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Further to the external merchandise trade statistics in value terms for December 2014 released earlier on, the Census and Statistics Department (C&SD) released today (February 17) the volume and price statistics of external merchandise trade for that month.
In December 2014, the volume of Hong Kong's re-exports of goods decreased by 0.9% over December 2013, while that of domestic exports decreased by 10.1%. Taken together, the volume of total exports of goods decreased by 1.0%. On the other hand, the volume of imports of goods increased by 0.7%.
Comparing 2014 with 2013, the volume of Hong Kong's re-exports of goods increased by 2.1%, while that of domestic exports increased by 5.0%. Taken together, the volume of total exports of goods increased by 2.1%. Concurrently, the volume of imports of goods increased by 2.8%.
Comparing the fourth quarter of 2014 with the preceding quarter on a seasonally adjusted basis, the volume of total exports of goods decreased by 3.2%. Within this total, the volume of re-exports decreased by 3.2%, while that of domestic exports decreased by 6.5%. Concurrently, the volume of imports of goods decreased by 0.3%.
Changes in volume of external merchandise trade are derived from changes in external merchandise trade value with the effect of price changes discounted.
Comparing December 2014 with December 2013, the prices of re-exports of goods increased by 2.4%, whereas those of domestic exports decreased by 1.7%. Taken together, the prices of total exports of goods increased by 2.4%. Concurrently, the prices of imports of goods increased by 1.5%.
As regards price changes in 2014 over 2013, the prices of re-exports of goods increased by 2.0%, whereas those of domestic exports decreased by 0.3%. Taken together, the prices of total exports of goods increased by 2.0%. Concurrently, the prices of imports of goods increased by 1.9%.
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 periods in 2013, the index increased by 0.9% and 0.1% in December 2014 and in 2014 as a whole respectively.
Changes in the unit value and volume of total exports of goods by main destination are shown in Table 1.
Comparing December 2014 with December 2013, the total export volume to India, Taiwan, the mainland of China (the Mainland) and Japan decreased by 8.1%, 4.6%, 3.4% and 1.5% respectively. On the other hand, the total export volume to the USA increased by 6.2%.
Over the same period of comparison, the total export prices to the Mainland, the USA and Taiwan increased by 3.0%, 3.0% and 2.1% respectively. On the other hand, the total export prices to Japan and India decreased by 0.7% and 2.9% respectively.
Changes in the unit value and volume of imports of goods by main supplier are shown in Table 2.
Comparing December 2014 with December 2013, the import volume from Taiwan, the Mainland and Singapore increased by 7.3%, 2.2% and 0.9% respectively. On the other hand, the import volume from Japan and the USA decreased by 1.8% and 13.9% respectively.
Over the same period of comparison, the import prices from the Mainland and Taiwan increased by 3.4% and 1.4% respectively. On the other hand, the import prices from the USA, Japan and Singapore decreased by 0.2%, 3.5% and 3.7% respectively.
Further information
Details of the above statistics are published in the December 2014 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/hkstat/sub/sp230.jsp?productCode=B1020006).
Enquiries on merchandise trade indices may be directed to Trade Analysis Section (1) of the C&SD (Tel: 2582 4918).
Ends/Tuesday, February 17, 2015
Issued at HKT 16:30
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