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Hong Kong external trade comprises merchandise trade and trade in services of Hong Kong with external parties.

Glossary of Terms

Term
Definition
Charges for the use of intellectual property
Charges for the use of intellectual property refer to receipts/payments on authorised use of franchises, patents, trademarks, copyrights and other non-financial proprietary rights; and receipts/payments for licences to reproduce and/or distribute intellectual property embodied in products not included elsewhere.
Construction
Construction refers to general construction work (including new work, additions and alterations, repair and maintenance), installation work and specialised services (e.g. painting, plumbing and demolition) that usually last for less than one year at sites, buildings and structures (e.g. bridges). Related construction cost is valued on a gross basis, inclusive of all goods and services involved in the work.
Domestic export value
Domestic exports are f.o.b. (free-on-board) valued.
Domestic exports of goods
Domestic exports of goods refer to the natural produce of Hong Kong or the products of a manufacturing process in Hong Kong which has changed permanently the shape, nature, form or utility of the basic materials used in manufacture.
Domestic exports statistics classified by industrial origin
Domestic exports statistics classified by industrial origin are derived by re-grouping the merchandise domestic export items originally grouped under the external trade classification system according to the industries in which these merchandise items are normally produced. Transactions in gold and specie are not included. Caution should be taken when referring to these domestic export statistics classified by industrial origin. There may be several intermediate processing stages in the production of certain merchandise domestic export items. In compiling the statistics, the total value of such an item has however been wholly related to the industry in which the item is finally produced. Moreover, the domestic export statistics of a particular industry may include secondary products which are produced by establishments of other industries.
Exports of goods to the mainland of China for outward processing
Exports of goods to the mainland of China for outward processing refer to raw materials or semi-manufactures exported from or through Hong Kong to the mainland of China for processing with a contractual arrangement for subsequent re-importation of the processed goods into Hong Kong.
Exports of services
Exports of services are the sales of services to the rest of the world.
Financial services
Financial services cover financial assets dealing and broking services; asset management, investment advisory and related services; underwriting new securities; private placements; merger and acquisition services; corporate finance and venture capital services; credit, bills transactions and loans; other intermediary and auxiliary services associated with letters of credit, bankers acceptances, lines of credit, financial leasing and foreign exchange transactions; trust and custody services; financial market operational and regulatory services; and processing and clearing services of securities transactions.
Government goods and services
Government goods and services cover expenditure of employees of extra-territorial bodies and their dependants in Hong Kong or government offices abroad.
Hong Kong's external merchandise trade statistics
Hong Kong's external merchandise trade statistics are compiled based on information contained in import/export declarations. The Hong Kong Special Administrative Region is a separate customs territory, as stated in "The Basic Law of the Hong Kong Special Administrative Region of the People's Republic of China". Import/export declaration is also required of Hong Kong's merchandise trade with the mainland of China, and statistics relating to this are included in Hong Kong's external merchandise trade statistics.
Import value
Imports are c.i.f. (cost, insurance, freight) valued.
Imports of goods
Imports of goods refer to goods which have been produced or manufactured in places outside the jurisdiction of Hong Kong and brought into Hong Kong for domestic use or for subsequent re-export as well as products of Hong Kong which are re-imported.
Imports of goods from the mainland of China related to outward processing
Imports of goods from the mainland of China related to outward processing refer to processed goods imported to Hong Kong from the mainland of China of which all or part of the raw materials or semi-manufactures have been under contractual arrangement exported from or through Hong Kong to the mainland of China for processing.
Imports of services
Imports of services are the purchases of services from the rest of the world.
Insurance and pension services
Insurance and pension services cover all types of direct insurance and reinsurance services, and auxiliary services related to insurance transactions including agency services.
Maintenance and repair services
Maintenance and repair services cover maintenance and repair work on goods owned by non-residents, including ships, aircraft, other transport equipment and machines, which is not included elsewhere. The maintenance and repair services related to construction and computers are included under construction and computer services respectively instead.
Manufacturing services
Manufacturing services refer to activities such as processing, assembly, labelling and packing on physical inputs owned by non-residents, where the manufacturing services are undertaken by processing entities that do not own the goods concerned.
Net exports of services
Net exports of services refer to the balance of exports of services less imports of services.
Other business services
Other business services include research and development, and services related to innovation activities; legal services; accounting, auditing, book-keeping and tax consulting services; business and management consulting, and public relations services; advertising, market research and public opinion polling services; architectural, engineering, scientific and other technical services; operating leasing services; trade-related services; and miscellaneous business services.
Personal, cultural and recreational services
Personal, cultural and recreational services cover audio-visual and related services; and health services, education services and other personal services.
Quantum index
The quantum index measures changes in the volume of external merchandise trade. In compiling the quantum index for a particular year, volume estimates revalued at preceding year prices are first produced by deflating the current trade values at sub-classes levels by the corresponding unit value indices. The volume estimate of trade aggregates for that year is then obtained by aggregating the volume estimates of sub-classes revalued at preceding year prices. The short-term volume index of trade aggregates for that particular year is then calculated by dividing the volume estimate of trade aggregate for that year by the corresponding trade value for the preceding year. Short-term volume indices for other years are compiled in a similar manner. This results in pairs of short-term volume indices for trade aggregates and its sub-classes which measure the year-to-year movements in volume terms in trade aggregates and its sub-classes. The preceding-year weighted short-term volume indices for other years are then chain linked to a selected reference year in order to obtain a continuous time series of the chain volume indices of trade aggregates and its sub-classes.
Re-export export value
Re-exports are f.o.b. (free-on-board) valued.
Re-exports of goods
Re-exports of goods refer to products which have previously been imported into Hong Kong and which are re-exported without having undergone in Hong Kong a manufacturing process which has changed permanently the shape, nature, form or utility of the product.
Re-exports of goods of the mainland of China origin to other places involving outward processing in the mainland of China
Re-exports of goods of the mainland of China origin to other places involving outward processing in the mainland of China refer to processed goods re-exported through Hong Kong of which all or part of the raw materials or semi-manufactures have been exported from or through Hong Kong to the mainland of China for processing with a contractual arrangement for subsequent re-importation of the processed goods into Hong Kong.
Retained imports of goods
Retained imports of goods refer to those imported goods which are retained for use in Hong Kong rather than being re-exported to other places. The value of retained imports of goods is derived by subtracting the estimated import value of re-exports of goods from the value of imports of goods. The former is obtained by removing an estimated re-export margin from the value of re-exports of goods. The Census and Statistics Department regularly conducts a survey of re-export trade, based on which the rates of re-export margin for different categories of goods are estimated for deriving retained import statistics. Retained import statistics are subject to revision when the latest estimates on rates of re-export margin become available.
Telecommunications, computer and information services
Telecommunications, computer and information services cover services on the broadcast or transmission of sound, images and data; computer hardware/software related services, data processing and database services, maintenance and repair of computers, system maintenance and support services; news agency services and other information services.
Total exports of goods
Total exports of goods comprise domestic exports and re-exports.
Total merchandise trade
Total merchandise trade refers to all the movements of merchandise between Hong Kong and her trading partners, by land, air, water and by post. It comprises imports, domestic exports and re-exports of goods.
Trade in services (TIS)
Trade in services (TIS) refers to exports of services and imports of services. Exports of services are the sales of services to the rest of the world, whereas imports of services are the purchases of services from the rest of the world.
Transport
Transport covers activities like carriage of passengers and goods; rentals of carriers with crew; related supporting and auxiliary services; and postal and courier services.
Travel
Travel covers expenditure on all goods and services acquired by travellers for personal use from the territory in which they are travelling, e.g. expenditure on lodging, meals, entertainment, transportation within the territory visited and articles purchased. Travellers include those travelling for business and personal purposes (including study).
Unit value index
The unit value index measures changes in the price of external merchandise trade. It is compiled from unit values in trade statistics, supplemented by product specification price data from an import/export price survey. The unit value index is obtained by first computing the price relative in the current period over that in the previous year, and then using the trade values in the previous year as weights to aggregate the price relatives of different commodity items. The result, being an index with the previous year as base, is linked to a selected reference year by the method of chaining.
Unit value of a commodity item
The unit value of a commodity item is the average value obtained by dividing its total value by its corresponding quantity. Unit values are subject to the effect of changes over time in quality, product mix and markets or sources of supply for a commodity item in addition to pure price changes. To supplement the unit values from trade statistics, an import/export price survey is conducted to obtain the import or export prices of specified commodity items for inclusion in compiling the Unit Value Index.
Value index
The value index measures changes in the value of external merchandise trade. It is the ratio, expressed in index form by multiplying by 100, of the value of an aggregation of trade in the current period to that of the same aggregation of trade in the reference year.