Volume and price statistics of external merchandise trade in August 2017
Volume and price statistics of external merchandise trade in August 2017
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     Further to the external merchandise trade statistics in value terms for August 2017 released earlier on, the Census and Statistics Department (C&SD) released today (October 17) the volume and price statistics of external merchandise trade for that month.

     In August 2017, the volume of Hong Kong's re-exports of goods increased by 5.6% over August 2016, whereas that of domestic exports decreased by 5.4%. Taken together, the volume of total exports of goods increased by 5.4%. Concurrently, the volume of imports of goods increased by 5.8%.

     Comparing the first eight months of 2017 with the same period in 2016, the volume of Hong Kong's re-exports of goods increased by 6.8%, whereas that of domestic exports decreased by 1.2%. Taken together, the volume of total exports of goods increased by 6.7%. Concurrently, the volume of imports of goods increased by 6.9%.

     Comparing the three-month period ending August 2017 with the preceding three months on a seasonally adjusted basis, the volume of total exports of goods increased by 0.3%. Within this total, the volume of re-exports increased by 0.3%, whereas that of domestic exports decreased by 0.3%. Concurrently, the volume of imports of goods increased by 2.2%.

     Changes in volume of external merchandise trade are derived from changes in external merchandise trade value with the effect of price changes discounted.

     Comparing August 2017 with August 2016, the prices of re-exports of goods increased by 1.8%, while those of domestic exports increased by 1.6%. Taken together, the prices of total exports of goods increased by 1.8%. Concurrently, the prices of imports of goods increased by 2.1%.

     As regards price changes in the first eight 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 2.3%. Taken together, the prices of total exports of goods increased by 1.6%. Concurrently, the prices of imports of goods increased by 1.7%.

     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 decreased by 0.3% and 0.1% in August 2017 and in the first eight months of 2017 respectively.

     Changes in the unit value and volume of total exports of goods by main destination are shown in Table 1.

     Comparing August 2017 with August 2016, a double-digit growth of 19.3% was recorded for the total export volume to Taiwan. Concurrently, the total export volume to Japan, the mainland of China (the Mainland) and India increased by 9.2%, 7.9% and 3.7% respectively. On the other hand, the total export volume to the USA decreased by 5.3%.

     Over the same period of comparison, the total export prices to Taiwan, the Mainland, Japan and India increased by 3.8%, 2.8%, 1.5% and 0.7% respectively. On the other hand, the total export prices to the USA decreased by 0.4%.

     Changes in the unit value and volume of imports of goods by main supplier are shown in Table 2.

     Comparing August 2017 with August 2016, the import volume from Singapore and Korea increased significantly, by 27.3% and 25.2% respectively. Concurrently, the import volume from Japan, the Mainland and Taiwan increased by 5.7%, 2.7% and 1.5% respectively.

     Over the same period of comparison, the import prices from all main suppliers increased: Korea (+5.0%), Taiwan (+4.8%), Singapore (+2.9%), the Mainland (+1.5%) and Japan (+1.3%).

Further information

     Details of the above statistics are published in the August 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, October 17, 2017
Issued at HKT 16:30
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