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Further to the external merchandise trade statistics in value terms for July 2006 released earlier on, the Census and Statistics Department (C&SD) today (September 22) released the volume and price statistics of external merchandise trade for that month.
In July 2006, the volume of Hong Kong's re-exports of goods increased by 11.0% over July 2005, and that of domestic exports by 20.8%. Taken together, the volume of total exports of goods increased by 11.6%. Concurrently, the volume of imports of goods increased by 9.5%.
Comparing the first seven months of 2006 with the same period in 2005, the volume of Hong Kong's re-exports of goods rose by 9.3%, while that of domestic exports grew significantly, by 30.2%. Taken together, the volume of total exports of goods grew by 10.4%. Concurrently, the volume of imports of goods increased by 10.0%.
Comparing the three-month period ending July 2006 with the preceding three months on a seasonally adjusted basis, the volume of total exports of goods decreased by 1.3%. Within this total, the volume of re-exports decreased by 1.0%, and that of domestic exports by 4.9%. Concurrently, the volume of imports of goods decreased by 1.3%.
Changes in volume of external merchandise trade are derived from changes in external merchandise trade value with the effect of price changes discounted.
Comparing July 2006 with July 2005, the prices of re-exports of goods increased by 1.3%, while those of domestic exports decreased by 2.2%. Taken together, the prices of total exports of goods increased by 1.1%. Concurrently, the prices of imports of goods increased by 2.6%.
As regards price changes in the first seven months of 2006 over the same period in 2005, the prices of re-exports of goods increased by 0.5%, while those of domestic exports decreased by 3.2%. Taken together, the prices of total exports of goods increased by 0.3%. Concurrently, the prices of imports of goods increased by 1.6%.
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 1.4% in July 2006 and 1.3% in the first seven 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 July 2006, the re-export volume of "raw materials and semi-manufactures" increased substantially, by 23.1% over July 2005. Marked 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 "lime, cement, and fabricated building materials except glass, clay construction materials and refractory construction materials" and "paper and paperboard".
The re-export volume of "capital goods" increased by 13.9% in July 2006 over July 2005. Increases in re-export volume were noted for "telecommunications equipment" and "scientific, medical, optical, measuring, and controlling instruments and apparatus". On the other hand, decrease in re-export volume was recorded for "construction machinery".
In July 2006, the volume of re-exports of "consumer goods" decreased by 3.0% over July 2005. Decreases in re-export volume were recorded for "passenger motor cars" and "household-type electrical appliances". On the other hand, increases in re-export volume were recorded for "tobacco manufactures" and "jewellery, precious stones and related articles".
Over the same periods of comparison, the re-export volume of "foodstuffs" increased by 16.2%, while that of "fuels" decreased significantly, by 36.9%.
Comparing July 2006 with July 2005, the re-export prices of "fuels", "consumer goods", "foodstuffs" and "capital goods" increased by 29.5%, 3.3%, 0.8% and 0.5% respectively. On the other hand, the re-export prices of "raw materials and semi-manufactures" were virtually unchanged.
Changes in the value, unit value and volume of domestic exports of goods by selected principal commodity group are shown in Table 2.
Comparing July 2006 with July 2005, the volume of domestic exports of "office machines and equipment" and "clothing" increased significantly, by 97.5% and 26.1% respectively. On the other hand, the volume of domestic exports of "textiles" and "electronic components" decreased by 17.3% and 16.9% respectively.
Over the same periods of comparison, decreases were recorded in the prices of domestic exports of most 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 July 2006 with July 2005, the import volume of "capital goods" increased by 19.6%. Within this total, significant increases were recorded in the import volume of "transport equipment" and "scientific, medical, optical, measuring, and controlling instruments and apparatus".
The import volume of "raw materials and semi-manufactures" increased by 10.3% in July 2006 over July 2005. Substantial increases in import volume were noted for "base metal other than iron and steel" and "plastic materials". On the other hand, decreases in import volume were recorded for "chemical elements and compounds" and "lime, cement, and fabricated building materials except glass, clay construction materials and refractory construction materials".
The import volume of "consumer goods" decreased by 0.5% in July 2006 over July 2005. Substantial decreases in import volume were recorded for "household-type electrical appliances" and "cameras, flashlight apparatus and supplies for photography". On the other hand, increases in import volume were noted for "alcoholic beverages" and "toys, games and sporting goods".
Over the same periods of comparison, the import volume of "foodstuffs" increased by 2.7%, while that of "fuels" decreased by 2.8%.
Comparing July 2006 with July 2005, the import prices of "fuels", "raw materials and semi-manufactures", "capital goods" and "foodstuffs" increased by 19.9%, 4.1%, 1.7% and 1.2% respectively. On the other hand, the import prices of "consumer good" were virtually unchanged.
Further information
Details of the above statistics are published in the July 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 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 (Address: 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 C&SD(Tel: 2582 4918).
Ends/Friday, September 22, 2006
Issued at HKT 16:15
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