Further to the external merchandise trade statistics in value terms for November 2018 released earlier on, the Census and Statistics Department (C&SD) released today (January 17) the volume and price statistics of external merchandise trade for that month.
In November 2018, the volume of Hong Kong's total exports of goods decreased by 2.9% over November 2017. Concurrently, the volume of imports of goods decreased by 1.8%.
Comparing the first eleven months of 2018 with the same period in 2017, the volume of Hong Kong's total exports of goods increased by 6.2%. Concurrently, the volume of imports of goods increased by 7.4%.
Comparing the three-month period ending November 2018 with the preceding three months on a seasonally adjusted basis, the volume of total exports of goods decreased by 1.9%. Concurrently, the volume of imports of goods decreased by 4.2%.
Changes in volume of external merchandise trade are derived from changes in external merchandise trade value with the effect of price changes discounted.
Comparing November 2018 with November 2017, the prices of total exports of goods increased by 2.5%. Concurrently, the prices of imports of goods increased by 2.5%.
As regards price changes in the first eleven 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 2.6%.
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 remained virtually unchanged in November 2018, whereas it decreased by 0.1% in the first eleven months of 2018.
Changes in the unit value and volume of total exports of goods by main destination are shown in Table 1.
Comparing November 2018 with November 2017, a double-digit decline of 26.1% was recorded for the total export volume to India. Concurrently, the total export volume to the mainland of China (the Mainland) and Taiwan decreased by 8.0% and 4.8% respectively. On the other hand, the total export volume to Japan and the USA increased by 1.5% and 4.0% respectively.
Over the same period of comparison, the total export prices to the Mainland, Japan and the USA increased by 3.5%, 3.0% and 1.1% respectively. On the other hand, the total export prices to Taiwan and India decreased by 0.2% and 4.0% respectively.
Changes in the unit value and volume of imports of goods by main supplier are shown in Table 2.
Comparing November 2018 with November 2017, the import volume from Taiwan, Japan and the Mainland decreased by 13.9%, 4.6% and 2.1% respectively. On the other hand, the import volume from the USA and Singapore increased by 5.6% and 14.1% respectively.
Over the same period of comparison, the import prices from Singapore, the Mainland, Japan and the USA increased by 4.0%, 3.4%, 2.7% and 1.3% respectively. On the other hand, the import prices from Taiwan decreased by 0.8%.
Further information
Details of the above statistics are published in the November 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).
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