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Further to the external merchandise trade statistics in value terms for September 2009 released earlier on, the Census and Statistics Department (C&SD) released today (November 10) the volume and price statistics of external merchandise trade for that month.
In September 2009, the volume of Hong Kong's re-exports of goods decreased by 6.5% over September 2008, while that of domestic exports dropped sharply, by 32.2%. Taken together, the volume of total exports of goods decreased by 7.2%. Concurrently, the volume of imports of goods decreased by 0.6%.
Comparing the first nine months of 2009 with the same period in 2008, the volume of Hong Kong's re-exports of goods decreased by 14.6%, while that of domestic exports dropped sharply, by 38.4%. Taken together, the volume of total exports of goods decreased by 15.3%. Concurrently, the volume of imports of goods decreased by 13.8%.
Comparing the third quarter of 2009 with the preceding quarter on a seasonally adjusted basis, the volume of total exports of goods decreased by 4.7%. Within this total, the volume of re-exports decreased by 4.6%, while that of domestic exports decreased by 9.5%. On the other hand, the volume of imports of goods increased by 4.2%.
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 2009 with September 2008, the prices of re-exports of goods increased slightly, by 0.2%, whereas that of domestic exports decreased by 1.9%. Taken together, the prices of total exports of goods increased marginally, by 0.1%. On the other hand, the prices of imports of goods decreased by 0.9%.
As regards price changes in the first nine months of 2009 over the same period in 2008, the prices of re-exports of goods increased by 1.2%, while those of domestic exports were virtually unchanged. Taken together, the prices of total exports of goods increased by 1.1%. On the other hand, the prices of imports of goods decreased by 0.5%.
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 period in 2008, the index increased by 1.0% in September 2009 and 1.6% in the first nine months of 2009.
Changes in the unit value and volume of total exports of goods by main destination are shown in Table 1.
Comparing September 2009 with September 2008, the total export volume to the USA and the United Kingdom fell significantly, by 25.9% and 20.1% respectively. Concurrently, the total export volume to Germany and Japan decreased by 13.6% and 10.4% respectively. On the other hand, the total export volume to the mainland of China (the Mainland) increased by 3.3%.
Over the same period of comparison, the total export prices to Germany, the Mainland and Japan increased by 2.0%, 0.8% and 0.3% respectively. On the other hand, the total export prices to the USA and the United Kingdom decreased by 0.7% and 1.6% respectively.
Changes in the unit value and volume of imports of goods by main supplier are shown in Table 2.
In September 2009, a double-digit decrease of 12.4% was recorded for the import volume from the USA over September 2008. Concurrently, the import volume from Japan, Singapore and the Mainland decreased by 5.2%, 2.4% and 1.9% respectively. On the other hand, the import volume from Taiwan increased by 11.2%.
Comparing September 2009 with September 2008, the import prices from Singapore, the USA, the Mainland and Japan decreased by 1.7%, 0.8%, 0.6% and 0.1% respectively. On the other hand, the import prices from Taiwan increased by 2.0%.
Further information
Details of the above statistics are published in the September 2009 issue of the "Hong Kong Merchandise Trade Index Numbers". Users can download the publication free of charge at the website of the C&SD (http://www.censtatd.gov.hk/products_and_services/products/publications/statistical_report/external_trade/index.jsp).
Enquiries on merchandise trade indices may be directed to Trade Analysis Section of the C&SD (Tel: 2582 4918).
Ends/Tuesday, November 10, 2009
Issued at HKT 16:30
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