Volume and price statistics of external merchandise trade in November 2020
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In November 2020, the volume of Hong Kong's total exports of goods and imports of goods increased by 6.2% and 5.2% respectively over November 2019.
Comparing the first eleven months of 2020 with the same period in 2019, the volume of Hong Kong’s total exports of goods and imports of goods decreased by 2.0% and 4.1% respectively.
Comparing the three-month period ending November 2020 with the preceding three months on a seasonally adjusted basis, the volume of total exports of goods and imports of goods increased by 8.3% and 6.7% respectively.
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 2020 with November 2019, the prices of total exports of goods and imports of goods both decreased by 0.2%.
As regards price changes in the first eleven months of 2020 over the same period in 2019, the prices of total exports of goods and imports of goods decreased by 0.7% and 0.8% respectively.
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 2019, the index remained virtually unchanged in November 2020, whereas it increased by 0.1% in the first eleven months of 2020.
Changes in the unit value and volume of total exports of goods by main destination are shown in Table 1.
Comparing November 2020 with November 2019, a double-digit increase of 16.7% was recorded for the total export volume to Taiwan. Concurrently, the total export volume to the mainland of China (the Mainland) (8.6%), Japan (2.5%) and the USA (2.4%) also increased. On the other hand, the total export volume to India decreased by 14.7%.
Over the same period of comparison, the total export prices to Japan (-0.1%), the USA (-0.1%) and the Mainland (-0.1%) decreased. On the other hand, the total export prices to India (0.8%) and Taiwan (3.4%) increased.
Changes in the unit value and volume of imports of goods by main supplier are shown in Table 2.
Comparing November 2020 with November 2019, double-digit increases were recorded for the import volume from Korea (18.2%) and Taiwan (17.6%). Concurrently, the import volume from the Mainland (5.9%) and Singapore (5.2%) also increased. On the other hand, the import volume from Japan decreased by 0.4%.
Over the same period of comparison, the import prices from the Mainland decreased by 1.5%. On the other hand, the import prices from Korea (0.2%), Japan (0.8%), Taiwan (1.0%) and Singapore (1.8%) increased.
Further information
Details of the above statistics are published in the November 2020 issue of "Hong Kong Merchandise Trade Index Numbers". Users can download the publication 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/Monday, January 18, 2021
Issued at HKT 16:39
Issued at HKT 16:39
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