Volume and price statistics of external merchandise trade in October 2022
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In October 2022, the volume of Hong Kong's total exports of goods and imports of goods decreased by 15.6% and 17.0% respectively over October 2021.
Comparing the first ten months of 2022 with the same period in 2021, the volume of Hong Kong's total exports of goods and imports of goods decreased by 11.5% and 11.3% respectively.
Comparing the three-month period ending October 2022 with the preceding three months on a seasonally adjusted basis, the volume of total exports of goods and imports of goods decreased by 5.7% and 8.9% 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 October 2022 with October 2021, the prices of total exports of goods and imports of goods increased by 6.6% and 6.9% respectively.
As regards price changes in the first ten months of 2022 over the same period in 2021, the prices of total exports of goods and imports of goods increased by 8.6% and 8.8% 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 periods in 2021, the index decreased by 0.3% in October 2022 and 0.2% in the first ten months of 2022.
Changes in the unit value and volume of total exports of goods by main destination are shown in Table 1.
Comparing October 2022 with October 2021, declines were recorded for the total export volume to all main destinations: the USA (-25.3%), the mainland of China (the Mainland) (-19.4%), Vietnam (-10.3%), India (-10.2%) and Taiwan (-8.2%).
Over the same period of comparison, the total export prices to all main destinations increased: the USA (8.6%), the Mainland (7.7%), Taiwan (5.3%), India (2.7%) and Vietnam (1.6%).
Changes in the unit value and volume of imports of goods by main supplier are shown in Table 2.
Comparing October 2022 with October 2021, declines were recorded for the import volume from all main suppliers: the Mainland (-26.3%), Singapore (-18.1%), Taiwan (-17.2%), Japan (-13.3%) and Korea (-8.1%).
Over the same period of comparison, the import prices from the Mainland (11.0%), Taiwan (4.6%), Japan (2.6%) and Korea (0.2%) increased. On the other hand, the import prices from Singapore decreased by 0.2%.
Further information
Details of the above statistics are published in the October 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/Monday, December 19, 2022
Issued at HKT 16:30
Issued at HKT 16:30
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