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Further to the external merchandise trade statistics in value terms for October 2006 released earlier on, the Census and Statistics Department (C&SD) today (December 21) released the volume and price statistics of external merchandise trade for that month.
In October 2006, the volume of Hong Kong's re-exports of goods increased by 10.6% over October 2005, while that of domestic exports decreased substantially, by 25.9%. Taken together, the volume of total exports of goods increased by 7.9%. Concurrently, the volume of imports of goods increased by 8.4%.
Comparing the first ten months of 2006 with the same period in 2005, the volume of Hong Kong's re-exports of goods rose by 9.4%, and that of domestic exports by 10.2%. Taken together, the volume of total exports of goods grew by 9.5%. Concurrently, the volume of imports of goods increased by 9.4%.
Comparing the three-month period ending October 2006 with the preceding three months on a seasonally adjusted basis, the volume of total exports of goods increased by 6.1%. Within this total, the volume of re-exports increased by 7.6%, while that of domestic exports decreased by 16.8%. Concurrently, the volume of imports of goods increased by 5.6%.
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 2006 with October 2005, the prices of re-exports of goods increased by 1.7%, while those of domestic exports decreased by 1.0%. Taken together, the prices of total exports of goods increased by 1.6%. Concurrently, the prices of imports of goods increased by 3.0%.
As regards price changes in the first ten months of 2006 over the same period in 2005, the prices of re-exports of goods increased by 0.9%, while those of domestic exports decreased by 2.4%. Taken together, the prices of total exports of goods increased by 0.7%. 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 periods in 2005, the index decreased by 1.4% in October 2006 and 1.3% in the first ten months of 2006.
Changes in the value, unit value and volume of re-exports of goods by end-use category are shown in Table 1.
In October 2006, the re-export volume of "raw materials and semi-manufactures" increased by 19.2% over October 2005. Significant increases in re-export volume were noted for "chemical elements and compounds" and "base metal other than iron and steel". On the other hand, decreases in re-export volume were recorded for "wool and animal hair, and yarn, thread and fabrics of wool and animal hair" and "iron and steel".
The re-export volume of "capital goods" increased by 9.3% in October 2006 over October 2005. Significant increases in re-export volume were noted for "construction machinery" and "transport equipment". On the other hand, decrease in re-export volume was recorded for "office machinery".
In October 2006, the volume of re-exports of "consumer goods" increased by 3.4% over October 2005. Substantial increases in re-export volume were recorded for "clothing" and "alcoholic beverages". On the other hand, significant decreases in re-export volume were recorded for "passenger motor cars" and "cameras, flashlight apparatus and supplies for photography".
Over the same periods of comparison, the re-export volume of "foodstuffs" and "fuels" decreased by 3.1% and 13.3% respectively.
Comparing October 2006 with October 2005, the re-export prices of all end-use categories increased: "fuels" (+3.0%), "consumer goods" (+2.1%), "raw materials and semi-manufactures" (+2.0%), "foodstuffs" (+1.9%) and "capital goods" (+1.1%).
Changes in the value, unit value and volume of domestic exports of goods by selected principal commodity group are shown in Table 2.
Comparing October 2006 with October 2005, the volume of domestic exports of "clothing" and "electronic components" decreased significantly, by 47.2% and 45.3% respectively. On the other hand, the volume of domestic exports of "metal manufactures" and "office machines and equipment" increased markedly, by 84.0% and 54.8% respectively.
Over the same periods of comparison, decreases were recorded in the prices of domestic exports of some principal commodity groups, in particular those of "electronic components" and "office machines and equipment".
Changes in the value, unit value and volume of imports of goods by end-use category are shown in Table 3.
Comparing October 2006 with October 2005, the import volume of "capital goods" increased by 10.7%. Within this total, substantial increases were recorded in the import volume of "construction machinery" and "transport equipment". On the other hand, decrease in import volume was noted for "office machinery".
The import volume of "raw materials and semi-manufactures" increased by 9.0% in October 2006 over October 2005. Increases in import volume were noted for "base metal other than iron and steel" and "iron and steel". On the other hand, decreases in import volume were recorded for "lime, cement, and fabricated building materials except glass, clay construction materials and refractory construction materials" and "wool and animal hair, and yarn, thread and fabrics of wool and animal hair".
The import volume of "consumer goods" increased by 4.3% in October 2006 over October 2005. Significant increases in import volume were recorded for "toys, games and sporting goods" and "tobacco manufactures". On the other hand, decreases in import volume were noted for "cameras, flashlight apparatus and supplies for photography" and "watches and clocks".
Over the same periods of comparison, the import volume of "fuels" increased significantly, by 45.8%, while that of "foodstuffs" decreased marginally, by 0.2%.
Comparing October 2006 with October 2005, the import prices of "raw materials and semi-manufactures", "capital goods", "foodstuffs" and "consumer goods" increased by 4.8%, 3.1%, 2.2% and 1.2% respectively. On the other hand, the import price of "fuels" decreased by 0.6%.
Further information
Details of the above statistics are published in the October 2006 issue of the "Hong Kong Merchandise Trade Index Numbers".
Users can download this publication free of charge at the "Statistical Bookstore, Hong Kong" (www.statisticalbookstore.gov.hk) of the C&SD.
Print version of this publication is available for sale at HK$22 per issue. Purchase can be done in person at the Publications Unit of the C&SD (Address: 19/F Wanchai Tower, 12 Harbour Road, Wan Chai; Tel: 2582 3025) or through mail order by returning a completed order form which can be downloaded from the C&SD's website (www.censtatd.gov.hk/products_and_services/other_services/ provision_of_stat/mail_ordering_of_publications/index.jsp). Print version of this publication is also available for sale online at the Statistical Bookstore and the Government Bookstore of the Information Services Department (www.isd.gov.hk/eng/bookorder.htm). Print versions if purchased online are offered a discount, at 85% of their original prices.
Moreover, enquiries on trade indices may be directed to the C&SD (Tel: 2582 4918).
Ends/Thursday, December 21, 2006
Issued at HKT 16:15
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