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Further to the external merchandise trade statistics in value terms for November 2006 released earlier on, the Census and Statistics Department (C&SD) today (January 18) released the volume and price statistics of external merchandise trade for that month.
In November 2006, the volume of Hong Kong's re-exports of goods increased by 17.0% over November 2005, while that of domestic exports decreased substantially, by 28.4%. Taken together, the volume of total exports of goods increased by 13.8%. Concurrently, the volume of imports of goods increased by 15.0%.
Comparing the first eleven months of 2006 with the same period in 2005, the volume of Hong Kong's re-exports of goods rose by 10.2%, and that of domestic exports by 5.8%. Taken together, the volume of total exports of goods grew by 9.9%. Concurrently, the volume of imports of goods increased by 10.0%.
Comparing the three-month period ending November 2006 with the preceding three months on a seasonally adjusted basis, the volume of total exports of goods increased by 3.4%. Within this total, the volume of re-exports increased by 4.9%, while that of domestic exports decreased substantially, by 20.6%. Concurrently, the volume of imports of goods increased by 3.4%.
Changes in volume of external merchandise trade are derived from changes in external merchandise trade value with the effect of price changes discounted.
Comparing November 2006 with November 2005, the prices of re-exports of goods increased by 1.9%, while those of domestic exports decreased by 0.7%. Taken together, the prices of total exports of goods increased by 1.8%. Concurrently, the prices of imports of goods increased by 2.1%.
As regards price changes in the first eleven months of 2006 over the same period in 2005, the prices of re-exports of goods increased by 1.0%, while those of domestic exports decreased by 2.2%. Taken together, the prices of total exports of goods increased by 0.8%. Concurrently, the prices of imports of goods increased by 2.0%.
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 0.4% in November 2006 and 1.2% in the first eleven 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.
The re-export volume of ¡§capital goods¡¨ increased substantially, by 28.1%, in November 2006 over November 2005. Significant increases in re-export volume were noted for ¡§construction machinery¡¨ and ¡§office machinery¡¨. On the other hand, decrease in re-export volume was recorded for ¡§transport equipment¡¨.
In November 2006, the volume of re-exports of ¡§consumer goods¡¨ increased by 13.2% over November 2005. Significant increases in re-export volume were recorded for ¡§clothing¡¨ and ¡§toys, games and sporting goods¡¨. On the other hand, decreases in re-export volume were recorded for ¡§tobacco manufactures¡¨ and ¡§footwear¡¨.
In November 2006, the re-export volume of ¡§raw materials and semi-manufactures¡¨ increased by 10.9% over November 2005. Substantial increases in re-export volume were noted for ¡§base metal other than iron and steel¡¨ and ¡§leather and dressed furskins¡¨. On the other hand, decreases in re-export volume were recorded for ¡§chemical elements and compounds¡¨ and ¡§lime, cement, and fabricated building materials except glass, clay construction materials and refractory construction materials¡¨.
Over the same periods of comparison, the re-export volume of ¡§foodstuffs¡¨ increased significantly, by 36.2%, while that of ¡§fuels¡¨ decreased substantially, by 27.0%.
Comparing November 2006 with November 2005, the re-export prices of all end-use categories increased: ¡§fuels¡¨ (+4.8%), ¡§consumer goods¡¨ (+2.7%), ¡§foodstuffs¡¨ (+2.3%), ¡§raw materials and semi-manufactures¡¨ (+2.1%) and ¡§capital goods¡¨ (+0.9%).
Changes in the value, unit value and volume of domestic exports of goods by selected principal commodity group are shown in Table 2.
Comparing November 2006 with November 2005, the volume of domestic exports of ¡§clothing¡¨ and ¡§electronic components¡¨ decreased significantly, by 48.6% and 35.2% respectively. On the other hand, the volume of domestic exports of ¡§metal manufactures¡¨ and ¡§jewellery, precious stones and related articles¡¨ increased by 32.4% and 13.5% 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 ¡§office machines and equipment¡¨.
Changes in the value, unit value and volume of imports of goods by end-use category are shown in Table 3.
Comparing November 2006 with November 2005, the import volume of ¡§capital goods¡¨ increased substantially, by 27.2%. Within this total, significant increases were recorded in the import volume of ¡§telecommunications equipment¡¨ and ¡§office machinery¡¨.
The import volume of ¡§consumer goods¡¨ increased by 11.2% in November 2006 over November 2005. Increases in import volume were recorded for ¡§toys, games and sporting goods¡¨ and ¡§radios, television-sets, gramophones, records, tape recorders and amplifiers¡¨. On the other hand, decreases in import volume were noted for ¡§passenger motor cars¡¨ and ¡§watches and clocks¡¨.
The import volume of ¡§raw materials and semi-manufactures¡¨ increased by 7.5% in November 2006 over November 2005. Increases in import volume were noted for ¡§base metal other than iron and steel¡¨ and ¡§electronic components¡¨. On the other hand, substantial 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¡¨.
Over the same periods of comparison, the import volume of ¡§fuels¡¨ and ¡§foodstuffs¡¨ increased by 29.4% and 13.4% respectively.
Comparing November 2006 with November 2005, the import prices of all end-use categories increased: ¡§raw materials and semi-manufactures¡¨ (+3.3%), ¡§foodstuffs¡¨ (+3.2%), ¡§capital goods¡¨ (+1.7%), ¡§consumer goods¡¨ (+1.1%) and ¡§fuels¡¨ (+0.2%).
Further information
Details of the above statistics are published in the November 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 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/Thursday, January 18, 2007
Issued at HKT 16:15
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