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Further to the external merchandise trade statistics in value terms for March 2013 released earlier on, the Census and Statistics Department (C&SD) released today (May 9) the volume and price statistics of external merchandise trade for that month.
In March 2013, the volume of Hong Kong's re-exports of goods increased by 11.5% over March 2012, whereas that of domestic exports decreased slightly, by 0.2%. Taken together, the volume of total exports of goods increased by 11.3%. Concurrently, the volume of imports of goods increased by 11.1%.
For the first quarter of 2013 as a whole, the volume of Hong Kong's re-exports of goods increased by 4.2% over the same period in 2012, whereas that of domestic exports decreased by 4.5%. Taken together, the volume of total exports of goods increased by 4.0%. Concurrently, the volume of imports of goods increased by 5.0%.
Comparing the first quarter of 2013 with the fourth quarter of 2012 on a seasonally adjusted basis, the volume of total exports of goods decreased by 1.5%. Within this total, the volume of re-exports decreased by 1.5%, while that of domestic exports decreased by 3.0%. Concurrently, the volume of imports of goods decreased by 1.4%.
Changes in volume of external merchandise trade are derived from changes in external merchandise trade value with the effect of price changes discounted.
Comparing March 2013 with March 2012, the prices of re-exports of goods increased by 0.9%, while those of domestic exports increased by 4.0%. Taken together, the prices of total exports of goods increased by 0.9%. Concurrently, the prices of imports of goods increased by 1.5%.
As regards price changes in the first quarter of 2013 over the same period in 2012, the prices of re-exports of goods increased by 0.5%, while those of domestic exports increased by 4.2%. Taken together, the prices of total exports of goods increased by 0.6%. Concurrently, the prices of imports of goods increased by 1.1%.
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 periods in 2012, the index decreased by 0.6% and 0.5% in March 2013 and in the first quarter of 2013 respectively.
Changes in the unit value and volume of total exports of goods by main destination are shown in Table 1.
Comparing March 2013 with March 2012, double-digit increases were recorded for the total export volume to the mainland of China (the Mainland) (19.4%), Taiwan (17.0%) and India (11.9%). On the other hand, the total export volume to Japan and the USA decreased by 1.7% and 5.9% respectively.
Over the same period of comparison, the total export prices to the USA, Taiwan, India and Japan increased by 6.0%, 3.7%, 1.4% and 1.2% respectively. On the other hand, the total export prices to the Mainland decreased by 0.6%.
Changes in the unit value and volume of imports of goods by main supplier are shown in Table 2.
Comparing March 2013 with March 2012, double-digit increases were recorded for the import volume from Taiwan (14.2%) and the Mainland (13.7%). Concurrently, the import volume from the USA and Singapore also increased by 9.3% and 6.6% respectively. On the other hand, the import volume from Japan decreased by 4.9%.
Over the same period of comparison, the import prices from Taiwan, the Mainland and the USA increased by 2.2%, 2.1% and 1.9% respectively. On the other hand, the import prices from Japan and Singapore decreased by 0.9% and 2.5% respectively.
Further information
Details of the above statistics are published in the March 2013 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, May 9, 2013
Issued at HKT 16:30
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