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Further to the external merchandise trade statistics in value terms for February 2010 released earlier on, the Census and Statistics Department (C&SD) released today (April 20) the volume and price statistics of external merchandise trade for that month.
As the trade flows in January and February of each year tend to show considerable volatilities due to differences in timing of the Lunar New Year Holidays, it is useful to analyse the trade figures for these two months taken together. Comparing the first two months of 2010 with the same period in 2009, the volume of Hong Kong's re-exports of goods grew significantly, by 21.2%, while that of domestic exports also went up by 21.1%. Taken together, the volume of total exports of goods increased by 21.2%. Concurrently, the volume of imports of goods increased by 29.2%.
In February 2010, the volume of Hong Kong's re-exports of goods grew significantly, by 25.3% over February 2009, while that of domestic exports increased by 5.5%. Taken together, the volume of total exports of goods increased by 24.8%. Concurrently, the volume of imports of goods increased by 20.5%.
Comparing the three-month period ending February 2010 with the preceding three months on a seasonally adjusted basis, the volume of total exports of goods increased by 8.6%. Within this total, the volume of re-exports increased by 8.2%, while that of domestic exports grew significantly, by 25.5%. Concurrently, the volume of imports of goods increased by 9.3%.
Changes in volume of external merchandise trade are derived from changes in external merchandise trade value with the effect of price changes discounted.
As regards the price changes in the first two months of 2010 over the same period in 2009, the prices of re-exports of goods increased by 2.5%, while those of domestic exports increased by 2.4%. Taken together, the prices of total exports of goods increased by 2.5%. Concurrently, the prices of imports of goods increased by 2.9%.
Comparing February 2010 with February 2009, the prices of re-exports of goods increased by 2.8%, while those of domestic exports increased by 3.3%. Taken together, the prices of total exports of goods increased by 2.8%. Concurrently, the prices of imports of goods increased by 3.3%.
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 2009, the index decreased by 0.4% both in February 2010 and in the first two months of 2010.
Changes in the unit value and volume of total exports of goods by main destination are shown in Table 1.
Comparing February 2010 with February 2009, the total export volume to Taiwan and the USA rose substantially, by 61.5% and 47.7% respectively. Double-digit increases were also recorded for the total export volume to Japan (+24.8%), the mainland of China (the Mainland) (+17.3%) and Germany (+10.1%) over the same period of comparison.
Over the same period of comparison, the total export prices to the Mainland, Taiwan and Japan increased by 5.8%, 4.6% and 0.4% respectively. Concurrently, the total export prices to Germany remained virtually unchanged. On the other hand, the total export prices to the USA decreased by 2.3%.
Changes in the unit value and volume of imports of goods by main supplier are shown in Table 2.
In February 2010, the import volume from Japan and Taiwan rose sharply, by 38.8% and 32.2% respectively over February 2009. Concurrently, the import volume from the Mainland, Singapore and the USA increased by 18.1%, 16.1% and 15.0% respectively.
Comparing February 2010 with February 2009, the import prices from all main suppliers increased: Singapore (+14.4%), Taiwan (+5.8%), the USA (+3.8%), Japan (+1.5%) and the Mainland (+0.9%).
Further information
Details of the above statistics are published in the February 2010 issue of "Hong Kong Merchandise Trade Index Numbers". Users can download the publication free of charge at the website of the C&SD (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, April 20, 2010
Issued at HKT 16:30
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