Volume and price statistics of external merchandise trade in July 2017
Volume and price statistics of external merchandise trade in July 2017
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     Further to the external merchandise trade statistics in value terms for July 2017 released earlier on, the Census and Statistics Department (C&SD) released today (September 19) the volume and price statistics of external merchandise trade for that month.
      
     In July 2017, the volume of Hong Kong's re-exports of goods increased by 5.8% over July 2016, whereas that of domestic exports decreased by 6.0%. Taken together, the volume of total exports of goods increased by 5.7%. Concurrently, the volume of imports of goods increased by 4.0%.
      
     Comparing the first seven months of 2017 with the same period in 2016, the volume of Hong Kong's re-exports of goods increased by 7.0%, whereas that of domestic exports decreased by 0.5%. Taken together, the volume of total exports of goods increased by 7.0%. Concurrently, the volume of imports of goods increased by 7.1%.
      
     Comparing the three-month period ending July 2017 with the preceding three months on a seasonally adjusted basis, the volume of total exports of goods decreased by 1.0%. Within this total, the volume of re-exports decreased by 1.0%, while that of domestic exports decreased by 0.5%. Concurrently, the volume of imports of goods decreased 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 July 2017 with July 2016, the prices of re-exports of goods increased by 1.6%, while those of domestic exports increased by 1.4%. Taken together, the prices of total exports of goods increased by 1.6%. Concurrently, the prices of imports of goods increased by 1.4%.
      
     As regards price changes in the first seven months of 2017 over the same period in 2016, the prices of re-exports of goods increased by 1.6%, while those of domestic exports increased by 2.4%. Taken together, the prices of total exports of goods increased by 1.6%. Concurrently, the prices of imports of goods increased by 1.6%.
      
     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 2016, the index increased by 0.2% in July 2017, whereas it decreased by 0.1% in the first seven months of 2017.
      
     Changes in the unit value and volume of total exports of goods by main destination are shown in Table 1.
      
     Comparing July 2017 with July 2016, a double-digit growth of 18.3% was recorded for the total export volume to Taiwan. Concurrently, the total export volume to Japan, the mainland of China (the Mainland) and the USA increased by 8.0%, 6.4% and 0.1% respectively. On the other hand, the total export volume to India decreased by 2.3%.
      
     Over the same period of comparison, the total export prices to Taiwan, the Mainland, India and Japan increased by 3.6%, 2.4%, 1.6% and 1.2% respectively. On the other hand, the total export prices to the USA decreased by 1.2%.
      
     Changes in the unit value and volume of imports of goods by main supplier are shown in Table 2.
      
     Comparing July 2017 with July 2016, double-digit increases were recorded for the import volume from Singapore (+18.0%) and Korea (+17.7%). Concurrently, the import volume from the Mainland increased by 2.7%. On the other hand, the import volume from Taiwan and Japan decreased by 1.1% and 3.3% respectively. 
      
     Over the same period of comparison, the import prices from Korea, Taiwan, the Mainland and Singapore increased by 4.7%, 3.2%, 1.3% and 0.7% respectively. On the other hand, the import prices from Japan decreased by 0.3%.
      
Further information
      
     Details of the above statistics are published in the July 2017 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/hkstat/sub/sp230.jsp?productCode=B1020006).
      
     Enquiries on merchandise trade indices may be directed to the Trade Analysis Section (1) of the C&SD (Tel: 2582 4918).
 
Ends/Tuesday, September 19, 2017
Issued at HKT 16:30
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