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Further to the external merchandise trade statistics in value terms for July 2015 released earlier on, the Census and Statistics Department (C&SD) released today (September 17) the volume and price statistics of external merchandise trade for that month.
In July 2015, the volume of Hong Kong's re-exports of goods decreased by 1.7% over July 2014, while that of domestic exports decreased by 17.2%. Taken together, the volume of total exports of goods decreased by 1.9%. Concurrently, the volume of imports of goods decreased by 4.6%.
Comparing the first seven months of 2015 with the same period in 2014, the volume of Hong Kong's re-exports of goods decreased by 1.2%, while that of domestic exports decreased by 12.3%. Taken together, the volume of total exports of goods decreased by 1.3%. Concurrently, the volume of imports of goods decreased by 1.6%.
Comparing the three-month period ending July 2015 with the preceding three months on a seasonally adjusted basis, the volume of total exports of goods increased by 0.9%. Within this total, the volume of re-exports increased by 1.0%, whereas that of domestic exports decreased by 3.2%. On the other hand, the volume of imports of goods decreased by 0.6%.
Changes in volume of external merchandise trade are derived from changes in external merchandise trade value with the effect of price changes discounted.
Comparing July 2015 with July 2014, the prices of re-exports of goods increased by 0.3%, whereas those of domestic exports decreased by 3.7%. Taken together, the prices of total exports of goods increased slightly, by 0.2%. On the other hand, the prices of imports of goods decreased marginally, by 0.1%.
As regards price changes in the first seven months of 2015 over the same period in 2014, the prices of re-exports of goods increased by 1.5%, whereas those of domestic exports decreased by 2.4%. Taken together, the prices of total exports of goods increased by 1.4%. Concurrently, the prices of imports of goods increased by 0.6%.
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 2014, the index increased by 0.3% and 0.8% in July 2015 and in the first seven months of 2015 respectively.
Changes in the unit value and volume of total exports of goods by main destination are shown in Table 1.
Comparing July 2015 with July 2014, the total export volume to the mainland of China (the Mainland) and Japan decreased by 2.5% and 1.3% respectively. On the other hand, the total export volume to the USA increased by 1.3%, while the total export volume to Vietnam and India recorded significant increases of 19.2% and 31.2% respectively.
Over the same period of comparison, the total export prices to Vietnam and India increased by 3.6% and 1.3% respectively. On the other hand, the total export prices to the Mainland, the USA and Japan decreased by 0.1%, 0.8% and 2.2% respectively.
Changes in the unit value and volume of imports of goods by main supplier are shown in Table 2.
Comparing July 2015 with July 2014, a double-digit decrease of 10.6% was recorded for the import volume from Taiwan. Concurrently, the import volume from Japan, Singapore and the Mainland decreased by 7.6%, 7.2% and 2.0% respectively. On the other hand, the import volume from the USA increased by 2.1%.
Over the same period of comparison, the import prices from Japan and Taiwan decreased by 6.3% and 1.3% respectively. On the other hand, the import prices from the USA, the Mainland and Singapore increased by 0.3%, 0.9% and 4.8% respectively.
Further information
Details of the above statistics are published in the July 2015 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, September 17, 2015
Issued at HKT 16:35
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