Volume and price statistics of external merchandise trade in November 2019
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In November 2019, the volume of Hong Kong's total exports of goods decreased by 1.3% over November 2018. Concurrently, the volume of imports of goods decreased by 5.9%.
Comparing the first eleven months of 2019 with the same period in 2018, the volume of Hong Kong's total exports of goods decreased by 5.8%. Concurrently, the volume of imports of goods decreased by 8.1%.
Comparing the three-month period ending November 2019 with the preceding three months on a seasonally adjusted basis, the volume of total exports of goods increased by 1.2%. On the other hand, the volume of imports of goods decreased by 1.7%.
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 2019 with November 2018, the prices of total exports of goods decreased by 0.2%. On the other hand, the prices of imports of goods increased by 0.1%.
As regards price changes in the first eleven months of 2019 over the same period in 2018, the prices of total exports of goods and imports of goods both increased by 1.3%.
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 2018, the index decreased by 0.3% in November 2019 and 0.1% in the first eleven months of 2019.
Changes in the unit value and volume of total exports of goods by main destination are shown in Table 1.
Comparing November 2019 with November 2018, double-digit declines were recorded for the total export volume to the USA (-22.6%) and Japan (-14.9%). On the other hand, the total export volume to India (1.7%), Taiwan (2.0%) and the mainland of China (the Mainland) (3.8%) increased.
Over the same period of comparison, the total export prices to India (-1.6%), Taiwan (-1.4%), Japan (-1.2%) and the USA (-0.1%) decreased. On the other hand, the total export prices to the Mainland increased by 1.2%.
Changes in the unit value and volume of imports of goods by main supplier are shown in Table 2.
Comparing November 2019 with November 2018, the import volume from Singapore (-8.1%), the Mainland (-7.7%) and Japan (-3.4%) decreased. On the other hand, the import volume from Korea (6.6%) and Taiwan (19.4%) increased.
Over the same period of comparison, the import prices from Japan increased by 0.4%. On the other hand, the import prices from the Mainland (-0.3%), Taiwan (-0.5%), Korea (-1.1%) and Singapore (-1.7%) decreased.
Further information
Details of the above statistics are published in the November 2019 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/Thursday, January 16, 2020
Issued at HKT 16:30
Issued at HKT 16:30
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