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Further to the external merchandise trade statistics in value terms for August 2006 released earlier on, the Census and Statistics Department (C&SD) today (October 23) released the volume and price statistics of external merchandise trade for that month.
In August 2006, the volume of Hong Kong's re-exports of goods increased by 11.5% over August 2005, while that of domestic exports decreased by 6.4%. Taken together, the volume of total exports of goods increased by 10.2%. Concurrently, the volume of imports of goods increased by 10.1%.
Comparing the first eight months of 2006 with the same period in 2005, the volume of Hong Kong's re-exports of goods rose by 9.6%, while that of domestic exports grew substantially, by 23.6%. Taken together, the volume of total exports of goods grew by 10.4%. Concurrently, the volume of imports of goods increased by 10.0%.
Comparing the three-month period ending August 2006 with the preceding three months on a seasonally adjusted basis, the volume of total exports of goods increased by 5.5%. Within this total, the volume of re-exports increased by 6.0%, while that of domestic exports decreased by 2.3%. Concurrently, the volume of imports of goods increased by 4.3%.
Changes in volume of external merchandise trade are derived from changes in external merchandise trade value with the effect of price changes discounted.
Comparing August 2006 with August 2005, the prices of re-exports of goods increased by 1.5%, while those of domestic exports decreased by 0.8%. Taken together, the prices of total exports of goods increased by 1.3%. Concurrently, the prices of imports of goods increased by 2.7%.
As regards price changes in the first eight months of 2006 over the same period in 2005, the prices of re-exports of goods increased by 0.7%, while those of domestic exports decreased by 2.8%. Taken together, the prices of total exports of goods increased by 0.5%. 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 2005, the index decreased by 1.3% both in August 2006 and in the first eight months of 2006.
Changes in the value, unit value and volume of re-exports of goods by end-use category are shown in Table 1.
The re-export volume of "capital goods" increased substantially, by 22.5% in August 2006 over August 2005. Significant increases in re-export volume were noted for "office machinery" and "scientific, medical, optical, measuring, and controlling instruments and apparatus". On the other hand, decrease in re-export volume was recorded for "transport equipment".
In August 2006, the re-export volume of "raw materials and semi-manufactures" increased by 13.6% over August 2005. Significant increases in re-export volume were noted for "base metal other than iron and steel" and "electronic components". On the other hand, decreases in re-export volume were recorded for "chemical elements and compounds" and "paper and paperboard".
In August 2006, the volume of re-exports of "consumer goods" decreased marginally, by 0.1%, over August 2005. Decreases in re-export volume were recorded for "passenger motor cars" and "cameras, flashlight apparatus and supplies for photography". On the other hand, increases in re-export volume were recorded for "alcoholic beverages" and "clothing".
Over the same periods of comparison, the re-export volume of "fuels" increased by 3.4%, while that of "foodstuffs" decreased by 1.5%.
Comparing August 2006 with August 2005, the re-export prices of all end-use categories increased: "fuels" (+26.8%), "consumer goods" (+3.0%), "raw materials and semi-manufactures" (+0.9%), "foodstuffs" (+0.6%) and "capital goods" (+0.4%).
Changes in the value, unit value and volume of domestic exports of goods by selected principal commodity group are shown in Table 2.
Comparing August 2006 with August 2005, the volume of domestic exports of "clothing" and "electronic components" decreased significantly, by 32.0% and 28.7% respectively. On the other hand, the volume of domestic exports of "office machines and equipment" and "metal manufactures" increased sharply, by 147.2% and 66.5% respectively.
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 "textiles".
Changes in the value, unit value and volume of imports of goods by end-use category are shown in Table 3.
Comparing August 2006 with August 2005, the import volume of "capital goods" increased substantially, by 25.0%. Within this total, marked increases were recorded in the import volume of "transport equipment" and "office machinery".
The import volume of "raw materials and semi-manufactures" increased by 5.2% in August 2006 over August 2005. Increases in import volume were noted for "iron and steel" and "base metal other than iron and steel". On the other hand, decreases in import volume were recorded for "chemical elements and compounds" and "wool and animal hair, and yarn, thread and fabrics of wool and animal hair".
The import volume of "consumer goods" increased by 1.7% in August 2006 over August 2005. Increases in import volume were recorded for "toys, games and sporting goods" and "alcoholic beverages". On the other hand, substantial decreases in import volume were noted for "cameras, flashlight apparatus and supplies for photography" and "watches and clocks".
Over the same periods of comparison, the import volume of "fuels" and "foodstuffs" increased by 13.1% and 2.5% respectively.
Comparing August 2006 with August 2005, the import prices of all end-use categories increased: "fuels" (+16.3%), "raw materials and semi-manufactures" (+4.6%), "capital goods" (+1.6%), "foodstuffs" (+1.2%) and "consumer goods" (+0.2%).
Further information
Details of the above statistics are published in the August 2006 issue of the "Hong Kong Merchandise Trade Index Numbers".
Users can download this publication free of charge at the "Statistical Bookstore, Hong Kong" (www.statisticalbookstore.gov.hk) of the C&SD.
Print version of this publication is available for sale at HK$22 per issue. Purchase can be done in person at the Publications Unit of the C&SD (Address : 19/F Wanchai Tower, 12 Harbour Road, Wan Chai; Tel. : 2582 3025) or through mail order by returning a completed order form which can be downloaded from the C&SD's website (www.censtatd.gov.hk/products_and_services/other_services/provision_of_stat/mail_ordering_of_publications/index.jsp). Print version of this publication is also available for sale online at the Statistical Bookstore and the Government Bookstore of the Information Services Department (www.isd.gov.hk/eng/bookorder.htm). Print versions if purchased online are offered a discount, at 85% of their original prices.
Moreover, enquiries on trade indices may be directed to the C&SD (Tel. : 2582 4918).
Ends/Monday, October 23, 2006
Issued at HKT 16:15
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