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Volume and price statistics of external merchandise trade in May 2016
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     Further to the external merchandise trade statistics in value terms for May 2016 released earlier on, the Census and Statistics Department (C&SD) released today (July 19) the volume and price statistics of external merchandise trade for that month.

     In May 2016, the volume of Hong Kong's re-exports of goods increased by 3.5% over May 2015, whereas that of domestic exports decreased by 15.7%. Taken together, the volume of total exports of goods increased by 3.2%. On the other hand, the volume of imports of goods decreased by 1.4%.

     Comparing the first five months of 2016 with the same period in 2015, the volume of Hong Kong's re-exports of goods decreased by 1.7%, while that of domestic exports decreased by 13.8%. Taken together, the volume of total exports of goods decreased by 1.9%. Concurrently, the volume of imports of goods decreased by 4.1%.

     Comparing the three-month period ending May 2016 with the preceding three months on a seasonally adjusted basis, the volume of total exports of goods increased by 3.1%. Within this total, the volume of re-exports increased by 3.2%, whereas that of domestic exports decreased by 7.8%. Concurrently, the volume of imports of goods increased by 1.6%.

     Changes in volume of external merchandise trade are derived from changes in external merchandise trade value with the effect of price changes discounted.

     Comparing May 2016 with May 2015, the prices of re-exports of goods decreased by 3.0%, while those of domestic exports decreased by 1.9%. Taken together, the prices of total exports of goods decreased by 3.0%. Concurrently, the prices of imports of goods decreased by 2.9%.

     As regards price changes in the first five months of 2016 over the same period in 2015, the prices of re-exports of goods decreased by 2.5%, while those of domestic exports decreased by 2.9%. Taken together, the prices of total exports of goods decreased by 2.5%. Concurrently, the prices of imports of goods decreased by 2.6%.

     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 2015, the index decreased by 0.1% in May 2016, whereas it increased by 0.1% in the first five months of 2016.

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

     Comparing May 2016 with May 2015, the total export volume to India and Taiwan increased significantly, by 44.6% and 28.5% respectively. Concurrently, the total export volume to the mainland of China (the Mainland) increased by 4.9%. On the other hand, the total export volume to the USA and Japan decreased by 3.1% and 7.3% respectively.

     Over the same period of comparison, the total export prices to all main destinations decreased: Taiwan (-4.8%), India (-4.7%), the Mainland (-3.6%), the USA (-2.6%) and Japan (-0.4%).

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

     Comparing May 2016 with May 2015, double-digit declines were recorded for the import volume from the USA (-13.1%), Singapore (-12.4%) and Japan (-10.6%). Concurrently, the import volume from the Mainland decreased marginally, by 0.1%. On the other hand, the import volume from the Taiwan increased by 1.2%.

     Over the same period of comparison, the import prices from Japan, the USA, the Mainland and Taiwan decreased by 4.2%, 3.6%, 3.5% and 0.6% respectively. On the other hand, the import prices from Singapore increased marginally, by 0.1%.

Further information

     Details of the above statistics are published in the May 2016 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, July 19, 2016
Issued at HKT 16:30
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