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Further to the external merchandise trade statistics in value terms for August 2009 released earlier on, the Census and Statistics Department (C&SD) released today (October 20) the volume and price statistics of external merchandise trade for that month.
In August 2009, the volume of Hong Kong's re-exports of goods decreased by 13.5% over August 2008, while that of domestic exports dropped sharply, by 33.5%. Taken together, the volume of total exports of goods decreased by 14.1%. Concurrently, the volume of imports of goods decreased by 7.4%.
Comparing the first eight months of 2009 with the same period in 2008, the volume of Hong Kong's re-exports of goods decreased by 15.6%, while that of domestic exports dropped sharply, by 39.2%. Taken together, the volume of total exports of goods decreased by 16.4%. Concurrently, the volume of imports of goods decreased by 15.5%.
Comparing the three-month period ending August 2009 with the preceding three months on a seasonally adjusted basis, the volume of total exports of goods increased marginally, by 0.1%. Within this total, the volume of re-exports increased by 0.5%, whereas that of domestic exports decreased by 13.9%. Concurrently, the volume of imports of goods increased by 7.0%.
Changes in volume of external merchandise trade are derived from changes in external merchandise trade value with the effect of price changes discounted.
Comparing August 2009 with August 2008, the prices of re-exports of goods increased slightly, by 0.3%, whereas that of domestic exports decreased by 1.9%. Taken together, the prices of total exports of goods increased slightly, by 0.3%. On the other hand, the prices of imports of goods decreased by 1.8%.
As regards price changes in the first eight months of 2009 over the same period in 2008, the prices of re-exports of goods increased by 1.3%, while those of domestic exports increased slightly, by 0.2%. Taken together, the prices of total exports of goods increased by 1.2%. On the other hand, the prices of imports of goods decreased by 0.5%.
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 2008, the index increased by 2.1% in August 2009 and 1.7% in the first eight months of 2009.
Changes in the unit value and volume of total exports of goods by main destination are shown in Table 1.
In August 2009, double-digit decreases were recorded for the total export volume to Germany (-23.8%), the United Kingdom (-21.6%), the USA (-12.8%) and the Mainland of China (the Mainland) (-12.1%) over August 2008. Concurrently, the total export volume to Japan decreased by 4.8%.
Over the same period of comparison, the total export prices to Germany, Japan, the Mainland and the United Kingdom increased by 2.3%, 1.3%, 0.7% and 0.2% respectively. On the other hand, the total export prices to the USA decreased by 0.4%.
Changes in the unit value and volume of imports of goods by main supplier are shown in Table 2.
Comparing August 2009 with August 2008, the import volume from all main suppliers decreased: the USA (-17.9%), Japan (-15.1%), the Mainland (-8.9%), Taiwan (-5.2%) and Singapore (-2.2%).
In August 2009, the import prices from Singapore, Taiwan, the USA and the Mainland decreased by 5.2%, 3.0%, 0.7% and 0.6% respectively over August 2008. On the other hand, the import prices from Japan increased by 0.2%.
Further information
Details of the above statistics are published in the August 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, October 20, 2009
Issued at HKT 16:30
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