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Further to the external merchandise trade statistics in value terms for May 2009 released earlier on, the Census and Statistics Department (C&SD) released today (July 16) the volume and price statistics of external merchandise trade for that month.
In May 2009, the volume of Hong Kong's re-exports of goods decreased by 11.8% over May 2008, while that of domestic exports dropped sharply, by 35.5%. Taken together, the volume of total exports of goods decreased by 12.6%. Concurrently, the volume of imports of goods decreased by 16.2%.
Comparing the first five months of 2009 with the same period in 2008, the volume of Hong Kong's re-exports of goods decreased by 18.1%, while that of domestic exports dropped sharply, by 40.4%. Taken together, the volume of total exports of goods decreased by 18.9%. Concurrently, the volume of imports of goods decreased by 19.4%.
Comparing the three-month period ending May 2009 with the preceding three months on a seasonally adjusted basis, the volume of total exports of goods increased by 4.3%. Within this total, the volume of re-exports increased by 4.4%, whereas that of domestic exports decreased by 0.6%. Concurrently, the volume of imports of goods increased by 3.9%.
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 2009 with May 2008, the prices of re-exports of goods increased by 0.5%, while those of domestic exports increased by 0.8%. Taken together, the prices of total exports of goods increased by 0.6%. On the other hand, the prices of imports of goods decreased by 0.8%.
As regards price changes in the first five months of 2009 over the same period in 2008, the prices of re-exports of goods increased by 1.8%, while those of domestic exports increased by 1.7%. Taken together, the prices of total exports of goods increased by 1.8%. Concurrently, the prices of imports of goods increased slightly, by 0.3%.
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 2008, the index increased by 1.4% in May 2009 and 1.5% in the first five months of 2009.
Changes in the unit value and volume of total exports of goods by main destination are shown in Table 1.
In May 2009, the total export volume to Germany and Japan fell significantly, by 24.2% and 22.0% over May 2008. Concurrently, the total export volume to the USA, the United Kingdom and the mainland of China (the Mainland) decreased by 16.3%, 13.4% and 6.6% respectively.
Over the same period of comparison, the total export prices to Germany, the USA, Japan and the United Kingdom increased by 3.4%, 2.6%, 1.8% and 0.7% respectively. On the other hand, the total export prices to the Mainland decreased by 0.3%.
Changes in the unit value and volume of imports of goods by main supplier are shown in Table 2.
Comparing May 2009 with May 2008, the import volume from Japan and Singapore fell significantly, by 28.4% and 21.2% respectively. Concurrently, double-digit decreases were recorded for the import volume from Taiwan (-18.2%), the USA (-15.8%) and the Mainland (-13.5%).
In May 2009, the import prices from Singapore, Taiwan and the USA decreased by 6.6%, 0.8% and 0.8% respectively over May 2008. On the other hand, the import prices from Japan and the Mainland increased by 0.2% and 0.9% respectively.
Further information
Details of the above statistics are published in the May 2009 issue of the "Hong Kong Merchandise Trade Index Numbers". Users can download the publication free of charge at the website of the C&SD (http://www.censtatd.gov.hk/products_and_services/products/publications/statistical_report/external_trade/index.jsp).
Enquiries on merchandise trade indices may be directed to Trade Analysis Section of the C&SD (Tel.: 2582 4918).
Ends/Thursday, July 16, 2009
Issued at HKT 16:30
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