ENG-1989 — Page 107

INDUSTRY AND TRADE

Kong's imported foodstuffs. Taiwan ranked third, providing nine per cent, followed by the United States, the Republic of Korea, Singapore, the Federal Republic of Germany and the United Kingdom.

Exports

Clothing remained the largest component of domestic exports, being valued at $71,874 million or 32 per cent of the total. Exports of miscellaneous manufactured articles consisting mainly of plastic toys and dolls, jewellery, goldsmiths' and silversmiths' wares and plastic articles, were valued at $27,867 million, representing 12 per cent of domestic exports. Photographic apparatus, equipment, supplies and optical goods, watches and clocks were valued at $19,602 million (nine per cent of the total). Electrical machinery, apparatus and appliances consisting mainly of household-type appliances, transistors and diodes amounted to $17,888 million or eight per cent of the total. Domestic exports of textiles valued at $16,814 million, contributed another eight per cent to the total. Other important exports included telecommunications and sound recording and reproducing apparatus and equipment (seven per cent) as well as office machines and automatic data- processing equipment (seven per cent).

The direction and level of Hong Kong's export trade is much influenced by economic conditions and commercial policies in major overseas markets. In 1989, 52 per cent of all domestic exports went to the United States and the European Economic Community (EEC). The largest market was the United States ($72,162 million or 32 per cent of the total), China ($43,272 million or 19 per cent), the Federal Republic of Germany ($15,689 million or seven per cent) and the United Kingdom ($14,638 million or seven per cent). Domestic exports to Japan and Canada increased to $13,028 million and $6,299 million res- pectively, with Japan representing six per cent and Canada three per cent of total domestic exports. Other important markets were Singapore, the Netherlands, Australia and Taiwan.

Re-exports

Re-exports showed a very significant increase in 1989, accounting for 61 per cent of the combined total of domestic exports and re-exports. Principal commodities re-exported were: textiles ($42,529 million); miscellaneous manufactured articles ($42,359 million); clothing ($37,281 million); electrical machinery, apparatus and appliances ($33,550 mil- lion); telecommunications and sound recording and reproducing apparatus and equipment ($27,552 million) as well as photographic apparatus, equipment, supplies, and optical goods, watches and clocks ($13,485 million). The main origins of these re-exports were China, Japan, the United States, Taiwan and the Republic of Korea. Largest re-export markets were China, the United States, Japan, Taiwan and the Republic of Korea.

Documentation of Imports and Exports

As a free port, Hong Kong keeps its import and export licensing requirements to a minimum. Products over a wide range do not need licences to enter or leave Hong Kong. Where licences are required, they are intended to achieve two main objectives. Firstly, they help Hong Kong to fulfil its international obligations to restrain exports of textiles products and, related to this, to monitor the flow of these products into Hong Kong. Thus there is a requirement for all imports and exports of such products to be covered by licences issued by the Director-General of Trade. Secondly, they help Hong Kong to control, on health or safety grounds, exports and imports of a few types of non-textile products such as strategic commodities, pharmaceuticals and agricultural pesticides.

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