ENG-1969 — Page 93

INDUSTRY AND TRADE

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the export of plastic goods worth some $1,212 million during 1969, an increase of 17 per cent in the value of exports over that achieved in the previous year.

There has in recent years been spectacular growth in the manu- facture of electronic components such as silicon transistors and diodes, condensers, transformers, capacitators, resistors, loud- speakers and printed circuit boards. Manufacture or assembly of complete radios began only in 1959, but since then exports have increased to reach a total of 21 million sets worth $472 million in 1969, principally to the United States and the United Kingdom.

Manufacture of human hair wigs and pieces also increased dramatically during the last few years to meet a fashion demand in developed countries, the principal market being the United States. Exports during 1969 were valued at $647 million. During 1969, the trend towards use of synthetic hair previously noted increased markedly, a trend to be welcomed since the overheads of making human hair wigs for their principal market, the United States, has increased very considerably consequent upon a sudden change in 1966 of a definition in the Foreign Assets Control Regulations.

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Heavy and Service Industries

In recent years Hong Kong's heavy industry has been related on the one hand to port facilities and servicing, that is to say, ship and aircraft repair or modification, as well as construction of small and medium-sized vessels; and on the other to servicing the construc- tion industry, that is to say, production of reinforcing bars, made either from imported ingots or scrap steel derived from ship- breaking or industrial detritus, manufacture of aluminium extrusion products, etc. Ship and aircraft repair facilities were fully employed during 1969.

After three years of difficulties associated with competition from Chinese steel for a diminishing domestic market and a declining external market, the steel rolling industry was in a substantially better condition during 1969 and hopefully anticipating a new domestic construction boom.

The expansion of light industry has in the past stimulated manu- facture of small and medium machine tools and replacement parts for imported machinery. Of particular importance are plastic blow