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 From Hong Kong's Information Services Department
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December 2, 2004
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Economy
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Industrial production down 9.2% in 2003
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Census & Statistics Department

An annual survey of industrial production showed the manufacturing sector's gross output was $156.4 billion in 2003, down by 9.2% from a year earlier, the Census & Statistics Department says.

 

The sector's gross surplus, equal to gross output less total operating expenses, fell 15.1% from a year earlier, to $17.3 billion in 2003. 

 

The sector's value-added - a measure of its contribution to Hong Kong's Gross Domestic Product - was $46.7 billion in 2003, a 12.5% slide from a year earlier.

 

Within the manufacturing sector, the five largest broad industry groups in terms of value-added in 2003 were:

* paper products, printing and publishing industry;

* basic metals, fabricated metal products, machinery and equipment industry;

* food, beverages and tobacco industry;

* textiles industry, including knitting; and

* wearing apparel, except for knitwear and the footwear industry. 

 

They together accounted for 79.1% of the sector's total value-added.

 

Electrical/electronic products industry sees 36% dip

Comparing 2003 with a year earlier, value-added decreases were observed in eight broad industry groups, with more pronounced declines occurring in the electrical and electronic products industry (-35.9%); basic metals, fabricated metal products, machinery and equipment industry (-20.1%); leather, wood and cork products industry (-18.6%); other miscellaneous manufacturing industries (-16.9%) and food, beverages and tobacco industry (-16.7%).

 

Value-added in the wearing apparel, excluding knitwear and footwear, rose 3.2%, and in the textiles industry, including knitting, it went up 1.9%.