Volume and price statistics of external merchandise trade in July 2016
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In July 2016, the volume of Hong Kong's re-exports of goods decreased by 2.6% over July 2015, while that of domestic exports decreased by 4.0%. Taken together, the volume of total exports of goods decreased by 2.6%. Concurrently, the volume of imports of goods decreased by 1.7%.
Comparing the first seven months of 2016 with the same period in 2015, the volume of Hong Kong's re-exports of goods decreased by 1.4%, while that of domestic exports decreased by 12.1%. Taken together, the volume of total exports of goods decreased by 1.5%. Concurrently, the volume of imports of goods decreased by 2.7%.
Comparing the three-month period ending July 2016 with the preceding three months on a seasonally adjusted basis, the volume of total exports of goods increased by 5.5%. Within this total, the volume of re-exports increased by 5.6%, whereas that of domestic exports decreased by 0.5%. Concurrently, the volume of imports of goods increased by 5.8%.
Changes in volume of external merchandise trade are derived from changes in external merchandise trade value with the effect of price changes discounted.
Comparing July 2016 with July 2015, the prices of re-exports of goods decreased by 2.2%, while those of domestic exports decreased by 1.4%. Taken together, the prices of total exports of goods decreased by 2.2%. Concurrently, the prices of imports of goods decreased by 1.3%.
As regards price changes in the first seven months 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 2.5%. Taken together, the prices of total exports of goods decreased by 2.4%. Concurrently, the prices of imports of goods decreased by 2.5%.
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 0.9% in July 2016, whereas it increased by 0.1% in the first seven months of 2016.
Changes in the unit value and volume of total exports of goods by main destination are shown in Table 1.
Comparing July 2016 with July 2015, the total export volume to India and the mainland of China (the Mainland) decreased by 4.6% and 4.3% respectively. On the other hand, the total export volume to the USA and Japan increased by 2.9% and 4.2% respectively, while the total export volume to Taiwan recorded a significant increase of 24.6%.
Over the same period of comparison, the total export prices to all main destinations decreased: India (-4.5%), Taiwan (-3.9%), the USA (-3.3%), Japan (-2.6%) and the Mainland (-1.9%).
Changes in the unit value and volume of imports of goods by main supplier are shown in Table 2.
Comparing July 2016 with July 2015, the import volume from Japan, the Mainland and the USA decreased by 4.4%, 3.4% and 0.5% respectively. On the other hand, the import volume from Singapore and Taiwan increased by 5.5% and 8.2% respectively.
Over the same period of comparison, the import prices from the Mainland, the USA and Japan decreased by 2.7%, 2.6% and 1.9% respectively. On the other hand, the import prices from Taiwan and Singapore increased by 2.2% and 4.8% respectively.
Further information
Details of the above statistics are published in the July 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, September 20, 2016
Issued at HKT 16:30
Issued at HKT 16:30
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