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Exports from textile industry drop drastically
08
Aug '08
In the second quarter of 2008, the value of domestic exports classified to the six major industries including textiles; chemicals and chemical products; wearing apparel; and machinery and equipment together accounted for 75% of Hong Kong's total domestic exports, according to statistics released August 7 by the Census and Statistics Department.

In the second quarter of 2008, the value of domestic exports classified to the textiles industry fell by $2.3 billion or 35.7% to $4.1 billion as compared with the same quarter in 2007; that for the wearing apparel industry by $1.0 billion or 26.7% to $2.7 billion; and that for the machinery and equipment industry by $0.4 billion or 14.1% to $2.3 billion.

On the other hand, the value of domestic exports classified to the chemicals and chemical products industry by $0.2 billion or 6.4% to $3.0 billion.

The above statistics of domestic exports classified by industrial origin are derived by re-grouping the merchandise domestic export items originally grouped under the external trade classification system according to the industries in which these merchandise items are normally produced. Transactions in gold and specie are not included.

The industrial classification used is the Hong Kong Standard Industrial Classification (HSIC), which is to be distinguished from the United Nations Standard International Trade Classification (SITC) used in the regular trade statistics reports. In comparison, the HSIC is more related to production processes whereas the SITC is more geared to end uses of products.

Caution should be taken when referring to these domestic export statistics classified by industrial origin. There may be several intermediate processing stages in the production of certain merchandise domestic export items.

In compiling the above statistics, the total value of such an item has however been wholly related to the industry in which the item is finally produced. Moreover, the above domestic export statistics of a particular industry may include secondary products which are produced by establishments of other industries.

Census and Statistics Department

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