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Volume and price statistics of external merchandise trade in November 2014
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     Further to the external merchandise trade statistics in value terms for November 2014 released earlier on, the Census and Statistics Department (C&SD) released today (January 20) the volume and price statistics of external merchandise trade for that month.

     In November 2014, the volume of Hong Kong's re-exports of goods decreased by 1.1% over November 2013, whereas that of domestic exports increased by 4.3%. Taken together, the volume of total exports of goods decreased by 1.0%. On the other hand, the volume of imports of goods increased by 1.3%.

     Comparing the first eleven months of 2014 with the same period in 2013, the volume of Hong Kong's re-exports of goods increased by 2.3%, while that of domestic exports increased by 6.4%. Taken together, the volume of total exports of goods increased by 2.4%. Concurrently, the volume of imports of goods increased by 3.0%.

     Comparing the three-month period ending November 2014 with the preceding three months on a seasonally adjusted basis, the volume of total exports of goods decreased by 1.8%. Within this total, the volume of re-exports decreased by 1.6%, while that of domestic exports decreased by 11.9%. On the other hand, the volume of imports of goods increased by 2.5%.

     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 2014 with November 2013, the prices of re-exports of goods increased by 2.2%, whereas those of domestic exports decreased by 0.5%. Taken together, the prices of total exports of goods increased by 2.2%. Concurrently, the prices of imports of goods increased by 1.0%.

     As regards price changes in the first eleven months of 2014 over the same period in 2013, the prices of re-exports of goods increased by 2.0%, whereas those of domestic exports decreased marginally, by 0.1%. Taken together, the prices of total exports of goods increased by 2.0%. 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 by 1.1% in November 2014, whereas it remained virtually unchanged in the first eleven months of 2014.

     Changes in the unit value and volume of total exports of goods by main destination are shown in Table 1.

     Comparing November 2014 with November 2013, a double-digit decrease of 17.2% was recorded for the total export volume to Japan. Concurrently, the total export volume to the mainland of China (the Mainland) decreased by 5.0%. On the other hand, the total export volume to the USA, Taiwan and India increased by 6.0%, 9.2% and 25.3% respectively.

     Over the same period of comparison, the total export prices to all main destinations increased: the USA (+4.3%), the Mainland (+1.9%), Japan (+1.6%), Taiwan (+0.5%) and India (+0.3%).

     Changes in the unit value and volume of imports of goods by main supplier are shown in Table 2.

     Comparing November 2014 with November 2013, the import volume from Taiwan, the USA and Singapore increased by 6.0%, 0.5% and 0.2% respectively. On the other hand, the import volume from the Mainland and Japan decreased by 2.1% and 2.4% respectively.

     Over the same period of comparison, the import prices from the Mainland, Taiwan and the USA increased by 2.4%, 1.1% and 0.4% respectively. On the other hand, the import prices from Singapore and Japan decreased by 0.8% and 3.7% respectively.

Further information

     Details of the above statistics are published in the November 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/Tuesday, January 20, 2015
Issued at HKT 16:30

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