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Further to the external merchandise trade statistics in value terms for July 2012 released earlier on, the Census and Statistics Department (C&SD) released today (September 18) the volume and price statistics of external merchandise trade for that month.
In July 2012, the volume of Hong Kong's re-exports of goods decreased by 5.2% over July 2011, while that of domestic exports decreased by 1.1%. Taken together, the volume of total exports of goods decreased by 5.1%. Concurrently, the volume of imports of goods decreased by 3.8%.
Comparing the first seven months of 2012 with the same period in 2011, the volume of Hong Kong's re-exports of goods decreased by 4.4%, while that of domestic exports decreased by 19.6%. Taken together, the volume of total exports of goods decreased by 4.7%. Concurrently, the volume of imports of goods decreased by 2.9%.
Comparing the three-month period ending July 2012 with the preceding three months on a seasonally adjusted basis, the volume of total exports of goods decreased by 3.4%. Within this total, the volume of re-exports decreased by 3.5%, while that of domestic exports decreased by 1.9%. Concurrently, the volume of imports of goods decreased by 1.7%.
Changes in volume of external merchandise trade are derived from changes in external merchandise trade value with the effect of price changes discounted.
Comparing July 2012 with July 2011, the prices of re-exports of goods increased by 2.2%, while that of domestic exports increased by 1.1%. Taken together, the prices of total exports of goods increased by 2.2%. Concurrently, the prices of imports of goods increased by 2.8%.
As regards price changes in the first seven months of 2012 over the same period in 2011, the prices of re-exports of goods increased by 4.8%, while those of domestic exports increased by 2.6%. Taken together, the prices of total exports of goods increased by 4.8%. Concurrently, the prices of imports of goods increased by 4.2%.
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 decreased by 0.6% in July 2012, whereas it increased by 0.6% in the first seven months of 2012.
Changes in the unit value and volume of total exports of goods by main destination are shown in Table 1.
Comparing July 2012 with July 2011, a double-digit decrease of 19.7% was recorded for the total export volume to Germany. Concurrently, the total export volume to Taiwan, Japan and the mainland of China (the Mainland) also decreased by 5.1%, 2.4% and 1.2% respectively. On the other hand, the total export volume to the USA increased by 0.4%.
Over the same period of comparison, the total export prices to Japan, the USA, Germany and the Mainland increased by 4.3%, 3.6%, 2.6% and 2.2% respectively. On the other hand, the total export prices to Taiwan decreased by 0.5%.
Changes in the unit value and volume of imports of goods by main supplier are shown in Table 2.
Comparing July 2012 with July 2011, the import volume from Singapore, Japan and the Mainland decreased by 5.9%, 5.7% and 2.3% respectively. On the other hand, the import volume from the USA and Taiwan increased by 1.4% and 8.0% respectively.
Over the same period of comparison, the import prices from the Mainland, Taiwan, Singapore and the USA increased by 4.1%, 2.4%, 2.0% and 0.2% respectively. On the other hand, the import prices from Japan decreased by 0.4%.
Further information
Details of the above statistics are published in the July 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, September 18, 2012
Issued at HKT 16:30
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