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Further to the external merchandise trade statistics in value terms for January 2008 released earlier on, the Census and Statistics Department (C&SD) released today (March 20) the volume and price statistics of external merchandise trade for that month.
In January 2008, the volume of Hong Kong's re-exports of goods increased by 16.1% over January 2007, whereas that of domestic exports decreased by 1.1%. Taken together, the volume of total exports of goods increased by 15.4%. Concurrently, the volume of imports of goods increased by 16.9%.
Comparing the three months ending January 2008 with the three months ending January 2007, the volume of Hong Kong's re-exports of goods rose by 9.1%, while that of domestic exports increased by 0.4%. Taken together, the volume of total exports of goods grew by 8.7%. Concurrently, the volume of imports of goods increased by 12.0%.
Comparing the three-month period ending January 2008 with the preceding three months on a seasonally adjusted basis, the volume of total exports of goods increased by 3.5%. Within this total, the volume of re-exports increased by 3.7%, while that of domestic exports increased by 0.5%. Concurrently, the volume of imports of goods increased by 4.5%.
Changes in volume of external merchandise trade are derived from changes in external merchandise trade value with the effect of price changes discounted.
Comparing January 2008 with January 2007, the prices of re-exports of goods increased by 2.6%, while those of domestic exports increased by 2.8%. Taken together, the prices of total exports of goods increased by 2.6%. Concurrently, the prices of imports of goods increased by 3.5%.
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 period in 2007, the index decreased by 0.9% in January 2008.
Changes in the value, unit value and volume of total exports of goods by main destination are shown in Table 1.
Comparing January 2008 with January 2007, the total export volume to the mainland of China (the Mainland) grew significantly, by 23.1%. Concurrently, the total export volume to Germany, Japan and the United Kingdom increased by 12.7%, 6.8% and 0.6% respectively. On the other hand, the total export volume to the USA decreased by 5.3%.
Over the same period of comparison, the total export prices to all main destinations increased: the USA (+5.1%), Germany (+3.0%), the United Kingdom (+2.7%), Japan (+1.7%) and the Mainland (+1.6%).
Changes in the value, unit value and volume of imports of goods by main supplier are shown in Table 2.
In January 2008, the import volume from Taiwan grew significantly, by 27.3%, over January 2007. Double-digit growth was also recorded for the import volume from the Mainland (+19.3%), Singapore (+18.0%) and Japan (+10.4%) over the same period of comparison. Concurrently, the import volume from the USA increased by 6.3%.
Comparing January 2008 with January 2007, the import prices from Singapore, the Mainland, Japan and Taiwan increased by 14.1%, 3.0%, 1.8% and 0.6% respectively. On the other hand, the import prices from the USA decreased by 0.6%.
Further information
Details of the above statistics are published in the January 2008 issue of the "Hong Kong Merchandise Trade Index Numbers". Users can download this publication free of charge at the website of the C&SD (www.censtatd.gov.hk/products_and_services/products/publications/index.jsp).
Print version of this publication is available for sale at HK$26 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 Government Bookstore of the Information Services Department (www.bookstore.gov.hk).
Enquiries on merchandise trade indices may be directed to Trade Analysis Section of the C&SD (Tel: 2582 4918).
Ends/Thursday, March 20, 2008
Issued at HKT 16:15
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