************************************************************
Further to the external merchandise trade statistics in value terms for March 2007 released earlier on, the Census and Statistics Department (C&SD) released today (May 14) the volume and price statistics of external merchandise trade for that month.
In March 2007, the volume of Hong Kong's re-exports of goods increased by 8.0% over March 2006, whereas that of domestic exports fell significantly, by 27.9%. Taken together, the volume of total exports of goods increased by 6.0%. Concurrently, the volume of imports of goods increased by 12.0%.
For the first quarter of 2007 as a whole, the volume of Hong Kong's re-exports of goods rose by 10.6% over the same period in 2006, whereas that of domestic exports dropped significantly, by 33.5%. Taken together, the volume of total exports of goods increased by 7.8%. Concurrently, the volume of imports of goods increased by 8.4%.
Comparing the first quarter of 2007 with the fourth quarter of 2006 on a seasonally adjusted basis, the volume of total exports of goods increased by 1.4%. Within this total, the volume of re-exports increased by 1.6%, whereas that of domestic exports decreased by 1.1%. Concurrently, the volume of imports of goods increased by 1.0%.
Changes in volume of external merchandise trade are derived from changes in external merchandise trade value with the effect of price changes discounted.
Comparing March 2007 with March 2006, the prices of re-exports of goods increased by 2.8%, while those of domestic exports increased by 0.4%. Taken together, the prices of total exports of goods increased by 2.7%. Concurrently, the prices of imports of goods increased by 2.5%.
As regards the price changes in the first quarter of 2007 over the same period in 2006, the prices of re-exports of goods increased by 2.8%, and those of domestic exports by 0.4%. Taken together, the prices of total exports of goods increased by 2.7%. Concurrently, the prices of imports of goods increased by 2.6%.
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 2006, the index increased by 0.2% in March 2007 and 0.1% in the first quarter of 2007.
Changes in the value, unit value and volume of total exports of goods by main destination are shown in Table 1.
In March 2007, the total export volume to the mainland of China (the Mainland) and Japan increased by 16.1% and 0.9% respectively over March 2006. On the other hand, the total export volume to the United Kingdom, USA and Germany decreased by 8.6%, 9.7% and 12.1% respectively over the same period of comparison.
Comparing March 2007 with March 2006, the total export prices to all main destinations increased: the Mainland (+2.9%), Japan (+2.2%), the United Kingdom (+2.1%), USA (+2.0%) and Germany (+1.6%).
Changes in the value, unit value and volume of imports of goods by main supplier are shown in Table 2.
In March 2007, the import volume from Singapore grew significantly, by 29.7%, over March 2006. Double-digit growth was also recorded for the import volume from USA (+17.2%) and Japan (+11.6%) over the same period of comparison. Concurrently, the import volume from the Mainland and Taiwan increased by 8.7% and 5.2% respectively.
Comparing March 2007 with March 2006, the import prices from the Mainland, Taiwan and Japan increased by 3.6%, 2.8% and 2.0% respectively. On the other hand, the import prices from USA and Singapore decreased by 0.5% and 2.4% respectively.
Further information
Details of the above statistics are published in the March 2007 issue of the "Hong Kong Merchandise Trade Index Numbers". Users can download this publication free of charge at the Website of C&SD (www.censtatd.gov.hk/products_and_services/products/publications/index.jsp).
Print version of this publication is available for sale at HK$26 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 (www.statisticalbookstore.gov.hk) and the Government Bookstore of the Information Services Department (www.bookstore.gov.hk). Print versions if purchased online are offered a discount, at 85% of their original prices.
Enquiries on merchandise trade indices may be directed to Trade Analysis Section of the C&SD (Tel: 2582 4918).
Ends/Monday, May 14, 2007
Issued at HKT 16:15
NNNN
