ENG-1994 — Page 128

TRADE AND INDUSTRY

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Hong Kong remains export-oriented: about 80 per cent of the territory's manufactured products are exported. Major exports include clothing, electronic products, textiles, watches and clocks, and plastic products. The major markets in 1994 for Hong Kong's manufactured exports, worth $222,092 million, were the United States of America (27.7 per cent), China (27.5 per cent), Germany (5.8 per cent), Singapore (5.5 per cent) and Japan (4.7 per cent).

There were 34 068 manufacturing establishments in Hong Kong in 1994, of which 29 849 employed fewer than 20 persons, and 32 552 fewer than 50 persons. The remaining 1 516 establishments accounted for about 49.4 per cent of Hong Kong's total manufacturing employment. Many smaller establishments are linked with larger factories through an efficient and flexible sub-contracting network, which has enabled the manufacturing sector to respond swiftly to changes in external demand.

Clothing

The clothing industry, including the manufacture of wearing apparel, knit outerwear and knit underwear, is the largest employer and export-earner in the manufacturing sector. In 1994, it employed 136 789 workers (31.2 per cent of total manufacturing employment) and earned $73,086 million in exports (32.9 per cent of Hong Kong's total domestic exports). Hong Kong is one of the world's leading suppliers of clothing, and produces a wide variety of products from simple accessories to expensive and high-quality fashion wear.

Electronics

The electronics industry, including the manufacture of electronic watches and clocks and electronic toys, is the second largest employer and export-earner. In 1994, it employed 45 896 workers (10.5 per cent of total manufacturing employment), and earned $58,091 million in exports (26.2 per cent of total domestic exports). The industry produces a wide range of high quality products and components, including television sets, hi-fi equipment, wired and cordless telephones, video telephones, modems, microcomputers, computer memory systems, facsimile machines, watches, multi-layer printed circuit boards, semi- conductors and surface-mounted devices.

Textiles

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The textiles industry, excluding the manufacture of knit outerwear and knit underwear, is the third largest export-earner. It is also a major supplier of yarns and fabrics for local clothing manufacturers. The industry comprises four main sectors: spinning, weaving, knitted fabrics manufacturing and finishing. Textiles finishing, including bleaching, dyeing and printing, is the largest among the four sectors. In 1994, the industry employed 36 107 workers (8.2 per cent of total manufacturing employment), and earned $15,038 million in exports (6.8 per cent of total domestic exports).

Watches and Clocks

The watches and clocks industry is the fourth largest export-earner. In 1994, the industry employed 13 165 workers (three per cent of total manufacturing employment), and earned $13,196 million in exports (5.9 per cent of total domestic exports). Besides complete electronic and mechanical watches and clocks, the industry also produces high quality