ENG-1968 — Page 88

INDUSTRY AND TRADE

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22 per cent of all imports. Of imports from Japan 37 per cent were textile yarn and fabrics; the rest was made up of electrical apparatus and appliances, photographic goods, watches, plastic materials and miscellaneous manufactured articles. Imports from China, the second largest supplier, accounted for 19 per cent of imports from all sources, and 49 per cent of all food imports. Other items imported from China included crude animal and vegetable materials, textile fabrics, paper, china ware, clothing and base metals. Imports from the United States registered an increase of $316 million or 22 per cent. The principal imports from the United States were raw cotton, tobacco, machinery, fruit, plastic materials and medicinal and pharmaceutical products. Imports from the United Kingdom showed a considerable increase and were mainly machinery, motor vehicles and textile fabrics.

The value of domestic exports reached a total of $8,428 million, an increase of 26 per cent over the previous year. Products of the textile and garment manufacturing industries accounted for 48 per cent by value, and miscellaneous manufactured articles, mainly plastic goods, toys and dolls, and wigs, made up a further 22 per cent. Other light industrial products such as transistorized radios and electronic components, footwear, and manufactures of metals were also important exports.

The direction of Hong Kong's export trade is influenced by such factors as the advantages of preference in Britain and several smaller Commonwealth markets, and economic conditions and commercial policies in overseas markets. During the year 57 per cent of all domestic exports by value went to two markets--the United States and the United Kingdom. The United States, remain- ing the largest market, took 41 per cent by value and increased her purchases by $982 million or 39 per cent. The value of all goods sent to the United Kingdom was $1,343 million, 16 per cent of all domestic exports. The Federal Republic of Germany, which remained the third largest market, purchased Hong Kong manu- factures worth $500 million during the year. Other growing markets of importance included Canada, Australia, Japan and Singapore but domestic exports now go to practically every country in the world.

The entrepôt trade has sustained its role in external trade. The value of re-exports in 1968 totalled $2,142 million, an increase