ENG-2020 — Page 118

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Commerce and Industry

recording and reproducing apparatus and equipment ($646 billion) and office machines and automatic data processing machines ($351.9 billion). The Mainland, Taiwan and Singapore were Hong Kong's major suppliers, accounting for 45.1 per cent, 9.5 per cent and 7.4 per cent respectively of the total value of imports.

Services

Hong Kong is one of the world's most service-oriented economies. The services sector's share of Gross Domestic Product (GDP) in 2019 was 93.4 per cent and it provided employment for 3,246,500 people, making up 88.9 per cent of total employment in 2020.

The total services trade of Hong Kong amounted to $890.7 billion in 2020, the world's 21st largest in value. The territory exported $494.9 billion worth of services, contributing to 18.3 per cent of GDP, compiled based on the change of ownership principle. It ranked sixth in the region after the Mainland, India, Singapore, Japan and Korea in total value of services exported, and 21st in the world.

The main components of Hong Kong's exports of services were in financial services and transport, accounting for 33.8 per cent and 32.8 per cent respectively of the total value. The territory is a net exporter of services and had an overall surplus of $99.1 billion in 2020, including surpluses of $118.9 billion and $52.2 billion in financial services and transport respectively.

Manufacturing

Hong Kong is a command and control centre for manufacturing with a globalised production network. Domestic manufacturing contributed 1.1 per cent of GDP in 2019 and provided employment for 82,800 people in 2020, making up 2.3 per cent of overall employment.

Food and beverage producers are the largest employers in the sector, followed by employers in the printing and reproduction of recorded media industries. Chart 1 shows the breakdown of manufacturing employment.

Chart 1

Number of People Employed by Manufacturing Sector as at December 2020

Others

33.4% (27,357)

Food products

and beverages

34.5% (28,263)

Rubber and plastics products

(except furniture, toys, sports

goods and stationery)

2.1% (1,683)

Textiles

2.1% (1,702)

Electronics 2.2% (1,825)

Fabricated metal products

(except machinery and equipment) 2.4% (1,950)

Wearing apparel 3.4% (2,779)

Printing and reproduction

of recorded media

13.5% (11,092)

Pharmaceuticals, medicinal chemical and botanical products 6.4% (5,261)

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