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Further to the external merchandise trade statistics in value terms for June 2015 released earlier on, the Census and Statistics Department (C&SD) released today (August 13) the volume and price statistics of external merchandise trade for that month.
In June 2015, the volume of Hong Kong's re-exports of goods decreased by 3.5% over June 2014, while that of domestic exports decreased by 10.4%. Taken together, the volume of total exports of goods decreased by 3.7%. Concurrently, the volume of imports of goods decreased by 2.2%.
Comparing the first half of 2015 with the same period in 2014, the volume of Hong Kong's re-exports of goods decreased by 1.1%, while that of domestic exports decreased by 11.4%. Taken together, the volume of total exports of goods decreased by 1.2%. Concurrently, the volume of imports of goods decreased by 1.1%.
Comparing the second quarter of 2015 with the preceding quarter on a seasonally adjusted basis, the volume of total exports of goods decreased by 1.3%. Within this total, the volume of re-exports decreased by 1.2%, while that of domestic exports decreased by 4.2%. Concurrently, the volume of imports of goods decreased by 2.5%.
Changes in volume of external merchandise trade are derived from changes in external merchandise trade value with the effect of price changes discounted.
Comparing June 2015 with June 2014, the prices of re-exports of goods increased by 0.9%, whereas those of domestic exports decreased by 3.7%. Taken together, the prices of total exports of goods increased by 0.8%. Concurrently, the prices of imports of goods increased by 0.6%.
As regards price changes in the first half of 2015 over the same period in 2014, the prices of re-exports of goods increased by 1.7%, whereas those of domestic exports decreased by 2.2%. Taken together, the prices of total exports of goods increased by 1.6%. Concurrently, the prices of imports of goods increased by 0.7%.
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 2014, the index increased by 0.2% and 0.9% in June 2015 and in the first half of 2015 respectively.
Changes in the unit value and volume of total exports of goods by main destination are shown in Table 1.
Comparing June 2015 with June 2014, the total export volume to India, the mainland of China (the Mainland), Japan and the USA decreased by 6.0%, 4.5%, 3.2% and 0.5% respectively. On the other hand, the total export volume to Germany increased by 0.4%.
Over the same period of comparison, the total export prices to the USA, India and the Mainland increased by 1.6%, 1.5% and 0.5% respectively. On the other hand, the total export prices to Germany and Japan decreased by 0.3% and 2.0% respectively.
Changes in the unit value and volume of imports of goods by main supplier are shown in Table 2.
Comparing June 2015 with June 2014, double-digit declines were recorded for the import volume from Singapore (-12.4%) and Taiwan (-11.8%). Concurrently, the import volume from Japan decreased by 2.2%. On the other hand, the import volume from the Mainland and the USA increased by 0.9% and 3.2% respectively.
Over the same period of comparison, the import prices from Singapore, the Mainland and the USA increased by 3.8%, 1.8% and 1.4% respectively. On the other hand, the import prices from Taiwan and Japan decreased by 0.3% and 5.7% respectively.
Further information
C&SD has announced the use of the chain linking approach in the compilation of trade index numbers on March 12, 2015. The above volume statistics are based on the new series of trade index numbers compiled using the new methodology. Details of the new compilation methodology have been published in a feature article in the March 2015 issue of "Hong Kong Monthly Digest of Statistics".
Details of the above statistics can be found in the June 2015 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).
Enquiries on merchandise trade indices may be directed to Trade Analysis Section (1) of the C&SD (Tel: 2582 4918).
Ends/Thursday, August 13, 2015
Issued at HKT 16:31
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