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Further to the external merchandise trade statistics in value terms for January 2011 released earlier on, the Census and Statistics Department (C&SD) released today (March 17) the volume and price statistics of external merchandise trade for that month.
In January 2011, the volume of Hong Kong's re-exports of goods grew significantly, by 21.4% over January 2010, whereas that of domestic exports decreased by 3.8%. Taken together, the volume of total exports of goods increased by 20.7%. Concurrently, the volume of imports of goods increased by 12.5%.
Comparing the three months ending January 2011 with the three months ending January 2010, the volume of Hong Kong's re-exports of goods increased by 11.9%, while that of domestic exports increased by 7.6%. Taken together, the volume of total exports of goods increased by 11.8%. Concurrently, the volume of imports of goods increased by 8.9%.
Comparing the three-month period ending January 2011 with the preceding three months on a seasonally adjusted basis, the volume of total exports of goods increased by 2.7%. Within this total, the volume of re-exports increased by 2.5%, while that of domestic exports increased by 8.7%. Concurrently, the volume of imports of goods increased by 3.4%.
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 2011 with January 2010, the prices of re-exports of goods increased by 6.7%, while those of domestic exports increased by 6.6%. Taken together, the prices of total exports of goods increased by 6.7%. Concurrently, the prices of imports of goods increased by 7.6%.
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 2010, the index decreased by 0.8% in January 2011.
Changes in the unit value and volume of total exports of goods by main destination are shown in Table 1.
Comparing January 2011 with January 2010, the total export volume to the mainland of China (the Mainland) and the USA went up significantly, by 22.3% and 20.6% respectively. Concurrently, the total export volume to Taiwan, Germany and Japan increased by 16.7%, 9.4% and 4.9% respectively.
Over the same period of comparison, the total export prices to all main destinations increased: the Mainland (+6.8%), the USA (+6.7%), Japan (+6.4%), Germany (+6.2%) and Taiwan (+5.7%).
Changes in the unit value and volume of imports of goods by main supplier are shown in Table 2.
In January 2011, a double-digit increase was recorded for the import volume from the Mainland (+17.9%) over January 2010. Concurrently, the import volume from Singapore, Japan, Taiwan and the USA increased by 7.5%, 6.2%, 5.3% and 2.9% respectively.
Comparing January 2011 with January 2010, the import prices from all main suppliers increased: Japan (+9.0%), the Mainland (+8.3%), Singapore (+6.8%), the USA (+5.1%) and Taiwan (+3.8%).
Further information
Details of the above statistics are published in the January 2011 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/Thursday, March 17, 2011
Issued at HKT 16:31
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