************************************************************
Further to the external merchandise trade statistics in value terms for July 2007 released earlier on, the Census and Statistics Department (C&SD) released today (September 14) the volume and price statistics of external merchandise trade for that month.
In July 2007, the volume of Hong Kong's re-exports of goods increased by 10.8% over July 2006, whereas that of domestic exports fell significantly, by 24.9%. Taken together, the volume of total exports of goods increased by 8.5%. Concurrently, the volume of imports of goods increased by 10.2%.
Comparing the first seven months of 2007 with the same period in 2006, the volume of Hong Kong's re-exports of goods rose by 11.7%, whereas that of domestic exports dropped significantly, by 26.1%. Taken together, the volume of total exports of goods grew by 9.4%. Concurrently, the volume of imports of goods increased by 10.6%.
Comparing the three-month period ending July 2007 with the preceding three months on a seasonally adjusted basis, the volume of total exports of goods decreased by 0.9%. Within this total, the volume of re-exports decreased by 0.9%, and that of domestic exports increased by 0.6%. Concurrently, the volume of imports of goods decreased by 1.3%.
Changes in volume of external merchandise trade are derived from changes in external merchandise trade value with the effect of price changes discounted.
Comparing July 2007 with July 2006, the prices of re-exports of goods increased by 1.9%, while those of domestic exports increased 0.8%. Taken together, the prices of total exports of goods increased by 1.8%. Concurrently, the prices of imports of goods increased by 1.6%.
As regards price changes in the first seven months of 2007 over the same period in 2006, the prices of re-exports of goods increased by 2.3%, while those of domestic exports increased by 0.5%. Taken together, the prices of total exports of goods increased by 2.2%. Concurrently, the prices of imports of goods increased by 2.1%.
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 2006, the index increased by 0.2% in July 2007 and 0.1% in the first seven months of 2007.
Changes in the value, unit value and volume of total exports of goods by main destination are shown in Table 1.
Comparing July 2007 with July 2006, the total export volume to Germany and the mainland of China (the Mainland) increased by 21.3% and 14.2% respectively. On the other hand, the total export volume to USA, Japan and the United Kingdom decreased by 3.3%, 6.0% and 7.4% respectively.
Comparing July 2007 with July 2006, the total export prices to the Mainland, the United Kingdom, USA and Japan increased by 2.5%, 1.9%, 1.5% and 0.5% respectively. On the other hand, the total export price to Germany decreased by 0.9%.
Changes in the value, unit value and volume of imports of goods by main supplier are shown in Table 2.
In July 2007, double-digit growth was recorded for the import volume from Singapore (+19.2%), the Mainland (+10.8%) and Taiwan (+10.7%) over July 2006. Concurrently, the import volume from Japan increased by 4.8%, whereas that from USA decreased by 1.9%.
In July 2007, the import prices from the Mainland, Taiwan and Japan increased by 2.3%, 0.5% and 0.3% respectively over July 2006. On the other hand, the import prices from Singapore and USA decreased by 0.6% and 1.2% respectively.
Further information
Details of the above statistics are published in the July 2007 issue of the "Hong Kong Merchandise Trade Index Numbers". Users can download this publication free of charge at the Website of C&SD (www.censtatd.gov.hk/products_and_services/products/publications/index.jsp).
Print version of this publication is available for sale at HK$26 per issue. Purchase can be done in person at the Publications Unit of the C&SD (Address: 19/F Wanchai Tower, 12 Harbour Road, Wan Chai; Tel: 2582 3025) or through mail order by returning a completed order form which can be downloaded from the C&SD's website (www.censtatd.gov.hk/products_and_services/other_services/provision_of_stat/mail_ordering_of_publications/index.jsp). Print version of this publication is also available for sale online at the Statistical Bookstore (www.statisticalbookstore.gov.hk) and the Government Bookstore of the Information Services Department (www.bookstore.gov.hk). Print versions if purchased online are offered a discount, at 85% of their original prices.
Enquiries on merchandise trade indices may be directed to Trade Analysis Section of the C&SD (Tel: 2582 4918).
Ends/Friday, September 14, 2007
Issued at HKT 16:17
NNNN