MIL-OSI Asia-Pacific: Volume and price statistics of external merchandise trade in June 2018

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Source: Hong Kong Government special administrative region

     Further to the external merchandise trade statistics in value terms for June 2018 released earlier on, the Census and Statistics Department (C&SD) released today (August 9) the volume and price statistics of external merchandise trade for that month.     In June 2018, the volume of Hong Kong’s total exports of goods increased by 0.7% over June 2017. Concurrently, the volume of imports of goods increased by 1.7%.     Comparing the first half of 2018 with the same period in 2017, the volume of Hong Kong’s total exports of goods increased by 6.7%. Concurrently, the volume of imports of goods increased by 7.9%.     Comparing the second quarter of 2018 with the preceding quarter on a seasonally adjusted basis, the volume of total exports of goods increased by 0.8%. 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 June 2018 with June 2017, the prices of total exports of goods increased by 2.7%. Concurrently, the prices of imports of goods increased by 2.9%.     As regards price changes in the first half 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 decreased by 0.2% and 0.1% in June 2018 and in the first half of 2018 respectively.     Changes in the unit value and volume of total exports of goods by main destination are shown in Table 1.     Comparing June 2018 with June 2017, the total export volume to Vietnam increased significantly, by 20.6%. Concurrently, the total export volume to the USA and Japan increased by 6.6% and 2.5% respectively. On the other hand, the total export volume to the mainland of China (the Mainland) and India decreased by 0.7% and 21.8% respectively.     Over the same period of comparison, the total export prices to the Mainland, the USA and Japan increased by 3.6%, 3.4% and 2.8% respectively. On the other hand, the total export prices to Vietnam and India decreased by 0.2% and 4.3% respectively.     Changes in the unit value and volume of imports of goods by main supplier are shown in Table 2.     Comparing June 2018 with June 2017, the import volume from Korea and Singapore increased by 10.1% and 9.1% respectively. On the other hand, the import volume from Taiwan, Japan and the Mainland decreased by 0.6%, 1.3% and 1.7% respectively.     Over the same period of comparison, the import prices from all main suppliers increased: Korea (+6.9%), the Mainland (+3.0%), Japan (+2.9%), Singapore (+2.6%) and Taiwan (+1.1%).     Details of the above statistics are published in the June 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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