Traditional Chinese Simplified Chinese Email this article news.gov.hk
External merchandise trade statistics for October 2013
******************************************************

     The Census and Statistics Department (C&SD) released today (November 26) the external merchandise trade statistics for October 2013.  In October 2013, the values of Hong Kong's total exports and imports of goods both showed year-on-year increases, at 8.8% and 6.3% respectively.

     In October 2013, the value of total exports of goods (comprising re-exports and domestic exports) increased by 8.8% over a year earlier to $323.1 billion, after a year-on-year increase of 1.5% in September 2013.  Within this total, the value of re-exports increased by 9.1% to $318.7 billion in October 2013, whereas the value of domestic exports decreased by 7.7% to $4.5 billion. Concurrently, the value of imports of goods increased by 6.3% over a year earlier to $361.2 billion in October 2013, after a year-on-year increase of 0.4% in September 2013. A visible trade deficit of $38.1 billion, equivalent to 10.5% of the value of imports of goods, was recorded in October 2013.

     For the first 10 months of 2013 as a whole, the value of total exports of goods rose by 3.8% over the same period in 2012. Within this total, the value of re-exports increased by 4.0%, whereas the value of domestic exports decreased by 7.3%.  Concurrently, the value of imports of goods increased by 3.9%. A visible trade deficit of $402.1 billion, equivalent to 12.1% of the value of imports of goods, was recorded in the first 10 months of 2013.

     Comparing the three-month period ending October 2013 with the preceding three months on a seasonally adjusted basis, the value of total exports of goods rose by 2.7%. Within this total, the value of re-exports increased by 2.8%, whereas the value of domestic exports went down by 2.9%. Meanwhile, the value of imports of goods increased by 3.5%.

Analysis by country/territory

     Comparing October 2013 with October 2012, total exports to Asia as a whole grew by 10.8%. In this region, increases were registered in the values of total exports to most major destinations, in particular Korea (+28.1%), Thailand (+22.0%), Vietnam (+21.7%), Singapore (+15.3%) and the mainland of China (the Mainland) (+10.4%). On the other hand, decreases were recorded in the values of total exports to Malaysia (-3.6%) and India (-0.8%).

     Apart from destinations in Asia, increases were also registered in the values of total exports to some major destinations in other regions, in particular the United Kingdom (+10.5%). Concurrently, decreases were registered in the values of total exports to Germany (-5.1%) and the USA (-3.6%).

     Over the same period of comparison, increases were registered in the values of imports from most major suppliers, in particular Malaysia (+29.9%), India (+15.6%), the USA (+15.3%), Switzerland (+7.6%) and the Mainland (+6.4%). Concurrently, decreases were registered in the values of imports from some major suppliers, in particular Korea (-8.3%) and Japan (-3.8%).

      For the first 10 months of 2013 as a whole, year-on-year increases were registered in the values of total exports to some major destinations, in particular Vietnam (+14.1%), Korea (+7.6%) and the Mainland (+5.6%). However, year-on-year decreases were registered in the values of total exports to Japan (-5.6%), Germany (-4.2%) and the United Kingdom (-2.7%).

     Over the same period of comparison, year-on-year increases were registered in the values of imports from most major suppliers, in particular India (+8.4%), the Mainland (+6.4%) and Taiwan (+5.8%). On the other hand, year-on-year decreases were registered in the values of imports from Japan (-9.4%) and Switzerland (-1.9%).

Analysis by major commodity

     Comparing October 2013 with October 2012, increases were registered in the values of total exports of some principal commodity divisions, in particular "electrical machinery, apparatus and appliances, and electrical parts thereof" (by $20.0 billion or 26.8%), "telecommunications and sound recording and reproducing apparatus and equipment" (by $7.5 billion or 12.8%) and "non-metallic mineral manufactures" (by $1.6 billion or 13.5%). However, decreases were registered in the values of total exports of "miscellaneous manufactured articles (mainly baby carriages, toys, games and sporting goods)" (by $3.2 billion or -11.9%) and "office machines and automatic data processing machines" (by $0.8 billion or -2.3%).

     Over the same period of comparison, increases were registered in the values of imports of some principal commodity divisions, in particular "electrical machinery, apparatus and appliances, and electrical parts thereof" (by $14.5 billion or 16.7%), "telecommunications and sound recording and reproducing apparatus and equipment" (by $3.4 billion or 5.8%) and "non-metallic mineral manufactures" (by $2.7 billion or 18.9%). However, decreases were registered in the values of imports of "office machines and automatic data processing machines" (by $2.8 billion or -8.0%) and "miscellaneous manufactured articles (mainly baby carriages, toys, games and sporting goods)" (by $2.8 billion or -9.8%).

     For the first 10 months of 2013 as a whole, year-on-year increases were registered in the values of total exports of some principal commodity divisions, in particular "electrical machinery, apparatus and appliances, and electrical parts thereof" (by $69.3 billion or 9.2%), "telecommunications and sound recording and reproducing apparatus and equipment" (by $55.8 billion or 10.9%) and "non-metallic mineral manufactures" (by $15.5 billion or 14.0%).

     Over the same period of comparison, year-on-year increases were registered in the values of imports of some principal commodity divisions, in particular "electrical machinery, apparatus and appliances, and electrical parts thereof" (by $83.5 billion or 10.1%), "telecommunications and sound recording and reproducing apparatus and equipment" (by $33.3 billion or 6.6%) and "non-metallic mineral manufactures" (by $17.0 billion or 11.8%).

Commentary

     A Government spokesman noted that merchandise exports attained a faster year-on-year growth in October, partly helped by a low base of comparison. Exports to major Asian markets and the EU recorded growth, offsetting a further decline in the US market.

     The spokesman commented further that looking ahead, the external environment will remain unsteady given the slow and uneven recovery of the advanced economies. The uncertainty arising from the US monetary policy and fiscal issues will also cloud the near term global economic outlook. As such, Hong Kong's export performance may still see fluctuations in the near term. The Government will monitor the developments closely.

Further information

     Table 1 at the annex presents the analysis of external merchandise trade statistics for October 2013. Table 2 presents the original monthly trade statistics from January 2010 to October 2013, and Table 3 gives the seasonally adjusted series for the same period.

     The values of total exports of goods to 10 main destinations for October 2013 are shown in Table 4, whereas the values of imports of goods from 10 main suppliers are given in Table 5.

     Table 6 and 7 show the values of total exports and imports of 10 principal commodity divisions for October 2013.

     All the merchandise trade statistics described here are measured at current prices and no account has been taken of changes in prices between the periods of comparison. A separate analysis of the volume and price movements of external merchandise trade for October 2013 will be released in mid-December 2013.

     The October 2013 issue of "Hong Kong External Merchandise Trade" contains detailed analysis on the performance of Hong Kong's external merchandise trade in October 2013. Detailed merchandise trade statistics analysed by commodity and by country/territory are published in the October 2013 issue of "Hong Kong Merchandise Trade Statistics". The two publications will be available in mid-December 2013. Users can download them free of charge at the website of the C&SD (www.censtatd.gov.hk/hkstat/sub/sp230.jsp).

     Enquiries on merchandise trade statistics may be directed to Trade Analysis Section (2) of the C&SD (Tel.: 2582 5042).

Ends/Tuesday, November 26, 2013
Issued at HKT 16:30

NNNN

Print this page