Volume and price statistics of external merchandise trade in October 2018
Volume and price statistics of external merchandise trade in October 2018
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     Further to the external merchandise trade statistics in value terms for October 2018 released earlier on, the Census and Statistics Department (C&SD) released today (December 20) the volume and price statistics of external merchandise trade for that month.

     In October 2018, the volume of Hong Kong's total exports of goods increased by 11.9% over October 2017. Concurrently, the volume of imports of goods increased by 10.3%.

     Comparing the first ten months of 2018 with the same period in 2017, the volume of Hong Kong's total exports of goods increased by 7.2%. Concurrently, the volume of imports of goods increased by 8.4%.

     Comparing the three-month period ending October 2018 with the preceding three months on a seasonally adjusted basis, the volume of total exports of goods increased by 1.1%. Concurrently, the volume of imports of goods increased by 0.7%.

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

     Comparing October 2018 with October 2017, the prices of total exports of goods increased by 2.6%. Concurrently, the prices of imports of goods increased by 2.9%.

     As regards price changes in the first ten months of 2018 over the same period in 2017, the prices of total exports of goods increased by 2.5%.  Concurrently, the prices of imports of goods increased by 2.7%.

     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 2017, the index decreased by 0.4% and 0.1% in October 2018 and in the first ten months of 2018 respectively.

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

     Comparing October 2018 with October 2017, double-digit increases were recorded for the total export volume to Vietnam (+15.7%) and the mainland of China (the Mainland) (+13.4%). Concurrently, the total export volume to the USA increased by 8.1%. On the other hand, the total export volume to India and Japan decreased by 2.7% and 9.1% respectively.

     Over the same period of comparison, the total export prices to the Mainland, the USA and Japan increased by 3.8%, 2.5% and 1.9% respectively. On the other hand, the total export prices to Vietnam and India decreased by 0.2% and 3.7% respectively.

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

     Comparing October 2018 with October 2017, double-digit increases were recorded for the import volume from the Mainland (+14.1%) and Japan (+10.8%). Concurrently, the import volume from Korea and Singapore increased by 9.0% and 8.6% respectively. On the other hand, the import volume from Taiwan decreased by 5.0%.

     Over the same period of comparison, the import prices from all main suppliers increased: Korea (+5.3%), Singapore (+3.9%), the Mainland (+3.7%), Japan (+3.2%) and Taiwan (+1.3%).

Further information

     Details of the above statistics are published in the October 2018 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/Thursday, December 20, 2018
Issued at HKT 16:30
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