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Volume and price statistics of external merchandise trade in June 2016
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     Further to the external merchandise trade statistics in value terms for June 2016 released earlier on, the Census and Statistics Department (C&SD) released today (August 11) the volume and price statistics of external merchandise trade for that month.

     In June 2016, the volume of Hong Kong's re-exports of goods increased by 1.4% over June 2015, whereas that of domestic exports decreased by 11.8%. Taken together, the volume of total exports of goods increased by 1.2%. Concurrently, the volume of imports of goods increased by 2.7%.

     Comparing the first half of 2016 with the same period in 2015, the volume of Hong Kong's re-exports of goods decreased by 1.1%, while that of domestic exports decreased by 13.4%. Taken together, the volume of total exports of goods decreased by 1.3%. Concurrently, the volume of imports of goods decreased by 2.9%.

     Comparing the second quarter of 2016 with the preceding quarter on a seasonally adjusted basis, the volume of total exports of goods increased by 6.8%. Within this total, the volume of re-exports increased by 7.0%, whereas that of domestic exports decreased by 4.2%. Concurrently, the volume of imports of goods increased by 4.8%.

     Changes in volume of external merchandise trade are derived from changes in external merchandise trade value with the effect of price changes discounted.
      
     Comparing June 2016 with June 2015, the prices of re-exports of goods decreased by 2.0%, while those of domestic exports decreased by 1.6%. Taken together, the prices of total exports of goods decreased by 2.0%. Concurrently, the prices of imports of goods decreased by 3.1%.

     As regards price changes in the first half of 2016 over the same period in 2015, the prices of re-exports of goods decreased by 2.4%, while those of domestic exports decreased by 2.7%. Taken together, the prices of total exports of goods decreased by 2.4%. Concurrently, the prices of imports of goods decreased by 2.7%.

     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 increased by 1.2% and 0.3% in June 2016 and in the first half of 2016 respectively.

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

     Comparing June 2016 with June 2015, a double-digit growth of 12.3% was recorded for the total export volume to India. Concurrently, the total export volume to the mainland of China (the Mainland) increased by 4.4%. On the other hand, the total export volume to Germany, the USA and Japan decreased by 0.9%, 2.8% and 7.0% respectively.

     Over the same period of comparison, the total export prices to the USA, India, the Mainland and Japan decreased by 3.4%, 2.4%, 2.1% and 1.1% respectively. On the other hand, the total export prices to Germany increased by 1.3%.

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

     Comparing June 2016 with June 2015, the import volume from Korea increased significantly, by 21.2%. Concurrently, the import volume from Singapore, Japan, the Mainland and Taiwan increased by 11.6%, 7.1%, 4.4% and 4.2% respectively.

     Over the same period of comparison, the import prices from Japan, the Mainland, Taiwan and Korea decreased by 4.0%, 3.8%, 2.3% and 2.2% respectively. On the other hand, the import prices from Singapore increased by 2.1%.

Further information

     Details of the above statistics are published in the June 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/Thursday, August 11, 2016
Issued at HKT 16:30
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