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The Economy

The increasing service orientation of the economy was also borne out by a shift in the sectoral composition of employment. Over the past two decades, the share of the services sector in total employment increased from 73 per cent in 1993 to 86 per cent in 2003 and 88 per cent in 2013. As for individual service segments, import/export trade and wholesale, retail, accommodation and food services accounted for 32 per cent of the total in 2013. This was followed by public administration, social and personal services with a share of 26 per cent; financing and insurance, real estate, professional and business services, 19 per cent; and transportation, storage, postal and courier services, information and communications, 12 per cent (Chart 6).

Chart 6

Transport, storage and

communications

10.9%

Employment by Major Service Sector

1993

Wholesale, retail and import/export trades, restaurants and hotels 32.8%

Other sectors 27.5%

2013

Import/export,

wholesale and retail trades, accommodation and food services 31.6%

7

Other sectors 11.7%

Finance, insurance, real estate

and business

services

10%

Community, social and personal services 18.9%

Transportation, storage, postal and courier services,

information and

communications

11.5%

Financing and insurance, real estate, professional and business services 19.3%

Public administration,

social and personal

services

25.9%

Import/export trade and wholesale, retail, accommodation and food services employed the most people in 2013.

Notes: The compilation methodology of composite employment estimates was reviewed in June 2005. Employment figures from 1996 onwards have thus been revised accordingly. They are not strictly comparable with those of earlier years.

Starting from the first quarter of 2009, industrial classification of employment has adopted the Hong Kong Standard Industrial Classification Version 2.0 while that in the previous years is based on Version 1.1.

The Manufacturing Sector

Hong Kong's manufacturing sector continues to be versatile and resilient in coping with the changing global and regional economic landscapes. Thanks to the increased manufacturing arrangements in the Mainland and other neighbouring economies with lower land and labour costs, not only has Hong Kong's productive capacity been effectively expanded, its overall productive efficiency and product quality have also seen significant upgrading along with technological advancement and a shift towards production with a more knowledge-based and higher value-added content. It is also worth noting that although the direct value-added

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