Volume and price statistics of external merchandise trade in June 2012
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     Further to the external merchandise trade statistics in value terms for June 2012 released earlier on, the Census and Statistics Department (C&SD) released today (August 14) the volume and price statistics of external merchandise trade for that month.

     In June 2012, the volume of Hong Kong's re-exports of goods decreased by 8.7% over June 2011, while that of domestic exports decreased by 13.0%.  Taken together, the volume of total exports of goods decreased by 8.8%.  Concurrently, the volume of imports of goods decreased by 5.6%.

     Comparing the first half of 2012 with the same period in 2011, the volume of Hong Kong's re-exports of goods decreased by 4.3%, while that of domestic exports fell significantly, by 22.2%.  Taken together, the volume of total exports of goods decreased by 4.6%.  Concurrently, the volume of imports of goods decreased by 2.7%.

     Comparing the second quarter of 2012 with the preceding quarter on a seasonally adjusted basis, the volume of total exports of goods decreased by 4.2%.  Within this total, the volume of re-exports decreased by 4.3%, whereas that of domestic exports increased by 1.4%.  Concurrently, the volume of imports of goods decreased by 1.9%.

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

     Comparing June 2012 with June 2011, the prices of re-exports of goods increased by 4.8%, while that of domestic exports increased by 1.6%.  Taken together, the prices of total exports of goods increased by 4.8%.  Concurrently, the prices of imports of goods increased by 3.2%.

     As regards price changes in the first half of 2012 over the same period in 2011, the prices of re-exports of goods increased by 5.3%, while those of domestic exports increased by 2.8%.  Taken together, the prices of total exports of goods increased by 5.3%.  Concurrently, the prices of imports of goods increased by 4.4%.

     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 1.5% and 0.8% in June 2012 and in the first half of 2012 respectively.

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

     Comparing June 2012 with June 2011, a double-digit decrease of 18.4% was recorded for the total export volume to Germany.  Concurrently, the total export volume to the mainland of China (the Mainland), Japan and the USA decreased by 8.6%, 4.6% and 4.2% respectively.  On the other hand, the total export volume to Taiwan increased by 4.7%.

     Over the same period of comparison, the total export prices to all main destinations increased: Japan (+6.8%), the Mainland (+5.2%), the USA (+4.7%), Germany (+4.4%) and Taiwan (+1.3%).

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

     Comparing June 2012 with June 2011, a double-digit decrease of 16.0% was recorded for the import volume from Singapore.  Concurrently, the import volume from the Mainland, Japan and the USA decreased by 8.7%, 6.6% and 4.6% respectively.  On the other hand, the import volume from Taiwan increased by 7.5%.

     Over the same period of comparison, the import prices from Singapore, the Mainland and Taiwan increased by 5.6%, 4.8% and 1.7% respectively.  On the other hand, the import prices from the USA and Japan decreased by 0.4% and 1.4% respectively.

Further information

     Details of the above statistics are published in the June 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/hkstat/sub/sp230.jsp?productCode=B1020006).

     Enquiries on merchandise trade indices may be directed to Trade Analysis Section (1) of the C&SD (Tel.: 2582 4918).

Ends/Tuesday, August 14, 2012
Issued at HKT 16:30

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