ENG-1975 — Page 31

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INDUSTRY AND TRADE

The finishing sector provides sophisticated supporting facilities to the spinning, weaving and knitting sectors. It handles a large amount of textile fabrics for bleaching, dyeing, printing and finishing. Output in early 1975 was considerably affected by the difficulties experienced during the year in the spinning and weaving sectors of the textiles industry.

Clothing continued to be the largest sector of the industry, employing about 34 per cent of Hong Kong's total manufacturing workforce and accounting for 45 per cent of all domestic exports. During the year the clothing industry manufactured an increasing variety of high quality items and kept up-to-date with the latest trends in fashion. In the textiles industry it was the sector least affected by the world economic recession. Hong Kong's domestic exports of clothing in 1975 were valued at $10,202 million-17 per cent more than in 1974.

Other Light Industries

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Although the electronics industry maintained its position in 1975 as the second largest export earner, it was one of the industries most affected by the international recession. Many electronics factories operated below capacity for much of the year and some were forced to suspend operation. But there was an improvement during the second half of the year due to increased overseas demand for certain electronic products particularly pocket calculators. The industry comprises 460 factories employing 51,570 workers, and its products include computer memory systems, transistors, integrated circuits and semiconductors, tape recorders, transistor radios, desk and pocket calculators, television aerials, and television sets. Hong Kong's domestic exports of electronic products in 1975 were valued at $2,683 million, which was 11 per cent less than in 1974.

The plastics industry had another difficult year. Although there was an adequate supply of plastic raw materials available at stable prices, there was a decrease in consumer demand in overseas markets for most plastic products. The industry com- prises 3,437 firms with a workforce of 63,706. It produces a wide range of items, the most important being: toys and dolls; plastic household articles; artificial flowers, foliage and fruit; and footwear. In 1975, domestic exports of plastic products were valued at $1,979 million-16 per cent less than in 1974.

Other significant light industries produce watches, clocks and accessories; travel goods; metal products; and electrical machinery, apparatus and appliances. Most of the factories in the watches, clocks and accessories industry maintained or increased their production and an increasing number of watch factories now manu- facture electronic digital quartz watches.

Heavy and Service Industries

In the shipbuilding industry, Hong Kong's major dockyard established an international reputation for the efficiency with which it converted a freighter into a sophisticated oil drill ship. The yard, together with other local shipyards, continued to provide a competitive repair service to shipowners. The expansion of the container