Volume and price statistics of external merchandise trade in January 2022
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In January 2022, the volume of Hong Kong's total exports of goods increased by 7.8%, while the volume of imports of goods decreased by 0.2% over January 2021.
Comparing the three months ending January 2022 with the three months ending January 2021, the volume of Hong Kong's total exports of goods and imports of goods increased by 12.2% and 6.5% respectively.
Comparing the three-month period ending January 2022 with the preceding three months on a seasonally adjusted basis, the volume of total exports of goods and imports of goods increased by 6.4% and 4.7% respectively.
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 2022 with January 2021, the prices of total exports of goods and imports of goods increased by 10.5% and 9.7% respectively.
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 2021, the index increased by 0.8% in January 2022.
Changes in the unit value and volume of total exports of goods by main destination are shown in Table 1.
Comparing January 2022 with January 2021, double-digit increases were recorded for the total export volume to India (83.3%), the USA (38.8%), Vietnam (36.4%) and Taiwan (34.6%). On the other hand, the total export volume to the mainland of China (the Mainland) decreased by 3.2%.
Over the same period of comparison, the total export prices to all main destinations increased: the Mainland (14.4%), Taiwan (13.7%), India (6.9%), Vietnam (5.4%) and the USA (3.8%).
Changes in the unit value and volume of imports of goods by main supplier are shown in Table 2.
Comparing January 2022 with January 2021, the import volume from Japan (-6.5%), Singapore (-5.5%) and Taiwan (-2.3%) decreased. On the other hand, the import volume from Korea (1.4%) and the Mainland (3.7%) increased.
Over the same period of comparison, the import prices from all main suppliers increased: Taiwan (19.1%), Korea (13.5%), Singapore (12.6%), the Mainland (11.1%) and Japan (1.7%).
Further information
Details of the above statistics are published in the January 2022 issue of "Hong Kong Merchandise Trade Index Numbers". Users can download the publication at the website of the C&SD (www.censtatd.gov.hk/en/EIndexbySubject.html?pcode=B1020006&scode=230).
Enquiries on merchandise trade indices may be directed to the Trade Analysis Section (1) of the C&SD (Tel: 2582 4918).
Ends/Thursday, March 17, 2022
Issued at HKT 16:30
Issued at HKT 16:30
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