Volume and price statistics of external merchandise trade in January 2019
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In January 2019, the volume of Hong Kong's total exports of goods decreased by 2.2% over January 2018. Concurrently, the volume of imports of goods decreased by 7.7%.
Comparing the three months ending January 2019 with the three months ending January 2018, the volume of Hong Kong's total exports of goods decreased by 4.2%. Concurrently, the volume of imports of goods decreased by 6.1%.
Comparing the three-month period ending January 2019 with the preceding three months on a seasonally adjusted basis, the volume of total exports of goods decreased by 6.1%. Concurrently, the volume of imports of goods decreased by 7.5%.
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 2019 with January 2018, the prices of total exports of goods increased by 2.0%. Concurrently, the prices of imports of goods increased by 2.0%.
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 2018, the index remained virtually unchanged in January 2019.
Changes in the unit value and volume of total exports of goods by main destination are shown in Table 1.
Comparing January 2019 with January 2018, double-digit decreases were recorded for the total export volume to India (-34.9%) and Taiwan (-16.8%). Concurrently, the total export volume to the USA, the mainland of China (the Mainland) and Japan decreased by 7.8%, 6.2% and 0.5% respectively.
Over the same period of comparison, the total export prices to Japan, the USA and the Mainland increased by 3.4%, 2.7% and 2.4% respectively. On the other hand, the total export prices to Taiwan and India decreased by 0.1% and 0.8% respectively.
Changes in the unit value and volume of imports of goods by main supplier are shown in Table 2.
Comparing January 2019 with January 2018, double-digit decreases were recorded for the import volume from Japan (-15.3%) and Taiwan (-12.7%). Concurrently, the import volume from the USA, the Mainland and Singapore decreased by 9.8%, 4.2% and 2.1% respectively.
Over the same period of comparison, the import prices from all main suppliers increased: the Mainland (+2.7%), Taiwan (+2.4%), Japan (+2.2%), Singapore (+1.8%) and the USA (+0.4%).
Further information
Details of the above statistics are published in the January 2019 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/Monday, March 18, 2019
Issued at HKT 16:30
Issued at HKT 16:30
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