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Further to the external merchandise trade statistics in value terms for June 2009 released earlier on, the Census and Statistics Department (C&SD) released today (August 11) the volume and price statistics of external merchandise trade for that month.
In June 2009, the volume of Hong Kong's re-exports of goods decreased by 1.7% over June 2008, while that of domestic exports dropped sharply, by 38.6%. Taken together, the volume of total exports of goods decreased by 2.9%. Concurrently, the volume of imports of goods decreased by 4.9%.
Comparing the first half of 2009 with the same period in 2008, the volume of Hong Kong's re-exports of goods decreased by 15.5%, while that of domestic exports dropped sharply, by 40.1%. Taken together, the volume of total exports of goods decreased by 16.3%. Concurrently, the volume of imports of goods decreased by 17.0%.
Comparing the second quarter of 2009 with the preceding quarter on a seasonally adjusted basis, the volume of total exports of goods increased by 13.0%. Within this total, the volume of re-exports increased by 13.4%, whereas that of domestic exports decreased by 1.9%. Concurrently, the volume of imports of goods increased by 12.3%.
Changes in volume of external merchandise trade are derived from changes in external merchandise trade value with the effect of price changes discounted.
Comparing June 2009 with June 2008, the prices of re-exports of goods increased by 0.8%, whereas that of domestic exports decreased by 1.4%. Taken together, the prices of total exports of goods increased by 0.7%. On the other hand, the prices of imports of goods decreased by 1.2%.
As regards price changes in the first half of 2009 over the same period in 2008, the prices of re-exports of goods increased by 1.6%, while those of domestic exports increased by 1.2%. Taken together, the prices of total exports of goods increased by 1.6%. Concurrently, the prices of imports of goods were virtually unchanged.
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 1.9% in June 2009 and 1.6% in the first half of 2009.
Changes in the unit value and volume of total exports of goods by main destination are shown in Table 1.
In June 2009, the total export volume to the USA fell significantly, by 22.2% over June 2008. Concurrently, the total export volume to the United Kingdom, Japan and Germany decreased by 16.1%, 14.1% and 13.3% respectively. On the other hand, the total export volume to the mainland of China (the Mainland) increased by 12.7%.
Over the same period of comparison, the total export prices to all main destinations increased: Germany (+3.0%), the Mainland (+1.2%), the United Kingdom (+0.8%), Japan (+0.5%) and the USA (+0.3%).
Changes in the unit value and volume of imports of goods by main supplier are shown in Table 2.
Comparing June 2009 with June 2008, a double-digit decrease was recorded for the import volume from Japan (-12.6%). Concurrently, the import volume from the Mainland, the USA, Singapore and Taiwan decreased by 4.6%, 3.1%, 1.6% and 1.3% respectively.
In June 2009, the import prices from Singapore, Taiwan, the USA and Japan decreased by 7.0%, 2.4%, 0.9% and 0.5% respectively over June 2008. On the other hand, the import prices from the Mainland increased by 1.0%.
Further information
Details of the above statistics are published in the June 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/Tuesday, August 11, 2009
Issued at HKT 16:30
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