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Further to the external merchandise trade statistics in value terms for October 2009 released earlier on, the Census and Statistics Department (C&SD) released today (December 17) the volume and price statistics of external merchandise trade for that month.
In October 2009, the volume of Hong Kong's re-exports of goods decreased by 13.2% over October 2008, while that of domestic exports dropped sharply, by 30.7%. Taken together, the volume of total exports of goods decreased by 13.7%. Concurrently, the volume of imports of goods decreased by 9.4%.
Comparing the first ten months of 2009 with the same period in 2008, the volume of Hong Kong's re-exports of goods decreased by 14.4%, while that of domestic exports dropped sharply, by 37.6%. Taken together, the volume of total exports of goods decreased by 15.1%. Concurrently, the volume of imports of goods decreased by 13.3%.
Comparing the three-month period ending October 2009 with the preceding three months on a seasonally adjusted basis, the volume of total exports of goods increased by 2.6%. Within this total, the volume of re-exports increased by 2.7%, whereas that of domestic exports decreased by 1.2%. Concurrently, the volume of imports of goods increased by 7.9%.
Changes in volume of external merchandise trade are derived from changes in external merchandise trade value with the effect of price changes discounted.
Comparing October 2009 with October 2008, the prices of re-exports of goods increased by 0.9%, whereas that of domestic exports decreased by 1.9%. Taken together, the prices of total exports of goods increased by 0.8%. On the other hand, the prices of imports of goods decreased slightly, by 0.3%.
As regards price changes in the first ten months of 2009 over the same period in 2008, the prices of re-exports of goods increased by 1.1%, whereas those of domestic exports decreased slightly, by 0.2%. 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 1.1% in October 2009 and 1.6% in the first ten months of 2009.
Changes in the unit value and volume of total exports of goods by main destination are shown in Table 1.
In October 2009, the total export volume to the USA fell significantly, by 21.9% over October 2008. Concurrently, the total export volume to Germany, Japan and the Mainland of China (the Mainland) decreased by 19.8%, 12.6% and 11.1% respectively. On the other hand, the total export volume to Taiwan increased by 2.6%.
Over the same period of comparison, the total export prices to Taiwan, the Mainland, Germany and Japan increased by 2.8%, 1.9%, 1.6% and 0.1% respectively. On the other hand, the total export prices to the USA decreased by 0.7%.
Changes in the unit value and volume of imports of goods by main supplier are shown in Table 2.
Comparing October 2009 with October 2008, double-digit decreases were recorded for the import volume from Singapore (-15.4%), the Mainland (-14.6%) and Japan (-12.8%). Concurrently, the import volume from Taiwan decreased by 7.8%. On the other hand, the import volume from the USA increased by 4.0%.
In October 2009, the import prices from the Mainland decreased by 0.7% over October 2008. On the other hand, the import prices from Japan, the USA, Singapore and Taiwan increased by 0.2%, 0.3%, 1.1% and 2.1% respectively.
Further information
Details of the above statistics are published in the October 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/Thursday, December 17, 2009
Issued at HKT 16:30
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