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Volume and price statistics of external merchandise trade in January 2012
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     Further to the external merchandise trade statistics in value terms for January 2012 released earlier on, the Census and Statistics Department (C&SD) released today (March 15) the volume and price statistics of external merchandise trade for that month.

     In January 2012, the volume of Hong Kong's re-exports of goods decreased by 13.6% over January 2011, while that of domestic exports dropped sharply, by 47.9%.  Taken together, the volume of total exports of goods decreased by 14.3%.  Concurrently, the volume of imports of goods fell by 14.9%.

     Comparing the three months ending January 2012 with the three months ending January 2011, the volume of Hong Kong's re-exports of goods decreased by 4.5%, while that of domestic exports dropped sharply, by 41.1%.  Taken together, the volume of total exports of goods decreased by 5.3%.  Concurrently, the volume of imports of goods decreased by 3.2%.

     Comparing the three-month period ending January 2012 with the preceding three months on a seasonally adjusted basis, the volume of total exports of goods increased by 1.0%.  Within this total, the volume of re-exports increased by 1.1%, whereas that of domestic exports decreased by 9.5%.  On the other hand, the volume of imports of goods decreased slightly, by 0.3%.

     Changes in volume of external merchandise trade are derived from changes in external merchandise trade value with the effect of price changes discounted.

     Comparing January 2012 with January 2011, the prices of re-exports of goods increased by 7.3%, while those of domestic exports increased by 3.3%.  Taken together, the prices of total exports of goods increased by 7.2%.  Concurrently, the prices of imports of goods increased by 6.6%.

     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 2011, the index increased by 0.5% in January 2012.

     Changes in the unit value and volume of total exports of goods by main destination are shown in Table 1.

     Comparing January 2012 with January 2011, double-digit decreases were recorded for the total export volume to Germany (-16.4%), the mainland of China (the Mainland) (-16.4%), the USA (-13.9%), Japan (-11.7%) and Korea (-10.0%).

     Over the same period of comparison, the total export prices to all main destinations increased: the USA (+9.8%), Japan (+8.4%), Germany (+7.3%), the Mainland (+7.1%) and Korea (+2.0%).

     Changes in the unit value and volume of imports of goods by main supplier are shown in Table 2.

     Comparing January 2012 with January 2011, double-digit decreases were recorded for the import volume from Taiwan (-23.7%), Japan (-21.1%), Singapore (-17.7%), the USA (-17.5%) and the Mainland (-13.6%).
 
     Over the same period of comparison, the import prices from all main suppliers increased: Singapore (+9.9%), the Mainland (+7.1%), the USA (+6.2%), Japan (+6.0%) and Taiwan (+3.2%).

Further information

     Details of the above statistics are published in the January 2012 issue of "Hong Kong Merchandise Trade Index Numbers".  Users can download the publication free of charge at the website of the C&SD (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 (1) of the C&SD (Tel.: 2582 4918).

Ends/Thursday, March 15, 2012
Issued at HKT 16:30

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