ENG-1979 — Page 44

INDUSTRY AND TRADE

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per cent of the year's total imports. There was an active demand for fabrics of man-made fibres ($3,728 million), iron and steel ($2,884 million), watch and clock movements, cases and parts ($2,572 million), woven cotton fabrics ($2,404 million), plastic moulding materials ($2,294 million), and transistors, diodes and semi-conductor integrated circuits ($1,696 million).

Imports of consumer goods, valued at $21,530 million, constituted 25 per cent of total imports. Major imported consumer products were diamonds ($3,624 million), clothing ($1,976 million), radios, television sets, gramophones, records and tape recorders ($1,719 million), watches ($1,667 million), and jade and precious stones, ivory, jewellery, gold- smiths' and silversmiths' wares ($1,014 million).

Imports of capital goods comprised 14 per cent of total imports, with a significant portion being imports of electronic components and parts for machines ($2,059 million), transport equipment ($1,921 million), electrical machinery ($1,296 million), miscellaneous industrial machinery ($731 million), office machines ($664-million), and textile machinery ($588 million).

Imports of foodstuffs amounted to $9,968 million, or 12 per cent of total imports. The principal imported food items were fish and fish preparations ($1,501 million), fruits ($1,368 million), meat and meat preparations ($1,186 million), vegetables ($1,031 million), and swine ($942 million). Imports of mineral fuels, lubricants and related materials were valued at $4,676 million - five per cent of total imports.

Japan continued to be the principal supplier of imports in 1979, providing 23 per cent of the total. China came second with 18 per cent of total imports and 45 per cent of all imported food and live animals. The United States supplied 12 per cent of total imports. Other important sources were Taiwan, Singapore, Britain, the Federal Republic of Germany, Switzerland and South Korea,

Domestic exports consisted almost entirely of manufactured goods. Clothing remained the largest sector, accounting for $20,131 million or 36 per cent of total domestic exports, Miscellaneous manufactured articles - mainly plastic toys, dolls and flowers, jewellery, and goldsmiths' and silversmiths' wares - valued at $9,454 million accounted for another 17 per cent. Photographic apparatus, equipment and supplies, optical goods, watches and clocks were valued at $5,126 million, representing nine per cent of the total. Domestic exports of textile yarn, fabrics, made-up articles and related products were $4,065 million or seven per cent of the total, Other important exports included radio broadcast receivers; electrical and non-electrical household-type equipment; diodes, transistors and similar semi-conductor devices; electronic microcircuits; metal products; travel goods; sanitary, plumbing, heating and lighting fixtures and fittings; and footwear.

The direction and level of Hong Kong's export trade are influenced principally by economic conditions and commercial policies in its main overseas markets. In 1979, 63 per cent of all domestic exports went to the United States and the European Economic Community. The United States absorbed 34 per cent of the total, West Germany 11 per cent and Britain 11 per cent. Export sales to Japan rose significantly during the year and amounted to $2,656 million. Other important markets were Australia, Canada, Singapore, the Netherlands and France. Growth of exports to members of the Organisation of Petroleum Exporting Countries (OPEC) continued in 1979.

Re-exports recorded a substantial increase during the year and accounted for 26 per cent of the combined total of domestic exports and re-exports. The principal commodities re-exported were textile yarn, fabrics, made-up articles and related products; pearls,