Further to the external merchandise trade statistics in value terms for October 2017 released earlier on, the Census and Statistics Department (C&SD) released today (December 19) the volume and price statistics of external merchandise trade for that month.

     In October 2017, the volume of Hong Kong's re-exports of goods increased by 4.4% over October 2016, while that of domestic exports increased by 1.7%. Taken together, the volume of total exports of goods increased by 4.4%. Concurrently, the volume of imports of goods increased by 5.6%.

     Comparing the first 10 months of 2017 with the same period in 2016, the volume of Hong Kong's re-exports of goods increased by 6.6%, whereas that of domestic exports decreased by 0.4%. Taken together, the volume of total exports of goods increased by 6.5%. Concurrently, the volume of imports of goods increased by 6.8%.

     Comparing the three-month period ending October 2017 with the preceding three months on a seasonally adjusted basis, the volume of total exports of goods increased by 0.7%. Within this total, the volume of re-exports increased by 0.7%, while that of domestic exports increased by 7.5%. Concurrently, the volume of imports of goods increased by 2.3%.

     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 2017 with October 2016, the prices of re-exports of goods increased by 2.2%, while those of domestic exports increased by 1.5%. Taken together, the prices of total exports of goods increased by 2.2%. Concurrently, the prices of imports of goods increased by 2.2%.

     As regards price changes in the first 10 months of 2017 over the same period in 2016, the prices of re-exports of goods increased by 1.7%, while those of domestic exports increased by 2.2%. Taken together, the prices of total exports of goods increased by 1.7%. Concurrently, the prices of imports of goods increased by 1.8%.

     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 2016, the index remained virtually unchanged in October 2017, whereas it decreased by 0.1% in the first 10 months of 2017.

     Changes in the unit value and volume of total exports of goods by main destination are shown in Table 1.

     Comparing October 2017 with October 2016, the total export volume to India increased substantially, by 38.0%. Concurrently, the total export volume to Japan, Taiwan and the mainland of China (the Mainland) increased by 11.4%, 5.4% and 3.2% respectively. On the other hand, the total export volume to the USA decreased by 2.1%.

     Over the same period of comparison, the total export prices to the Mainland, Taiwan, Japan and the USA increased by 3.4%, 3.2%, 2.6% and 1.7% respectively. On the other hand, the total export prices to India decreased by 0.9%.

     Changes in the unit value and volume of imports of goods by main supplier are shown in Table 2.

     Comparing October 2017 with October 2016, a double-digit growth of 14.4% was recorded for the import volume from Korea. Concurrently, the import volume from Taiwan and the Mainland increased by 8.9% and 4.5% respectively. On the other hand, the import volume from Singapore and Japan decreased by 0.1% and 2.9% respectively.

     Over the same period of comparison, the import prices from Korea, Taiwan, Singapore and the Mainland increased by 5.3%, 4.1%, 2.9% and 2.2% respectively. On the other hand, the import prices from Japan decreased by 0.4%.

Further information

     Details of the above statistics are published in the October 2017 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 the Trade Analysis Section (1) of the C&SD (Tel: 2582 4918).

Ends/Tuesday, December 19, 2017
Issued at HKT 16:30

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