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Further to the external merchandise trade statistics in value terms for February 2007 released earlier on, the Census and Statistics Department (C&SD) today (April 19) released the volume and price statistics of external merchandise trade for that month.
As the trade flows in January and February of each year tend to show considerable volatilities due to differences in timing of the Lunar New Year Holidays, it is useful to analyse the trade figures for these two months taken together. Comparing the first two months of 2007 with the same period in 2006, the volume of Hong Kong's re-exports of goods rose by 12.1%, while that of domestic exports fell significantly, by 36.1%. Taken together, the volume of total exports of goods grew by 8.9%. Concurrently, the imports of goods increased by 6.3% in volume.
In February 2007, the volume of Hong Kong's re-exports of goods increased by 14.0% over February 2006, while that of domestic exports decreased significantly, by 34.3%. Taken together, the volume of total exports of goods increased by 10.9%. Meanwhile, the volume of imports of goods increased marginally, by 0.1%.
Comparing the three-month period ending February 2007 with the preceding three months on a seasonally adjusted basis, the volume of total exports of goods increased by 3.6%. Within this total, the volume of re-exports increased by 4.6%, while that of domestic exports decreased by 15.9%. Concurrently, the volume of imports of goods increased by 1.6%.
Changes in volume of external merchandise trade are derived from changes in external merchandise trade value with the effect of price changes discounted.
As regards the price changes in the first two months of 2007 over the same period in 2006, the prices of re-exports of goods increased by 2.8%, and those of domestic exports by 0.3%. Taken together, the prices of total exports of goods increased by 2.7%. Concurrently, the prices of imports of goods increased by 2.7%.
Comparing February 2007 with February 2006, the prices of re-exports of goods increased by 2.8%, and those of domestic exports by 0.7%. Taken together, the prices of total exports of goods increased by 2.7%. 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 2006, the indices were virtually unchanged both in February 2007 and in the first two months of 2007.
Changes in the value, unit value and volume of total exports of goods by main destination are shown in Table 1.
In February 2007, the total export volume to the United Kingdom increased significantly, by 61.2%, over February 2006. Double-digit growth was also recorded for total export volume to USA (+24.1%) and Germany (+12.4%) over the same periods of comparison. Meanwhile, the total export volume to Japan and the mainland of China (the Mainland) increased by 6.6% and 2.3% respectively.
Comparing February 2007 with February 2006, the total export prices to all main destinations increased: the Mainland (+2.9%), the United Kingdom (+2.7%), Japan (+2.2%), USA (+2.1%) and Germany (+1.4%).
Changes in the value, unit value and volume of imports of goods by main supplier are shown in Table 2.
Comparing February 2007 with February 2006, the import volume from Singapore and the Mainland increased by 13.0% and 6.9% respectively.
In February 2007, the import volume from USA increased marginally, by 0.7%, over February 2006.
Over the same periods of comparison, the import volume from Japan and Taiwan decreased by 6.0% and 12.9% respectively.
Comparing February 2007 with February 2006, the import prices from Taiwan, the Mainland, Japan and USA increased by 9.5%, 3.0%, 1.8% and 0.8% respectively. On the other hand, the import price from Singapore decreased by 2.8%.
Further information
Details of the above statistics are published in the February 2007 issue of the "Hong Kong Merchandise Trade Index Numbers".
Users can download this publication free of charge at the "Statistical Bookstore, Hong Kong" (www.statisticalbookstore.gov.hk) of the C&SD.
Print version of this publication is available for sale at HK$26 per issue. Purchase can be done in person at the Publications Unit of the C&SD (Address: 19/F Wanchai Tower, 12 Harbour Road, Wan Chai; Tel: 2582 3025) or through mail order by returning a completed order form which can be downloaded from the C&SD's website (www.censtatd.gov.hk/products_and_services/other_services/provision_of_stat/mail_ordering_of_publications/index.jsp). Print version of this publication is also available for sale online at the Statistical Bookstore and the Government Bookstore of the Information Services Department (www.isd.gov.hk/eng/bookorder.htm). Print versions if purchased online are offered a discount, at 85% of their original prices.
Moreover, enquiries on trade indices may be directed to the C&SD (Tel: 2582 4918).
Ends/Thursday, April 19, 2007
Issued at HKT 16:15
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