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Further to the external merchandise trade statistics in value terms for November 2012 released earlier on, the Census and Statistics Department (C&SD) released today (January 17) the volume and price statistics of external merchandise trade for that month.
In November 2012, the volume of Hong Kong's re-exports of goods increased by 10.5% over November 2011, whereas that of domestic exports decreased by 3.6%. Taken together, the volume of total exports of goods increased by 10.2%. Concurrently, the volume of imports of goods increased by 7.6%.
Comparing the first eleven months of 2012 with the same period in 2011, the volume of Hong Kong's re-exports of goods decreased by 1.1%, while that of domestic exports decreased by 14.3%. Taken together, the volume of total exports of goods decreased by 1.3%. On the other hand, the volume of imports of goods increased marginally, by 0.1%.
Comparing the three-month period ending November 2012 with the preceding three months on a seasonally adjusted basis, the volume of total exports of goods increased by 6.8%. Within this total, the volume of re-exports increased by 7.0%, whereas that of domestic exports decreased by 2.6%. Concurrently, the volume of imports of goods increased by 7.0%.
Changes in volume of external merchandise trade are derived from changes in external merchandise trade value with the effect of price changes discounted.
Comparing November 2012 with November 2011, the prices of re-exports of goods increased by 1.1%, while those of domestic exports increased by 2.9%. Taken together, the prices of total exports of goods increased by 1.2%. Concurrently, the prices of imports of goods increased by 2.1%.
As regards price changes in the first eleven months of 2012 over the same period in 2011, the prices of re-exports of goods increased by 3.6%, while those of domestic exports increased by 2.5%. Taken together, the prices of total exports of goods increased by 3.6%. Concurrently, the prices of imports of goods increased by 3.4%.
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 decreased by 0.9% in November 2012, whereas it increased slightly, by 0.2% in the first eleven months of 2012.
Changes in the unit value and volume of total exports of goods by main destination are shown in Table 1.
Comparing November 2012 with November 2011, the total export volume to the mainland of China (the Mainland) recorded a double-digit increase of 19.4%. Concurrently, the total export volume to Japan increased by 9.4%. On the other hand, the total export volume to the USA, Germany and Taiwan decreased by 1.1%, 10.7% and 11.9% respectively.
Over the same period of comparison, the total export prices to all main destinations increased: Taiwan (+3.7%), Japan (+3.6%), Germany (+3.3%), the USA (+2.5%) and the Mainland (+1.0%).
Changes in the unit value and volume of imports of goods by main supplier are shown in Table 2.
Comparing November 2012 with November 2011, the import volume from the Mainland recorded a double-digit increase of 18.9%. On the other hand, the import volume from Taiwan, Japan and Singapore decreased by 0.8%, 3.2% and 8.9% respectively, while that from the USA fell significantly, by 23.0%.
Over the same period of comparison, the import prices from the USA, Taiwan, the Mainland and Singapore increased by 3.8%, 2.7%, 2.2% and 1.9% respectively. On the other hand, the import prices from Japan decreased by 1.3%.
Further information
Details of the above statistics are published in the November 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, January 17, 2013
Issued at HKT 16:30
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