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Content of the press release

Further to the external merchandise trade statistics in value terms for June 2005 released earlier on, the Census and Statistics Department today (August 22) released the volume and price statistics of external merchandise trade for that month.

In June 2005, the volume of Hong Kong's re-exports of goods increased by 14.5% over June 2004, while that of domestic exports decreased by 10.9%.  Taken together, the volume of total exports of goods increased by 12.7%. Concurrently, the volume of imports of goods increased by 8.9%.

Comparing the first half of 2005 with the same period in 2004, the volume of Hong Kong's re-exports of goods rose by 11.8%, while that of domestic exports fell by 8.8%.  Taken together, the volume of total exports of goods grew by 10.5%.  Concurrently, the volume of imports of goods increased by 6.1%.

Comparing the second quarter of 2005 with the preceding quarter on a seasonally adjusted basis, the volume of total exports of goods increased by 6.7%.  Within this total, the volume of re-exports increased by 6.9%, and that of domestic exports increased by 3.6%.  Concurrently, the volume of imports of goods increased by 5.6%.

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 2005 with June 2004, the prices of re-exports of goods increased by 1.3%, and those of domestic exports by 5.0%.  Taken together, the prices of total exports of goods increased by 1.6%.  Concurrently, the prices of imports of goods increased by 3.0%.

As regards price changes in the first half of 2005 over the same period in 2004, the prices of re-exports of goods increased by 1.8%, and those of domestic exports by 4.7%.  Taken together, the prices of total exports of goods were up by 2.0%.  Concurrently, the prices of imports of goods increased by 3.6%.

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 periods in 2004, the index decreased by 1.4% in June 2005 and 1.6% in the first half of 2005.

Changes in the value, unit value and volume of re-exports of goods by end-use category are shown in Table 1(text version of table 1).

The re-export volume of "capital goods" increased substantially, by 26.0% in June 2005 over June 2004, with marked increases in re-export volume noted for "transport equipment" and "electrical machinery".

In June 2005, the re-export volume of "raw materials and semi-manufactures" increased by 11.6% over June 2004.  Significant increases in re-export volume were noted for "electronic components" and "leather and dressed furskins".  On the other hand, significant decreases in re-export volume were recorded for "wood, lumber and cork" and "chemical elements and compounds".

In June 2005, the volume of re-exports of "consumer goods" increased by 8.9% over June 2004.  Notable increases in re-export volume were recorded for "clothing" and "jewellery, precious stones and related articles".  On the other hand, decreases in re-export volume were recorded for "cameras, flashlight apparatus and supplies for photography" and "alcoholic beverages".

Over the same periods of comparison, the re-export volume of "fuels" increased by 8.8%, while that of "foodstuffs" decreased by 11.6%.

Comparing June 2005 with June 2004, the re-export prices of all end-use categories increased: "fuels" (+42.1%), "consumer goods" (+2.5%), "foodstuffs" (+1.4%), "capital goods" (+0.7%) and "raw materials and semi-manufactures" (+0.5%).

Changes in the value, unit value and volume of domestic exports of goods by selected principal commodity group are shown in Table 2(text version of table 2).

Comparing June 2005 with June 2004, the volume of domestic exports of "clothing" and "scientific, medical, optical, measuring, and controlling instruments and apparatus" decreased markedly, by 46.2% and 19.6% respectively.  On the other hand, the volume of domestic exports of "office machines and equipment" and "metal manufactures" increased sharply, by 166.1% and 77.4% respectively.

Over the same periods of comparison, increases were recorded in the prices of domestic exports of many principal commodity groups, with particularly large increase recorded for "metal manufactures".

Changes in the value, unit value and volume of imports of goods by end-use category are shown in Table 3(text version of table 3).

Comparing June 2005 with June 2004, the import volume of "capital goods" increased by 19.8%.  Within this total, significant increases were recorded in the import volume of "transport equipment" and "electrical machinery".

The import volume of "raw materials and semi-manufactures" increased by 9.9% in June 2005 over June 2004.  Significant increases in import volume were noted for "electronic components" and "iron and steel".  On the other hand, substantial decreases in import volume were recorded for "wood, lumber and cork" and "watch and clock movements, cases and parts".

The import volume of "consumer goods" increased by 0.4% in June 2005 over June 2004.  Increases in import volume were recorded for "jewellery, precious stones and related articles" and "miscellaneous made-up articles of textile materials".  On the other hand, decreases in import volume were noted for "tobacco manufactures" and "alcoholic beverages".

Over the same periods of comparison, the import volume of "foodstuffs" and "fuels" decreased by 2.9% and 18.9% respectively.

Comparing June 2005 with June 2004, the import prices of "fuels", "raw materials and semi-manufactures", "consumer goods" and "foodstuffs" increased by 40.4%, 3.3%, 3.2% and 0.5% respectively.  On the other hand, the import prices of "capital goods" decreased by 0.6%.

Further information

Details of the above statistics are published in the June 2005 issue of the "Hong Kong Merchandise Trade Index Numbers".

The above publication will be on sale around August 22, 2005 at HK$19 per issue.  Both print version and download version of the publication can be purchased online at the "Statistical Bookstore, Hong Kong" (http://www.statisticalbookstore.gov.hk).  Download version of the publication can be purchased at 75% of its original price exclusively at the online Statistical Bookstore.  Print version if purchased online is also offered a discount, at 85% of its original price at the Statistical Bookstore as well as the Government Bookstore (http://www.isd.gov.hk/eng/bookorder.htm).  For purchase of print version, this can be done through mail order by returning a completed order form which can be downloaded from the C&SD's website (http://www.info.gov.hk/censtatd/eng/prod_serv/forms_index.html).  Purchase can also be made in person at the Publications Unit of the C&SD (Address: 19/F, Wanchai Tower, 12 Harbour Road, Wan Chai; Tel.: 2582 3025).

Moreover, enquiries on trade indices may be directed to the Census and Statistics Department (Tel. No.: 2582 4918).

Ends/Monday, August 22, 2005

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