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Further to the external merchandise trade statistics in value terms for March 2010 released earlier on, the Census and Statistics Department (C&SD) released today (May 13) the volume and price statistics of external merchandise trade for that month.
In March 2010, the volume of Hong Kong's re-exports of goods grew significantly, by 27.7% over March 2009, while that of domestic exports increased by 18.5%. Taken together, the volume of total exports of goods went up by 27.4%. Concurrently, the volume of imports of goods increased by 35.2%.
For the first quarter of 2010 as a whole, the volume of Hong Kong's re-exports of goods grew significantly, by 23.5% over the same period in 2009, while that of domestic exports also grew by 20.2%. Taken together, the volume of total exports of goods increased by 23.4%. Concurrently, the volume of imports of goods increased sharply, by 31.4%.
Comparing the first quarter of 2010 with the fourth quarter of 2009 on a seasonally adjusted basis, the volume of total exports of goods increased by 8.9%. Within this total, the volume of re-exports increased by 8.5%, while that of domestic exports grew significantly, by 26.7%. Concurrently, the volume of imports of goods increased by 9.7%.
Changes in volume of external merchandise trade are derived from changes in external merchandise trade value with the effect of price changes discounted.
Comparing March 2010 with March 2009, the prices of re-exports of goods increased by 3.4%, while those of domestic exports increased by 4.5%. Taken together, the prices of total exports of goods increased by 3.4%. Concurrently, the prices of imports of goods increased by 4.9%.
As regards the price changes in the first quarter of 2010 over the same period in 2009, the prices of re-exports of goods increased by 2.8%, while those of domestic exports increased by 3.2%. Taken together, the prices of total exports of goods increased by 2.8%. Concurrently, the prices of imports of goods increased by 3.6%.
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 period in 2009, the index decreased by 1.4% in March 2010 and 0.8% in the first quarter of 2010.
Changes in the unit value and volume of total exports of goods by main destination are shown in Table 1.
Comparing March 2010 with March 2009, the total export volume to the mainland of China (the Mainland) and Taiwan rose sharply, by 36.2% and 34.7% respectively. Concurrently, the total export volume to Japan and the USA increased by 22.3% and 5.2% respectively. On the other hand, the total export volume to Germany decreased by 11.3%.
Over the same period of comparison, the total export prices to the Mainland, Taiwan, Japan and Germany increased by 5.7%, 4.7%, 1.0% and 1.0% respectively. On the other hand, the total export prices to the USA decreased by 0.3%.
Changes in the unit value and volume of imports of goods by main supplier are shown in Table 2.
In March 2010, the import volume from Japan and Taiwan went up substantially, by 62.1% and 42.7% respectively over March 2009. Concurrently, the import volume from the Mainland, Singapore and the USA increased by 31.5%, 27.9% and 9.1% respectively.
Comparing March 2010 with March 2009, the import prices from all main suppliers increased: Singapore (+13.8%), Taiwan (+9.4%), the USA (+3.5%), Japan (+3.1%) and the Mainland (+2.7%).
Further information
Details of the above statistics are published in the March 2010 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/products_and_services/products/publications/statistical_report/external_trade/index.jsp).
Enquiries on merchandise trade indices may be directed to Trade Analysis Section of the C&SD (Tel.: 2582 4918).
Ends/Thursday, May 13, 2010
Issued at HKT 16:30
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