Further to the external merchandise trade statistics in value terms for October 2007 released earlier on, the Census and Statistics Department (C&SD) released December 14 the volume and price statistics of external merchandise trade for that month.
In October 2007, the volume of Hong Kong's re-exports of goods increased by 9.5% over October 2006, whereas that of domestic exports fell by 10.6%. Taken together, the volume of total exports of goods increased by 8.5%. Concurrently, the volume of imports of goods increased by 12.1%.
Comparing the first ten months of 2007 with the same period in 2006, the volume of Hong Kong's re-exports of goods rose by 10.9%, whereas that of domestic exports dropped significantly, by 23.1%. Taken together, the volume of total exports of goods grew by 8.9%. Concurrently, the volume of imports of goods increased by 10.6%.
Comparing the three-month period ending October 2007 with the preceding three months on a seasonally adjusted basis, the volume of total exports of goods increased by 1.1%. Within this total, the volume of re-exports increased by 1.6%, and that of domestic exports decreased by 9.4%. Concurrently, the volume of imports of goods increased by 2.3%.
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 2007 with October 2006, the prices of re-exports of goods increased by 2.6%, while those of domestic exports increased by 1.3%. Taken together, the prices of total exports of goods increased by 2.5%. Concurrently, the prices of imports of goods increased by 2.3%.
As regards price changes in the first ten months of 2007 over the same period in 2006, the prices of re-exports of goods increased by 2.3%, while those of domestic exports increased by 0.7%. Taken together, the prices of total exports of goods increased by 2.3%. Concurrently, the prices of imports of goods increased by 2.1%.
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 2006, the index increased by 0.2% in October 2007 and 0.1% in the first ten months of 2007.
Comparing October 2007 with October 2006, the total export volume to the mainland of China (the Mainland) and Germany increased by 14.9% and 10.3% respectively. On the other hand, the total export volume to Japan, the United Kingdom and the USA decreased by 4.1%, 6.0% and 8.9% respectively.
Comparing October 2007 with October 2006, the total export prices to all main destinations increased: the USA (+4.1%), the United Kingdom (+3.4%), the Mainland (+2.6%), Japan (+0.9%) and Germany (+0.7%).
Comparing October 2007 with October 2006, double-digit growth was recorded for the import volume from Singapore (+17.2%) and the Mainland (+12.9%). Concurrently, the import volume from Taiwan, Korea and Japan increased by 8.6%, 6.8% and 6.2% respectively.
Comparing October 2007 with October 2006, the import prices from all main suppliers increased: Singapore (+3.8%), Korea (+3.1%), Taiwan (+2.6%), the Mainland (+2.4%), and Japan (+1.3%).
