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Further to the external merchandise trade statistics in value terms for September 2005 released earlier on, the Census and Statistics Department today (November 21) released the volume and price statistics of external merchandise trade for that month.
In September 2005, the volume of Hong Kong's re-exports of goods increased by 17.3% over September 2004, and that of domestic exports by 25.2%. Taken together, the volume of total exports of goods increased by 17.8%. Concurrently, the volume of imports of goods increased by 14.7%.
Comparing the first nine months of 2005 with the same period in 2004, the volume of Hong Kong's re-exports of goods rose by 12.1%, while that of domestic exports was virtually unchanged. Taken together, the volume of total exports of goods grew by 11.4%. Concurrently, the volume of imports of goods increased by 7.6%.
Comparing the third quarter of 2005 with the preceding quarter on a seasonally adjusted basis, the volume of total exports of goods increased by 1.9%. Within this total, the volume of re-exports increased by 0.7%, while that of domestic exports grew significantly, by 24.6%. Concurrently, the volume of imports of goods increased by 1.7%.
Changes in volume of external merchandise trade are derived from changes in external merchandise trade value with the effect of price changes discounted.
Comparing September 2005 with September 2004, the prices of re-exports of goods increased by 0.7%, and those of domestic exports marginally, by 0.1%. Taken together, the prices of total exports of goods increased by 0.7%. Concurrently, the prices of imports of goods increased by 2.0%.
As regards price changes in the first nine months of 2005 over the same period in 2004, the prices of re-exports of goods increased by 1.5%, and those of domestic exports by 3.2%. Taken together, the prices of total exports of goods were up by 1.6%. Concurrently, the prices of imports of goods increased by 3.1%.
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 1.2% in September 2005 and 1.5% in the first nine months of 2005.
Changes in the value, unit value and volume of re-exports of goods by end-use category are shown in Table 1.
The re-export volume of "capital goods" increased substantially, by 25.3% in September 2005 over September 2004. Marked increases in re-export volume were noted for "construction machinery" and "transport equipment".
In September 2005, the re-export volume of "raw materials and semi-manufactures" increased by 18.5% over September 2004. Significant increases in re-export volume were noted for "electronic components" and "chemical elements and compounds". On the other hand, notable decreases in re-export volume were recorded for "lime, cement, and fabricated building materials except glass, clay construction materials and refractory construction materials" and "wool and animal hair, and yarn, thread and fabrics of wool and animal hair".
In September 2005, the volume of re-exports of "consumer goods" increased by 9.9% over September 2004. Significant increases in re-export volume were recorded for "passenger motor cars" and "jewellery, precious stones and related articles". On the other hand, decreases in re-export volume were recorded for "tobacco manufactures" and "household-type electrical appliances".
Over the same periods of comparison, the re-export volume of "foodstuffs" increased by 6.3%, while that of "fuels" decreased significantly, by 25.6%.
Comparing September 2005 with September 2004, the re-export prices of "fuels" and "consumer goods" increased by 51.9% and 2.5% respectively. On the other hand, the re-export prices of "raw materials and semi-manufactures" and "capital goods" decreased by 0.5% and 0.3% respectively. Concurrently, the re-export prices of "foodstuffs" were virtually unchanged.
Changes in the value, unit value and volume of domestic exports of goods by selected principal commodity group are shown in Table 2.
Comparing September 2005 with September 2004, the volume of domestic exports of "office machines and equipment" and "electronic components" increased sharply, by 281.8% and 26.0% respectively. On the other hand, the volume of domestic exports of "textiles" and "metal manufactures" decreased by 6.0% and 4.0% respectively.
Over the same periods of comparison, increases were recorded in the prices of domestic exports of some 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.
Comparing September 2005 with September 2004, the import volume of "capital goods" increased substantially, by 21.2%. Within this total, significant increases were recorded in the import volume of "telecommunications equipment" and "construction machinery". On the other hand, decreases in import volume were recorded for "transport equipment" and "industrial machinery".
The import volume of "raw materials and semi-manufactures" increased by 14.1% in September 2005 over September 2004. Substantial increases in import volume were noted for "electronic components" and "plastic materials". On the other hand, significant decreases in import volume were recorded for "wool and animal hair, and yarn, thread and fabrics of wool and animal hair" and "wood, lumber and cork".
The import volume of "consumer goods" increased by 11.1% in September 2005 over September 2004. Significant increases in import volume were recorded for "passenger motor cars" and "jewellery, precious stones and related articles". On the other hand, decreases in import volume were noted for "alcoholic beverages" and "household-type electrical appliances".
Over the same periods of comparison, the import volume of "foodstuffs" increased by 1.6%, while that of "fuels" decreased by 1.0%.
Comparing September 2005 with September 2004, the import prices of "fuels", "consumer goods" and "raw materials and semi-manufactures" increased by 39.2%, 2.1% and 1.8% respectively. On the other hand, the import prices of "capital goods" and "foodstuffs" decreased by 1.1% and 0.7% respectively.
Further information
Details of the above statistics are published in the September 2005 issue of the "Hong Kong Merchandise Trade Index Numbers".
The above publication will be on sale around 21 November 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.censtatd.gov.hk/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, November 21, 2005
Issued at HKT 16:15
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