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Further to the external merchandise trade statistics in value terms for May 2014 released earlier on, the Census and Statistics Department (C&SD) released today (July 17) the volume and price statistics of external merchandise trade for that month.
In May 2014, the volume of Hong Kong's re-exports of goods increased by 4.0% over May 2013, while that of domestic exports increased by 14.2%. Taken together, the volume of total exports of goods increased by 4.1%. Concurrently, the volume of imports of goods increased by 3.0%.
Comparing the first five months of 2014 with the same period in 2013, the volume of Hong Kong's re-exports of goods increased slightly, by 0.2%, while that of domestic exports increased by 7.7%. Taken together, the volume of total exports of goods increased by 0.3%. Concurrently, the volume of imports of goods increased by 1.6%.
Comparing the three-month period ending May 2014 with the preceding three months on a seasonally adjusted basis, the volume of total exports of goods increased by 2.1%. Within this total, the volume of re-exports increased by 2.0%, while that of domestic exports increased by 8.8%. Concurrently, the volume of imports of goods increased by 0.7%.
Changes in volume of external merchandise trade are derived from changes in external merchandise trade value with the effect of price changes discounted.
Comparing May 2014 with May 2013, the prices of re-exports of goods increased by 2.0%, whereas those of domestic exports decreased slightly, by 0.2%. Taken together, the prices of total exports of goods increased by 2.0%. Concurrently, the prices of imports of goods increased by 1.9%.
As regards price changes in the first five months of 2014 over the same period in 2013, the prices of re-exports of goods increased by 1.8%, whereas those of domestic exports decreased by 0.9%. Taken together, the prices of total exports of goods increased by 1.7%. Concurrently, the prices of imports of goods increased by 2.0%.
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 2013, the index increased marginally, by 0.1% in May 2014, whereas it decreased by 0.3% in the first five months of 2014.
Changes in the unit value and volume of total exports of goods by main destination are shown in Table 1.
Comparing May 2014 with May 2013, the total export volume to Japan, Taiwan, the USA and the mainland of China (the Mainland) increased by 7.8%, 7.0%, 6.9% and 2.2% respectively. On the other hand, the total export volume to India decreased marginally, by 0.1%.
Over the same period of comparison, the total export prices to Japan, the Mainland and Taiwan increased by 4.0%, 3.3% and 1.0% respectively. On the other hand, the total export prices to the USA and India decreased by 1.5% and 4.6% respectively.
Changes in the unit value and volume of imports of goods by main supplier are shown in Table 2.
Comparing May 2014 with May 2013, a double-digit growth of 14.0% was recorded for the import volume from Taiwan. Concurrently, the import volume from Singapore, Japan, the USA and the Mainland increased by 7.5%, 6.1%, 5.7% and 1.7% respectively.
Over the same period of comparison, the import prices from the Mainland, Singapore and Japan increased by 2.8%, 2.7% and 2.4% respectively. On the other hand, the import prices from the USA and Taiwan decreased by 1.9% and 2.3% respectively.
Further information
Details of the above statistics are published in the May 2014 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, July 17, 2014
Issued at HKT 16:31
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