Volume and price statistics of external merchandise trade in December 2016
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In December 2016, the volume of Hong Kong's re-exports of goods increased by 10.0% over December 2015, whereas that of domestic exports decreased by 6.2%. Taken together, the volume of total exports of goods increased by 9.8%. Concurrently, the volume of imports of goods increased by 8.4%.
Comparing 2016 with 2015, the volume of Hong Kong's re-exports of goods increased by 1.5%, whereas that of domestic exports decreased by 7.0%. Taken together, the volume of total exports of goods increased by 1.4%. Concurrently, the volume of imports of goods increased by 1.0%.
Comparing the fourth quarter of 2016 with the preceding quarter on a seasonally adjusted basis, the volume of total exports of goods increased by 3.8%. Within this total, the volume of re-exports increased by 3.9%, whereas that of domestic exports decreased by 3.8%. Concurrently, the volume of imports of goods increased by 2.4%.
Changes in volume of external merchandise trade are derived from changes in external merchandise trade value with the effect of price changes discounted.
Comparing December 2016 with December 2015, the prices of re-exports of goods increased by 0.3%, while those of domestic exports increased by 1.9%. Taken together, the prices of total exports of goods increased by 0.3%. Concurrently, the prices of imports of goods increased by 0.8%.
As regards price changes in 2016 over 2015, the prices of re-exports of goods decreased by 1.7%, while those of domestic exports decreased by 1.4%. Taken together, the prices of total exports of goods decreased by 1.7%. Concurrently, the prices of imports of goods decreased by 1.7%.
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 2015, the index decreased by 0.4% in December 2016, whereas it remained virtually unchanged in 2016 as a whole.
Changes in the unit value and volume of total exports of goods by main destination are shown in Table 1.
Comparing December 2016 with December 2015, double-digit increases were recorded for the total export volume to Taiwan (+41.4%) and the mainland of China (the Mainland) (+12.3%). Concurrently, the total export volume to Japan and India increased by 8.4% and 5.8% respectively. On the other hand, the total export volume to the USA decreased by 5.9%.
Over the same period of comparison, the total export prices to India and the Mainland increased by 2.2% and 1.5% respectively. On the other hand, the total export prices to Taiwan, the USA and Japan decreased by 0.9%, 3.1% and 4.0% respectively.
Changes in the unit value and volume of imports of goods by main supplier are shown in Table 2.
Comparing December 2016 with December 2015, double-digit increases were recorded for the import volume from Korea (+59.5%), Singapore (+18.1%) and Taiwan (+18.0%). Concurrently, the import volume from Japan and the Mainland increased by 9.2% and 1.8% respectively.
Over the same period of comparison, the import prices from all main suppliers increased: Korea (+6.8%), Singapore (+4.9%), Taiwan (+2.0%), the Mainland (+0.6%) and Japan (+0.3%).
Further information
Details of the above statistics are published in the December 2016 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/Thursday, February 16, 2017
Issued at HKT 16:30
Issued at HKT 16:30
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