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Further to the external merchandise trade statistics in value terms for May 2006 released earlier on, the Census and Statistics Department today (July 24) released the volume and price statistics of external merchandise trade for that month.
In May 2006, the volume of Hong Kong's re-exports of goods decreased by 0.5% over May 2005. Meanwhile, domestic exports grew by 20.1% in May 2006. Taken together, the volume of total exports of goods increased by 0.6%. Concurrently, the volume of imports of goods increased by 0.9%.
Comparing the first five months of 2006 with the same period in 2005, the volume of Hong Kong's re-exports of goods rose by 9.5%, while that of domestic exports grew significantly, by 35.2%. Taken together, the volume of total exports of goods grew by 10.8%. Concurrently, the volume of imports of goods increased by 10.5%.
Comparing the three-month period ending May 2006 with the preceding three months on a seasonally adjusted basis, the volume of total exports of goods decreased by 1.5%. Within this total, the volume of re-exports decreased by 1.0%, and that of domestic exports decreased by 8.0%. Concurrently, the volume of imports of goods decreased by 2.8%.
Changes in volume of external merchandise trade are derived from changes in external merchandise trade value with the effect of price changes discounted.
Comparing May 2006 with May 2005, the prices of re-exports of goods increased by 0.7%, while those of domestic exports decreased by 3.7%. Taken together, the prices of total exports of goods increased by 0.4%. Concurrently, the prices of imports of goods increased by 2.1%.
As regards price changes in the first five months of 2006 over the same period in 2005, the prices of re-exports of goods increased marginally, by 0.2%, while those of domestic exports decreased by 3.4%. Taken together, the prices of total exports of goods were virtually unchanged. Concurrently, the prices of imports of goods increased by 1.2%.
Price changes in external merchandise trade are reflected by changes in unit value indices of external merchandise trade which are compiled based on average unit values or, for certain commodities, specific price data.
The terms of trade index is derived from the ratio of price index of total exports of goods to that of imports of goods. Compared with the same periods in 2005, the index decreased by 1.6% in May 2006 and 1.2% in the first five months of 2006.
Changes in the value, unit value and volume of re-exports of goods by end-use category are shown in Table 1.
In May 2006, the volume of re-exports of "consumer goods" decreased by 7.7% over May 2005. Substantial decreases in re-export volume were recorded for "cameras, flashlight apparatus and supplies for photography" and "passenger motor cars". On the other hand, increases in re-export volume were recorded for "alcoholic beverages" and "household-type electrical appliances".
The re-export volume of "capital goods" decreased by 4.1% in May 2006 over May 2005. Decreases in re-export volume were noted for "office machinery" and "industrial machinery". On the other hand, significant increases in re-export volume were recorded for "construction machinery" and "transport equipment".
In May 2006, the re-export volume of "raw materials and semi-manufactures" increased by 9.3% over May 2005. Increases in re-export volume were noted for "base metal other than iron and steel" and "electronic components". On the other hand, substantial decreases in re-export volume were recorded for "wool and animal hair, and yarn, thread and fabrics of wool and animal hair" and "chemical elements and compounds".
Over the same periods of comparison, the re-export volume of "fuels" decreased by 7.0%, while that of "foodstuffs" increased by 6.2%.
Comparing May 2006 with May 2005, the re-export prices of "fuels", "consumer goods" and "foodstuffs" increased by 32.3%, 2.4% and 0.4% respectively. On the other hand, the re-export prices of "capital goods" and "raw materials and semi-manufactures" decreased by 0.6% and 0.1% respectively.
Changes in the value, unit value and volume of domestic exports of goods by selected principal commodity group are shown in Table 2.
Comparing May 2006 with May 2005, the volume of domestic exports of "clothing" and "office machines and equipment" increased sharply, by 85.2% and 67.8% respectively. On the other hand, the volume of domestic exports of "electronic components" and "metal manufactures" decreased significantly, by 41.8% and 41.0% respectively.
Over the same periods of comparison, decreases were recorded in the prices of domestic exports of some principal commodity groups, in particular those of "electronic components" and "clothing".
Changes in the value, unit value and volume of imports of goods by end-use category are shown in Table 3.
Comparing May 2006 with May 2005, the import volume of "capital goods" increased by 1.4%. Within this total, marked increases were recorded in the import volume of "construction machinery" and "telecommunications equipment". On the other hand, decreases in import volume were recorded for "transport equipment" and "industrial machinery".
The import volume of "raw materials and semi-manufactures" increased by 1.1% in May 2006 over May 2005. Increases in import volume were noted for "plastic materials" and "base metal other than iron and steel". On the other hand, substantial decreases in import volume were recorded for "wool and animal hair, and yarn, thread and fabrics of wool and animal hair" and "lime, cement, and fabricated building materials except glass, clay construction materials and refractory construction materials".
The import volume of "consumer goods" decreased by 0.7% in May 2006 over May 2005. Substantial decreases in import volume were recorded for "cameras, flashlight apparatus and supplies for photography" and "tobacco manufactures". On the other hand, increases in import volume were noted for "alcoholic beverages" and "jewellery, precious stones and related articles".
Over the same periods of comparison, the import volume of "foodstuffs" and "fuels" increased by 5.3% and 4.1% respectively.
Comparing May 2006 with May 2005, the import prices of all end-use categories increased: "fuels" (+26.8%), "raw materials and semi-manufactures" (+2.4%), "capital goods" (+1.2%), "foodstuffs" (+0.7%) and "consumer goods" (+0.4%).
Further information
Details of the above statistics are published in the May 2006 issue of the "Hong Kong Merchandise Trade Index Numbers".
Users can download this publication free of charge at the "Statistical Bookstore, Hong Kong" (www.statisticalbookstore.gov.hk) of the Census and Statistics Department (C&SD).
Print version of this publication is available for sale at HK$22 per issue. Purchase can be done in person at the Publications Unit of the C&SD (19/F Wanchai Tower, 12 Harbour Road, Wan Chai; Tel: 2582 3025) or through mail order by returning a completed order form which can be downloaded from the C&SD's website (www.censtatd.gov.hk/products_and_services/other_services/provision_of_stat/mail_ordering_of_publications/index.jsp). Print version of this publication is also available for sale online at the Statistical Bookstore and the Government Bookstore of the Information Services Department (www.isd.gov.hk/eng/bookorder.htm). Print versions if purchased online are offered a discount, at 85% of their original prices.
Moreover, enquiries on trade indices may be directed to the Census and Statistics Department (Tel: 2582 4918).
Ends/Monday, July 24, 2006
Issued at HKT 16:15
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