ENG-2011 — Page 141

Commerce and Industry | 105

Manufacturers of food products and beverages were the largest employers in the manufacturing sector as at December 2011, followed by employers in the printing and reproduction of recorded media industries. Chart 1 shows the breakdown of employment within the manufacturing sector as at December 2011.

Chart 1

Number of Persons Employed by the Manufacturing Sector as at December 2011

Rubber and plastic products (except furniture, toys, sports

goods and stationary)

2.2% (2410)

Fabricated metal products

(except machinery and equipment) 3.2% (3 579)

Pharmaceuticals, medicinal

chemical and botanical products 3.8% (4 205)

Others

29.2% (32 274)

Textiles

5.2% (5 787)

Electronics 6.8% (7 456)

Wearing apparel 10.3% (11 375)

Food products

and beverages

22.9% (25 310)

Printing and reproduction

of recorded media 16.3% (17 983)

The Services Sector

The services sector has grown significantly in the past decade. Its share of Hong Kong's Gross Domestic Product (GDP) rose from 88 per cent in 2001 to 92.9 per cent in 2010. In 2011, 88.5 per cent of total employment was in this sector. Hong Kong has become one of the most service-orientated economies in the world.

In 2011, Hong Kong's total services trade amounted to $1,376.1 billion, making it the world's 14th largest trading entity in terms of value of this trade. In 2011, Hong Kong exported $941.3 billion worth of services, contributing to 49.7 per cent of GDP. In 2011, Hong Kong ranked fifth after China, India, Japan and Singapore in the region in terms of total value of exports of services. In the global league table, Hong Kong ranked 11th in the same year.

Hong Kong's exports of services comprise mainly merchanting and other trade-related services, transportation services and travel services. These accounted for 29.2, 27 and 22.5 per cent respectively of the total value in 2011. The corresponding share for exports of financial services was 12.6 per cent, and that for exports of insurance and other services was 8.7 per cent. Hong Kong is a net exporter of services in overall terms with an overall surplus of $506.4 billion in 2011. Analysed by components of services trade, merchanting and other trade-related services recorded the largest surplus in 2011, at $237.7 billion, followed by transportation services ($130.2 billion), financial services ($88 billion) and travel services ($62.5 billion).