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Further to the external merchandise trade statistics in value terms for December 2006 released earlier on, the Census and Statistics Department (C&SD) today (February 13) released the volume and price statistics of external merchandise trade for that month.
In December 2006, the volume of Hong Kong's re-exports of goods increased by 17.6% over December 2005, while that of domestic exports decreased significantly, by 39.0%. Taken together, the volume of total exports of goods increased by 13.4%. Concurrently, the volume of imports of goods increased by 12.2%.
Comparing 2006 with 2005, the volume of Hong Kong's re-exports of goods rose by 10.8%, and that of domestic exports by 1.1%. Taken together, the volume of total exports of goods grew by 10.2%. Concurrently, the volume of imports of goods increased by 10.2%.
Comparing the fourth quarter of 2006 with the preceding quarter on a seasonally adjusted basis, the volume of total exports of goods increased by 3.3%. Within this total, the volume of re-exports increased by 4.6%, while that of domestic exports decreased by 19.9%. Concurrently, the volume of imports of goods increased by 4.0%.
Changes in volume of external merchandise trade are derived from changes in external merchandise trade value with the effect of price changes discounted.
Comparing December 2006 with December 2005, the prices of re-exports of goods increased by 2.5%, while those of domestic exports decreased by 0.8%. Taken together, the prices of total exports of goods increased by 2.3%. Concurrently, the prices of imports of goods increased by 3.0%.
As regards price changes in 2006 over 2005, the prices of re-exports of goods increased by 1.1%, while those of domestic exports decreased by 2.1%. Taken together, the prices of total exports of goods increased by 1.0%. Concurrently, the prices of imports of goods increased by 2.1%.
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 0.8% in December 2006 and 1.1% in 2006.
Changes in the value, unit value and volume of re-exports of goods by end-use category are shown in Table 1.
In December 2006, the re-export volume of "raw materials and semi-manufactures" increased substantially, by 21.8%, over December 2005. Significant increases in re-export volume were noted for "base metal other than iron and steel" and "chemical elements and compounds". On the other hand, decreases in re-export volume were recorded for "lime, cement, and fabricated building materials except glass, clay construction materials and refractory construction materials" and "wool and animal hair, and yarn, thread and fabrics of wool and animal hair".
The re-export volume of "capital goods" increased by 19.9% in December 2006 over December 2005. Significant increases in re-export volume were noted for "transport equipment" and "office machinery". On the other hand, decrease in re-export volume was recorded for "electrical machinery".
In December 2006, the volume of re-exports of "consumer goods" increased by 9.9% over December 2005. Significant increases in re-export volume were recorded for "clothing" and "toys, games and sporting goods". On the other hand, substantial decreases in re-export volume were recorded for "passenger motor cars" and "cameras, flashlight apparatus and supplies for photography".
Over the same periods of comparison, the re-export volume of "foodstuffs" increased significantly, by 41.4%, while that of "fuels" decreased by 11.4%.
Comparing December 2006 with December 2005, the re-export prices of "raw materials and semi-manufactures", "consumer goods", "foodstuffs" and "capital goods" increased by 2.8%, 2.7%, 2.6% and 2.0% respectively. On the other hand, the re-export price of "fuels" decreased by 4.0%.
Changes in the value, unit value and volume of domestic exports of goods by selected principal commodity group are shown in Table 2.
Comparing December 2006 with December 2005, the volume of domestic exports of "office machines and equipment" and "clothing" decreased significantly, by 65.6% and 56.7% respectively. On the other hand, the volume of domestic exports of "jewellery, precious stones and related articles" increased by 15.4%.
Over the same periods of comparison, decreases were recorded in the prices of domestic exports of some principal commodity groups, in particular those of "office machines and equipment" and "electronic components".
Changes in the value, unit value and volume of imports of goods by end-use category are shown in Table 3.
Comparing December 2006 with December 2005, the import volume of "capital goods" increased substantially, by 22.3%. Within this total, substantial increases were recorded in the import volume of "office machinery" and "transport equipment". On the other hand, decreases in import volume were recorded for "construction machinery" and "scientific, medical, optical, measuring, and controlling instruments and apparatus".
The import volume of "raw materials and semi-manufactures" increased by 11.2% in December 2006 over December 2005. Significant increases in import volume were noted for "chemical elements and compounds" and "base metal other than iron and steel". On the other hand, decreases in import volume were recorded for "lime, cement, and fabricated building materials except glass, clay construction materials and refractory construction materials" and "paper and paperboard".
The import volume of "consumer goods" increased by 5.4% in December 2006 over December 2005. Significant increases in import volume were recorded for "toys, games and sporting goods" and "tobacco manufactures". On the other hand, substantial decreases in import volume were noted for "passenger motor cars" and "household-type electrical appliances".
Over the same periods of comparison, the import volume of "foodstuffs" and "fuels" decreased by 4.3% and 17.5% respectively.
Comparing December 2006 with December 2005, the import prices of all end-use categories increased: "raw materials and semi-manufactures" (+5.6%), "foodstuffs" (+3.5%), "fuels" (+3.3%), "capital goods" (+1.5%) and "consumer goods" (+1.1%).
Further information
Details of the above statistics are published in the December 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/Tuesday, February 13, 2007
Issued at HKT 16:15
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