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Further to the external merchandise trade statistics in value terms for November 2011 released earlier on, the Census and Statistics Department (C&SD) released today (January 17) the volume and price statistics of external merchandise trade for that month.
In November 2011, the volume of Hong Kong's re-exports of goods decreased by 2.8% over November 2010, while that of domestic exports dropped sharply, by 37.6%. Taken together, the volume of total exports of goods decreased by 3.6%. On the other hand, the volume of imports of goods increased by 2.9%.
Comparing the first eleven months of 2011 with the same period in 2010, the volume of Hong Kong's re-exports of goods increased by 3.4%, whereas that of domestic exports fell significantly, by 20.6%. Taken together, the volume of total exports of goods increased by 2.9%. Concurrently, the volume of imports of goods increased by 5.3%.
Comparing the three-month period ending November 2011 with the preceding three months on a seasonally adjusted basis, the volume of total exports of goods decreased by 5.8%. Within this total, the volume of re-exports decreased by 5.7%, while that of domestic exports decreased by 14.7%. Concurrently, the volume of imports of goods decreased by 5.9%.
Changes in volume of external merchandise trade are derived from changes in external merchandise trade value with the effect of price changes discounted.
Comparing November 2011 with November 2010, the prices of re-exports of goods increased by 7.7%, while that of domestic exports increased by 6.0%. Taken together, the prices of total exports of goods increased by 7.6%. Concurrently, the prices of imports of goods increased by 7.0%.
As regards price changes in the first eleven months of 2011 over the same period in 2010, the prices of re-exports of goods increased by 8.1%, while those of domestic exports increased by 6.6%. Taken together, the prices of total exports of goods increased by 8.1%. Concurrently, the prices of imports of goods increased by 8.2%.
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 2010, the index increased by 0.6% in November 2011, whereas it decreased slightly, by 0.1% in the first eleven months of 2011.
Changes in the unit value and volume of total exports of goods by main destination are shown in Table 1.
Comparing November 2011 with November 2010, a double-digit decrease was recorded for the total export volume to the USA (-18.3%). Concurrently, the total export volume to Japan, Germany and the Mainland of China (the Mainland) decreased by 7.5%, 7.1% and 0.3% respectively. On the other hand, the total export volume to Taiwan increased by 16.1%.
Over the same period of comparison, the total export prices to all main destinations increased: the USA (+10.6%), Germany (+9.0%), Japan (+8.3%), Taiwan (+8.1%) and the Mainland (+6.5%).
Changes in the unit value and volume of imports of goods by main supplier are shown in Table 2.
In November 2011, the import volume from the USA rose sharply, by 36.8% over November 2010. Double-digit increases were also recorded for the import volume from Singapore (+18.0%) and Taiwan (+13.5%) over the same period of comparison. On the other hand, the import volume from the Mainland and Japan decreased by 2.2% and 8.2% respectively.
Comparing November 2011 with November 2010, the import prices from all main suppliers increased: Japan (+8.1%), Singapore (+7.7%), the USA (+7.1%), the Mainland (+6.5%) and Taiwan (+5.2%).
Further information
Details of the above statistics are published in the November 2011 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/products_and_services/products/publications/statistical_report/external_trade/index.jsp).
Enquiries on merchandise trade indices may be directed to Trade Analysis Section (1) of the C&SD (Tel.: 2582 4918).
Ends/Tuesday, January 17, 2012
Issued at HKT 16:30
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