Volume and price statistics of external merchandise trade in January 2018
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In January 2018, the volume of Hong Kong's total exports of goods increased by 15.7% over January 2017. Concurrently, the volume of imports of goods increased by 21.3%.
Comparing the three months ending January 2018 with the three months ending January 2017, the volume of Hong Kong's total exports of goods increased by 8.1%. Concurrently, the volume of imports of goods increased by 10.8%.
Comparing the three-month period ending January 2018 with the preceding three months on a seasonally adjusted basis, the volume of total exports of goods increased by 3.4%. Concurrently, the volume of imports of goods increased by 2.9%.
Changes in volume of external merchandise trade are derived from changes in external merchandise trade value with the effect of price changes discounted.
Comparing January 2018 with January 2017, the prices of total exports of goods increased by 2.1%. Concurrently, the prices of imports of goods increased by 2.3%.
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 period in 2017, the index decreased by 0.3% in January 2018.
Changes in the unit value and volume of total exports of goods by main destination are shown in Table 1.
Comparing January 2018 with January 2017, the total export volume to India, Taiwan and the mainland of China (the Mainland) increased significantly, by 37.5%, 34.1% and 26.0% respectively. Concurrently, the total export volume to Japan increased by 6.5%. On the other hand, the total export volume to the USA decreased by 0.8%.
Over the same period of comparison, the total export prices to all main destinations increased: Taiwan (+3.5%), India (+2.5%), the Mainland (+2.5%), the USA (+2.0%) and Japan (+1.4%).
Changes in the unit value and volume of imports of goods by main supplier are shown in Table 2.
Comparing January 2018 with January 2017, double-digit increases were recorded for the import volume from Korea (+22.8%), the Mainland (+18.9%), Japan (+15.7%) and Taiwan (+15.5%). Concurrently, the import volume from Singapore increased by 9.5%.
Over the same period of comparison, the import prices from all main suppliers increased: Korea (+4.9%), Japan (+1.7%), the Mainland (+1.6%), Taiwan (+1.5%) and Singapore (+1.4%).
Further information
Details of the above statistics are published in the January 2018 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 the Trade Analysis Section (1) of the C&SD (Tel: 2582 4918).
Ends/Tuesday, March 20, 2018
Issued at HKT 16:30
Issued at HKT 16:30
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