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     Further to the external merchandise trade statistics in value terms for September 2024 released earlier on, the Census and Statistics Department (C&SD) released today (November 12) the volume and price statistics of external merchandise trade for that month.

     In September 2024, the volume of Hong Kong’s total exports of goods increased by 1.2%, while the volume of imports of goods decreased by 1.2% over September 2023.

     Comparing the first nine months of 2024 with the same period in 2023, the volume of Hong Kong’s total exports of goods and imports of goods increased by 6.4% and 3.5% respectively.

     Comparing the third quarter of 2024 with the preceding quarter on a seasonally adjusted basis, the volume of total exports of goods decreased by 3.1%, while 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 September 2024 with September 2023, the prices of total exports of goods and imports of goods increased by 3.1% and 2.4% respectively.

     As regards price changes in the first nine months of 2024 over the same period in 2023, the prices of total exports of goods and imports of goods increased by 3.9% and 3.4% respectively.

     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 2023, the index increased by 0.7% in September 2024 and 0.5% in the first nine months of 2024.
 
     Changes in the unit value and volume of total exports of goods by main destination are shown in Table 1.

     Comparing September 2024 with September 2023, increases were recorded for the total export volume to Vietnam (29.6%) and the mainland of China (the Mainland) (7.9%). On the other hand, the total export volume to the USA (-7.1%), Taiwan (-20.6%) and India (-22.8%) decreased.

     Over the same period of comparison, the total export prices to the USA (5.4%), the Mainland (3.9%), Vietnam (2.7%) and Taiwan (2.7%) increased. On the other hand, the total export prices to India decreased by 2.1%.

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

     Comparing September 2024 with September 2023, declines were recorded for the import volume from Singapore (-5.2%) and the Mainland (-1.1%). On the other hand, the import volume from Korea (8.3%), Japan (8.6%) and Taiwan (12.6%) increased.

     Over the same period of comparison, the import prices from all main suppliers increased: Korea (5.3%), Singapore (3.8%), the Mainland (2.3%), Taiwan (2.0%) and Japan (1.1%).

Further information

     Details of the above statistics are published in the September 2024 issue of “Hong Kong Merchandise Trade Index Numbers”. Users can browse and download the report at the website of the C&SD (www.censtatd.gov.hk/en/EIndexbySubject.html?pcode=B1020006&scode=230).

     Enquiries on merchandise trade indices may be directed to the Trade Analysis Section of the C&SD (Tel: 2582 4918). read more

     The Chief Executive announced in the 2024 Policy Address to establish the Working Group on Developing Low-altitude Economy (the Working Group). The Deputy Financial Secretary, Mr Michael Wong, convened the first meeting as the Head of the Working Group today (November 12).
      
     In the meeting, the Working Group discussed the overall strategies and work plan for developing the low-altitude economy (LAE). The relevant work directions are as follows:
 

• Regulatory Sandbox (Sandbox): the Government will take forward Sandbox pilot projects progressively, starting from early next year, in collaboration with industry and partner organisations. The first phase is expected to mainly cover drone deliveries, with restrictions on “flying beyond visual line of sight” to be relaxed. The scope of low-altitude flying applications will be expanded and enriched progressively;

 

• Enhancements to legislation: the Government will amend the relevant existing civil aviation legislation by making reference to the legislation and standards on the Mainland and other areas, having full regard to the current and long-term development need. This includes reviewing the regulatory regime applicable to larger-sized unmanned aircraft (i.e. those weighing more than 25 kilograms). The plan is to submit the proposal to the Legislative Council in the first half of 2025;

 

• Study and plan for low-altitude infrastructure: the Government will embark on technical studies and planning for low-altitude infrastructure, including take-off/landing points, communication networks, air route networks, low-altitude surveillance and management systems; and 

 

• Greater Bay Area (GBA) low-altitude cross-boundary corridor: the Government will promote an interface with the Mainland to facilitate cross-boundary low-altitude flying activities within the GBA.

     Mr Wong said, “The LAE will bring new opportunities to Hong Kong and promote the development of the economy and various industries. Adopting a forward-thinking mindset and from the perspective of a facilitator, the Working Group will enable the simulation of diversified scenarios, multiple air routes and overarching low-altitude airspace management through the Sandbox pilot projects. Operational data and experience accumulated will guide our work on different fronts including regulations, infrastructure and applications. We will make good use of market forces and actively communicate and co-operate with the Mainland to jointly promote the development of the LAE.”
      
     In today’s meeting, the Working Group has also formulated the details of the Sandbox pilot projects, including eligibility and procedures for application, as well as factors for evaluating and prioritising applications. The Transport and Logistics Bureau will carry out the Sandbox pilot projects by batches. The first batch will be open for applications starting from tomorrow (November 13) with the deadline on December 31 this year. Relevant details have been uploaded to the website of the Transport and Logistics Bureau (www.tlb.gov.hk/eng/highlights/transport/low-altitude.html).
      
     The Secretary for Transport and Logistics is the Deputy Head of the Working Group. Other members include the Secretary for Commerce and Economic Development; the Secretary for Culture, Sports and Tourism; the Secretary for Development; the Secretary for Innovation, Technology and Industry; the Secretary for Security and other relevant Heads of Departments.

     In addition, a Project Facilitation Task Force (the Task Force) will be established under the Working Group, comprising members from relevant government technical departments. The Task Force is responsible for taking forward technical matters for the development of the LAE. The Working Group also agreed to appoint the Hong Kong Productivity Council as technical partner, whereas the Hong Kong Science and Technology Parks Corporation and the Hong Kong Cyberport Management Company Limited will be the venue partners to provide suitable places and supporting facilities for pilot projects.
      
     The terms of reference of the Working Group, as well as the membership of the Working Group and the Task Force, are set out in the Annex. read more

     The effective exchange rate index for the Hong Kong dollar on Tuesday, November 12, 2024 is 106.3 (up 0.5 against yesterday’s index). read more

     In response to the Japanese Government’s plan to discharge nuclear-contaminated water at the Fukushima Nuclear Power Station, the Director of Food and Environmental Hygiene issued a Food Safety Order which prohibits all aquatic products, sea salt and seaweeds originating from the 10 metropolis/prefectures, namely Tokyo, Fukushima, Ibaraki, Miyagi, Chiba, Gunma, Tochigi, Niigata, Nagano and Saitama, from being imported into and supplied in Hong Kong.
 
     For other Japanese aquatic products, sea salt and seaweeds that are not prohibited from being imported into Hong Kong, the Centre for Food Safety (CFS) of the Food and Environmental Hygiene Department will conduct comprehensive radiological tests to verify that the radiation levels of these products do not exceed the guideline levels before they are allowed to be supplied in the market.
 
     As the discharge of nuclear-contaminated water is unprecedented and will continue for 30 years or more, the Government will closely monitor and step up the testing arrangements. Should anomalies be detected, the Government does not preclude further tightening the scope of the import ban.
 
     From noon on November 11 to noon today (November 12), the CFS conducted tests on the radiological levels of 214 food samples imported from Japan, which were of the “aquatic and related products, seaweeds and sea salt” category. No sample was found to have exceeded the safety limit. Details can be found on the CFS’s thematic website titled “Control Measures on Foods Imported from Japan” (www.cfs.gov.hk/english/programme/programme_rafs/programme_rafs_fc_01_30_Nuclear_Event_and_Food_Safety.html).

     In parallel, the Agriculture, Fisheries and Conservation Department (AFCD) has also tested 50 samples of local catch for radiological levels. All the samples passed the tests. Details can be found on the AFCD’s website (www.afcd.gov.hk/english/fisheries/Radiological_testing/Radiological_Test.html).
 
     The Hong Kong Observatory (HKO) has also enhanced the environmental monitoring of the local waters. No anomaly has been detected so far. For details, please refer to the HKO’s website
(www.hko.gov.hk/en/radiation/monitoring/seawater.html).
 
     From August 24, 2023, to noon today, the CFS and the AFCD have conducted tests on the radiological levels of 99 697 samples of food imported from Japan (including 63 733 samples of aquatic and related products, seaweeds and sea salt) and 22 212 samples of local catch respectively. All the samples passed the tests. read more

     The Centre for Food Safety (CFS) of the Food and Environmental Hygiene Department announced today (November 12) that in view of a notification from the Ministry of Agriculture, Forestry and Fisheries of Japan about an outb… read more