ENG-2004 — Page 148

118 | Commerce and Industry

In 2004, the USA, the Mainland and the United Kingdom were Hong Kong's largest markets, absorbing 30.7 per cent, 30.1 per cent and 6.5 per cent of the total value of domestic exports, respectively.

Re-exports

In 2004, principal commodities re-exported were electrical machinery, apparatus and appliances, and electrical parts thereof ($383.8 billion or 20.3 per cent of the total value of re-exports), as well as telecommunications and sound recording and reproducing apparatus and equipment ($286.6 billion or 15.1 per cent of the total value of re-exports). The Mainland, Japan and Taiwan were the main origins of the re- exports, while the Mainland, the USA and Japan were the main destinations.

The Manufacturing Sector

Innovation, technology and relocation of lower value-added operations to the Mainland have accelerated the development of more knowledge-based and higher value-added manufacturing activities, as well as manufacturing-related services or producer services. Expansion of manufacturing activities offshore since the 1980s has turned Hong Kong into a strategic control centre of an increasingly globalised production network. In spite of Hong Kong's economic restructuring, the manufacturing sector remained an important sector of the economy, providing employment to 165 300 persons (7.2 per cent of all private sector employees) in December 2004.

The printing and publishing industry was the largest employer in the manufacturing sector as at September 2004, followed by the clothing industry. Chart 1 shows the breakdown of employment within the manufacturing sector as at September 2004.

Chart 1: Number of Persons Employed by the Manufacturing Sector as at September 2004

Others

26.0% (43 694)

Metal products 3.4% (5 821)

Textiles 6.3% (10 668)

Electronics 8.9% (14 879)

Food and beverages 13.9% (23 331)

Printing and publishing 22.4% (37 576)

Clothing 19.1% (32 026)