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Further to the external merchandise trade statistics in value terms for June 2011 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 2011, the volume of Hong Kong's re-exports of goods increased by 0.7% over June 2010, whereas that of domestic exports fell significantly, by 21.6%. Taken together, the volume of total exports of goods increased slightly, by 0.2%. Concurrently, the volume of imports of goods increased by 5.8%.
Comparing the first half of 2011 with the same period in 2010, the volume of Hong Kong's re-exports of goods increased by 8.3%, whereas that of domestic exports decreased by 10.4%. Taken together, the volume of total exports of goods increased by 7.8%. Concurrently, the volume of imports of goods increased by 7.9%.
Comparing the second quarter of 2011 with the preceding quarter on a seasonally adjusted basis, the volume of total exports of goods decreased by 12.6%. Within this total, the volume of re-exports decreased by 12.6%, while that of domestic exports decreased by 14.7%. Concurrently, the volume of imports of goods decreased by 6.1%.
Changes in volume of external merchandise trade are derived from changes in external merchandise trade value with the effect of price changes discounted.
Comparing June 2011 with June 2010, the prices of re-exports of goods increased by 8.6%, while that of domestic exports increased by 6.5%. Taken together, the prices of total exports of goods increased by 8.6%. Concurrently, the prices of imports of goods increased by 8.1%.
As regards price changes in the first half of 2011 over the same period in 2010, the prices of re-exports of goods increased by 8.1%, while those of domestic exports increased by 6.5%. Taken together, the prices of total exports of goods increased by 8.1%. Concurrently, the prices of imports of goods increased by 8.4%.
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 increased by 0.4% in June 2011, whereas it decreased by 0.3% in the first half of 2011.
Changes in the unit value and volume of total exports of goods by main destination are shown in Table 1.
Comparing June 2011 with June 2010, the total export volume to Taiwan and Japan increased by 15.1% and 2.3% respectively. On the other hand, the total export volume to Germany, the mainland of China (the Mainland) and the USA decreased by 0.2%, 1.1% and 15.2% respectively.
Over the same period of comparison, the total export prices to all main destinations increased: the USA (+11.3%), Germany (+9.7%), Japan (+9.1%), Taiwan (+8.8%) and the Mainland (+7.0%).
Changes in the unit value and volume of imports of goods by main supplier are shown in Table 2.
In June 2011, the import volume from the Mainland, the USA and Singapore increased by 10.3%, 6.7% and 6.0% respectively over June 2010. On the other hand, the import volume from Taiwan and Japan decreased by 4.1% and 12.1% respectively.
Comparing June 2011 with June 2010, the import prices from all main suppliers increased: Japan (+10.9%), the USA (+8.1%), the Mainland (+7.5%), Singapore (+5.6%) and Taiwan (+4.8%).
Further information
Details of the above statistics are published in the June 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, August 11, 2011
Issued at HKT 16:34
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