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Further to the external merchandise trade statistics in value terms for March 2011 released earlier on, the Census and Statistics Department (C&SD) released today (May 12) the volume and price statistics of external merchandise trade for that month.
In March 2011, the volume of Hong Kong's re-exports of goods increased by 14.1% over March 2010, whereas that of domestic exports decreased by 3.8%. Taken together, the volume of total exports of goods went up by 13.7%. Concurrently, the volume of imports of goods increased by 11.0%.
For the first quarter of 2011 as a whole, the volume of Hong Kong's re-exports of goods increased by 18.2% over the same period in 2010, whereas that of domestic exports decreased by 4.1%. Taken together, the volume of total exports of goods increased by 17.7%. Concurrently, the volume of imports of goods increased by 12.9%.
Comparing the first quarter of 2011 with the fourth quarter of 2010 on a seasonally adjusted basis, the volume of total exports of goods increased by 16.3%. Within this total, the volume of re-exports increased by 16.6%, while that of domestic exports increased by 0.4%. Concurrently, the volume of imports of goods increased by 12.1%.
Changes in volume of external merchandise trade are derived from changes in external merchandise trade value with the effect of price changes discounted.
Comparing March 2011 with March 2010, the prices of re-exports of goods increased by 8.3%, while those of domestic exports increased by 6.8%. Taken together, the prices of total exports of goods increased by 8.3%. Concurrently, the prices of imports of goods increased by 9.4%.
As regards the price changes in the first quarter of 2011 over the same period in 2010, the prices of re-exports of goods increased by 7.6%, while those of domestic exports increased by 6.7%. Taken together, the prices of total exports of goods increased by 7.6%. Concurrently, the prices of imports of goods increased by 8.9%.
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 1.0% in March 2011 and 1.2% in the first quarter of 2011.
Changes in the unit value and volume of total exports of goods by main destination are shown in Table 1.
Comparing March 2011 with March 2010, the total export volume to Taiwan rose sharply, by 34.6%. Concurrently, the total export volume to Germany, the mainland of China (the Mainland), the USA and Japan increased by 13.3%, 12.3%, 7.0% and 4.8% respectively.
Over the same period of comparison, the total export prices to all main destinations increased: the USA (+8.9%), Taiwan (+8.6%), the Mainland (+8.1%), Germany (+7.5%) and Japan (+7.4%).
Changes in the unit value and volume of imports of goods by main supplier are shown in Table 2.
Comparing March 2011 with March 2010, double-digit increases were recorded for the import volume from Singapore (+20.6%), the Mainland (+12.8%), the USA (+12.8%) and Taiwan (+10.8%). On the other hand, the import volume from Japan decreased by 5.7%.
Comparing March 2011 with March 2010, the import prices from all main suppliers increased: Singapore (+13.1%), Japan (+11.4%), the Mainland (+9.1%), the USA (+6.5%) and Taiwan (+3.7%).
Further information
Details of the above statistics are published in the March 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 (1) of the C&SD (Tel: 2582 4918).
Ends/Thursday, May 12, 2011
Issued at HKT 16:31
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