Volume and price statistics of external merchandise trade in July 2018
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In July 2018, the volume of Hong Kong's total exports of goods increased by 7.5% over July 2017. Concurrently, the volume of imports of goods increased by 11.5%.
Comparing the first seven months of 2018 with the same period in 2017, the volume of Hong Kong's total exports of goods increased by 6.8%. Concurrently, the volume of imports of goods increased by 8.4%.
Comparing the three-month period ending July 2018 with the preceding three months on a seasonally adjusted basis, the volume of total exports of goods increased by 0.6%. Concurrently, the volume of imports of goods increased by 0.1%.
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 2018 with July 2017, the prices of total exports of goods increased by 2.4%. Concurrently, the prices of imports of goods increased by 2.6%.
As regards price changes in the first seven months of 2018 over the same period in 2017, the prices of total exports of goods increased by 2.5%. Concurrently, the prices of imports of goods increased 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 2017, the index decreased by 0.2% and 0.1% in July 2018 and in the first seven months of 2018 respectively.
Changes in the unit value and volume of total exports of goods by main destination are shown in Table 1.
Comparing July 2018 with July 2017, double-digit increases were recorded for the total export volume to Vietnam (+25.9%) and India (+14.2%). Concurrently, the total export volume to the mainland of China (the Mainland) and the USA increased by 9.3% and 6.5% respectively. On the other hand, the total export volume to Japan decreased by 9.4%.
Over the same period of comparison, the total export prices to the USA, the Mainland and Japan increased by 3.7%, 3.3% and 2.4% respectively. On the other hand, the total export prices to Vietnam and India decreased by 2.1% and 4.1% respectively.
Changes in the unit value and volume of imports of goods by main supplier are shown in Table 2.
Comparing July 2018 with July 2017, a double-digit growth of 18.4% was recorded for the import volume from Korea. Concurrently, the import volume from Taiwan, Japan, the Mainland and Singapore increased by 9.6%, 8.0%, 7.1% and 1.0% respectively.
Over the same period of comparison, the import prices from Korea, the Mainland, Japan and Singapore increased by 7.8%, 2.8%, 2.8% and 2.4% respectively. On the other hand, the import prices from Taiwan decreased by 0.4%.
Further information
Details of the above statistics are published in the July 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/Thursday, September 20, 2018
Issued at HKT 16:30
Issued at HKT 16:30
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