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Further to the external merchandise trade statistics in value terms for August 2012 released earlier on, the Census and Statistics Department (C&SD) released today (October 18) the volume and price statistics of external merchandise trade for that month.
In August 2012, the volume of Hong Kong's re-exports of goods increased marginally, by 0.1% over August 2011, whereas that of domestic exports decreased by 9.6%. Taken together, the volume of total exports of goods decreased marginally, by 0.1%. Concurrently, the volume of imports of goods decreased by 0.5%.
Comparing the first eight months of 2012 with the same period in 2011, the volume of Hong Kong's re-exports of goods decreased by 3.8%, while that of domestic exports decreased by 18.3%. Taken together, the volume of total exports of goods decreased by 4.1%. Concurrently, the volume of imports of goods decreased by 2.5%.
Comparing the three-month period ending August 2012 with the preceding three months on a seasonally adjusted basis, the volume of total exports of goods decreased by 0.7%. Within this total, the volume of re-exports decreased by 0.7%, whereas that of domestic exports increased by 0.5%. On the other hand, the volume of imports of goods increased by 1.0%.
Changes in volume of external merchandise trade are derived from changes in external merchandise trade value with the effect of price changes discounted.
Comparing August 2012 with August 2011, the prices of re-exports of goods increased by 1.3%, while that of domestic exports increased by 2.1%. Taken together, the prices of total exports of goods increased by 1.3%. Concurrently, the prices of imports of goods increased by 1.8%.
As regards price changes in the first eight months of 2012 over the same period in 2011, the prices of re-exports of goods increased by 4.3%, while those of domestic exports increased by 2.6%. Taken together, the prices of total exports of goods increased by 4.3%. Concurrently, the prices of imports of goods increased by 3.9%.
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 0.5% in August 2012, whereas it increased by 0.4% in the first eight months of 2012.
Changes in the unit value and volume of total exports of goods by main destination are shown in Table 1.
Comparing August 2012 with August 2011, the total export volume to Taiwan and Germany fell significantly, by 22.4% and 21.4% respectively. Concurrently, the total export volume to the USA decreased by 7.5%. On the other hand, the total export volume to Japan and the mainland of China (the Mainland) increased by 0.5% and 8.0% respectively.
Over the same period of comparison, the total export prices to Japan, the USA, Germany and the Mainland increased by 4.4%, 2.8%, 2.8% and 1.1% respectively. On the other hand, the total export prices to Taiwan decreased by 0.7%.
Changes in the unit value and volume of imports of goods by main supplier are shown in Table 2.
Comparing August 2012 with August 2011, a double-digit decrease of 14.0% was recorded for the import volume from Singapore. Concurrently, the import volume from Japan, the USA and Taiwan decreased by 4.3%, 4.0% and 1.0% respectively. On the other hand, the import volume from the Mainland increased by 5.2%.
Over the same period of comparison, the import prices from Singapore, the Mainland and the USA increased by 5.1%, 2.4% and 1.4% respectively. On the other hand, the import prices from Japan and Taiwan decreased by 0.6% and 0.7% respectively.
Further information
Details of the above statistics are published in the August 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/Thursday, October 18, 2012
Issued at HKT 16:30
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