Volume and price statistics of external merchandise trade in November 2016
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In November 2016, the volume of Hong Kong's re-exports of goods increased by 8.8% over November 2015, while that of domestic exports increased by 3.4%. Taken together, the volume of total exports of goods increased by 8.7%. Concurrently, the volume of imports of goods increased by 8.6%.
Comparing the first eleven months of 2016 with the same period in 2015, the volume of Hong Kong's re-exports of goods increased by 0.7%, whereas that of domestic exports decreased by 7.1%. Taken together, the volume of total exports of goods increased by 0.6%. Concurrently, the volume of imports of goods slightly increased by 0.2%.
Comparing the three-month period ending November 2016 with the preceding three months on a seasonally adjusted basis, the volume of total exports of goods increased by 5.0%. Within this total, the volume of re-exports increased by 5.0%, while that of domestic exports increased by 4.8%. Concurrently, the volume of imports of goods increased by 3.6%.
Changes in volume of external merchandise trade are derived from changes in external merchandise trade value with the effect of price changes discounted.
Comparing November 2016 with November 2015, the prices of re-exports of goods decreased by 0.5%, whereas those of domestic exports increased by 0.7%. Taken together, the prices of total exports of goods decreased by 0.5%. Concurrently, the prices of imports of goods decreased by 0.4%.
As regards price changes in the first eleven months of 2016 over the same period in 2015, the prices of re-exports of goods decreased by 1.9%, while those of domestic exports decreased by 1.7%. Taken together, the prices of total exports of goods decreased by 1.9%. Concurrently, the prices of imports of goods decreased by 1.9%.
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 2015, the index decreased by 0.1% in November 2016, whereas it remained virtually unchanged in the first eleven months of 2016.
Changes in the unit value and volume of total exports of goods by main destination are shown in Table 1.
Comparing November 2016 with November 2015, the total export volume to Taiwan and India increased substantially, by 48.6% and 39.8% respectively. Concurrently, the total export volume to the mainland of China (the Mainland) and Japan increased by 12.0% and 3.4% respectively. On the other hand, the total export volume to the USA decreased by 4.5%.
Over the same period of comparison, the total export prices to Japan, the USA, the Mainland and Taiwan decreased by 3.0%, 2.8%, 0.2% and 0.2% respectively. On the other hand, the total export prices to India increased by 2.3%.
Changes in the unit value and volume of imports of goods by main supplier are shown in Table 2.
Comparing November 2016 with November 2015, double-digit increases were recorded for the import volume from Singapore (+23.7%), Taiwan (+21.6%), the USA (+14.7%) and Japan (+13.2%). Concurrently, the import volume from the Mainland increased by 4.2%.
Over the same period of comparison, the import prices from the Mainland and the USA decreased by 1.3% and 0.6% respectively. On the other hand, the import prices from Japan, Taiwan and Singapore increased by 0.1%, 1.0% and 3.4% respectively.
Further information
Details of the above statistics are published in the November 2016 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/hkstat/sub/sp230.jsp?productCode=B1020006).
Enquiries on merchandise trade indices may be directed to Trade Analysis Section (1) of the C&SD (Tel: 2582 4918).
Ends/Tuesday, January 17, 2017
Issued at HKT 16:30
Issued at HKT 16:30
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