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Further to the external merchandise trade statistics in value terms for March 2006 released earlier on, the Census and Statistics Department (C&SD) today (May 19) released the volume and price statistics of external merchandise trade for that month.
In March 2006, the volume of Hong Kong's re-exports of goods increased by 16.3% over March 2005, while that of domestic exports grew significantly, by 36.1%. Taken together, the volume of total exports of goods increased by 17.3%. Concurrently, the volume of imports of goods increased by 16.3%.
Comparing the first quarter of 2006 with the same period in 2005, the volume of Hong Kong's re-exports of goods rose by 13.2%, while that of domestic exports grew sharply, by 42.3%. Taken together, the volume of total exports of goods grew by 14.6%. Concurrently, the volume of imports of goods increased by 13.9%.
Comparing the first quarter of 2006 with the fourth quarter of 2005 on a seasonally adjusted basis, the volume of total exports of goods increased by 2.5%. Within this total, the volume of re-exports increased by 2.9%, while that of domestic exports decreased by 2.7%. Concurrently, the volume of imports of goods increased by 3.8%.
Changes in volume of external merchandise trade are derived from changes in external merchandise trade value with the effect of price changes discounted.
Comparing March 2006 with March 2005, the prices of re-exports of goods increased marginally, by 0.1%, while those of domestic exports decreased by 3.8%. Taken together, the prices of total exports of goods decreased marginally, by 0.1%. Concurrently, the prices of imports of goods increased by 0.9%.
As regards price changes in the first quarter of 2006 over the same period in 2005, the prices of re-exports of goods decreased by 0.2%, and those of domestic exports by 2.9%. Taken together, the prices of total exports of goods decreased by 0.3%. Concurrently, the prices of imports of goods increased by 1.0%.
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 1.0% in March 2006 and 1.3% in the first quarter 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 March 2006, the re-export volume of "raw materials and semi-manufactures" increased significantly, by 29.6% over March 2005. Significant increases in re-export volume were noted for "electronic components" and "base metal other than iron and steel". On the other hand, substantial decreases in re-export volume were recorded for "chemical elements and compounds" and "iron and steel".
The re-export volume of "capital goods" increased by 12.0% in March 2006 over March 2005. Marked increases in re-export volume were noted for "construction machinery" and "telecommunications equipment". On the other hand, decrease in re-export volume was recorded for "transport equipment".
In March 2006, the volume of re-exports of "consumer goods" increased by 6.2% over March 2005. Substantial increases in re-export volume were recorded for "jewellery, precious stones and related articles" and "miscellaneous made-up articles of textile materials". On the other hand, substantial decreases in re-export volume were recorded for "household-type electrical appliances" and "cameras, flashlight apparatus and supplies for photography".
Over the same periods of comparison, the re-export volume of "foodstuffs" increased by 12.6%, while that of "fuels" decreased by 12.7% respectively.
Comparing March 2006 with March 2005, the re-export prices of "fuels" and "consumer goods" increased by 46.0% and 1.5% respectively. On the other hand, the re-export prices of "capital goods", "raw materials and semi-manufactures" and "foodstuffs" decreased by 1.2%, 0.3% and 0.1% respectively.
Changes in the value, unit value and volume of domestic exports of goods by selected principal commodity group are shown in Table 2.
Comparing March 2006 with March 2005, the volume of domestic exports of "office machines and equipment" and "clothing" increased sharply, by 104.0% and 101.2% respectively. On the other hand, the volume of domestic exports of "electronic components" decreased by 19.7%.
Over the same periods of comparison, decreases were recorded in the prices of domestic exports of most principal commodity groups, in particular those of "electronic components" and "clothing".
Changes in the value, unit value and volume of imports of goods by end-use category are shown in Table 3.
Comparing March 2006 with March 2005, the import volume of "capital goods" increased substantially, by 20.3%. Within this total, marked increases were recorded in the import volume of "construction machinery" and "telecommunications equipment". On the other hand, decrease in import volume was recorded for "transport equipment".
The import volume of "raw materials and semi-manufactures" increased by 19.1% in March 2006 over March 2005. Significant increases in import volume were noted for "base metal other than iron and steel" and "electronic components". On the other hand, significant decreases in import volume were recorded for "chemical elements and compounds" and "iron and steel".
The import volume of "consumer goods" increased by 9.7% in March 2006 over March 2005. Substantial increases in import volume were recorded for "toys, games and sporting goods" and "radios, television-sets, gramophones, records, tape recorders and amplifiers". On the other hand, decreases in import volume were noted for "cameras, flashlight apparatus and supplies for photography" and "household-type electrical appliances".
Over the same periods of comparison, the import volume of "foodstuffs" and "fuels" increased by 8.6% and 4.3% respectively.
Comparing March 2006 with March 2005, the import prices of "fuels", "raw materials and semi-manufactures" and "consumer goods" increased by 25.2%, 1.7% and 0.1% respectively. On the other hand, the import prices of "capital goods" and "foodstuffs" decreased by 1.5% and 0.1% respectively.
Further information
Details of the above statistics are published in the March 2006 issue of the "Hong Kong Merchandise Trade Index Numbers".
This publication is now on sale at HK$22 per issue. Both print version and download version (PDF format) of the publication can be purchased online at the "Statistical Bookstore, Hong Kong" (http://www.statisticalbookstore.gov.hk). Download version of the publication can be purchased at 75% of its original price exclusively at the online Statistical Bookstore. Print version if purchased online is also offered a discount, at 85% of its original price at the Statistical Bookstore as well as the Government Bookstore (http://www.isd.gov.hk/eng/bookorder.htm). For purchase of print version, this can be done through mail order by returning a completed order form which can be downloaded from the C&SD's website (http://www.censtatd.gov.hk/eng/prod_serv/forms_index.html). Purchase can also be made in person at the Publications Unit of the C&SD (Address: 19/F Wanchai Tower, 12 Harbour Road, Wan Chai; Tel. : 2582 3025).
Moreover, enquiries on trade indices may be directed to the C&SD (Tel. : 2582 4918).
Ends/Friday, May 19, 2006
Issued at HKT 16:16
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