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Further to the external merchandise trade statistics in value terms for September 2007 released earlier on, the Census and Statistics Department (C&SD) released today (November 12) the volume and price statistics of external merchandise trade for that month.
In September 2007, the volume of Hong Kong's re-exports of goods increased by 8.5% over September 2006, whereas that of domestic exports decreased by 9.9%. Taken together, the volume of total exports of goods increased by 7.6%. Concurrently, the volume of imports of goods increased by 9.3%.
Comparing the first nine months of 2007 with the same period in 2006, the volume of Hong Kong's re-exports of goods rose by 11.0%, whereas that of domestic exports dropped significantly, by 24.4%. Taken together, the volume of total exports of goods grew by 8.9%. Concurrently, the volume of imports of goods increased by 10.4%.
Comparing the third quarter of 2007 with the preceding quarter on a seasonally adjusted basis, the volume of total exports of goods increased by 0.4%. Within this total, the volume of re-exports increased by 0.9%, and that of domestic exports decreased by 9.8%. Concurrently, the volume of imports of goods increased by 0.7%.
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 2007 with September 2006, the prices of re-exports of goods increased by 2.4%, while those of domestic exports increased by 0.9%. Taken together, the prices of total exports of goods increased by 2.3%. Concurrently, the prices of imports of goods increased by 2.2%.
As regards price changes in the first nine 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 0.6%. 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 0.1% both in September 2007 and in the first nine 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 September 2007 with September 2006, the total export volume to Germany and the mainland of China (the Mainland) increased by 18.2% and 12.5% respectively. On the other hand, the total export volume to the USA, Japan and the United Kingdom decreased by 4.4%, 5.3% and 10.6% respectively.
Comparing September 2007 with September 2006, the total export prices to the USA, the Mainland, the United Kingdom and Germany increased by 3.4%, 2.8%, 2.6% and 0.5% respectively. On the other hand, the total export price to Japan decreased marginally, by 0.1%.
Changes in the value, unit value and volume of imports of goods by main supplier are shown in Table 2.
In September 2007, the import volume from the USA increased significantly, by 24.5% over September 2006. Double-digit growth was also recorded for the import volume from Singapore (+18.9%) over the same periods of comparison. Concurrently, the import volume from Japan, the Mainland and Taiwan increased by 9.1%, 6.9% and 2.9% respectively.
Comparing September 2007 with September 2006, the import prices from Taiwan, Singapore, the Mainland and Japan increased by 3.5%, 3.5%, 2.1% and 1.8% respectively, and that from the USA was virtually unchanged.
Further information
Details of the above statistics are published in the September 2007 issue of the "Hong Kong Merchandise Trade Index Numbers". Users can download this publication free of charge at the website of the Census and Statistics Department (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 Government Bookstore of the Information Services Department (www.bookstore.gov.hk).
Enquiries on merchandise trade indices may be directed to Trade Analysis Section of the C&SD (Tel: 2582 4918).
Ends/Monday, November 12, 2007
Issued at HKT 16:15
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