Hong Kong – Volume and price statistics of external merchandise trade in September 2021

Volume and price statistics of external merchandise trade in September 2021

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     Further to the external merchandise trade statistics in value terms for September 2021 released earlier on, the Census and Statistics Department (C&SD) released today (November 11) the volume and price statistics of external merchandise trade for that month.

     In September 2021, the volume of Hong Kong’s total exports of goods and imports of goods increased by 9.3% and 15.0% respectively over September 2020.

     Comparing the first nine months of 2021 with the same period in 2020, the volume of Hong Kong’s total exports of goods and imports of goods increased by 22.3% and 21.5% respectively.

     Comparing the third quarter of 2021 with the preceding quarter on a seasonally adjusted basis, the volume of total exports of goods decreased by 0.7%, while the volume of imports of goods increased by 0.6%.

     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 2021 with September 2020, the prices of total exports of goods and imports of goods increased by 6.6% and 8.0% respectively.

     As regards price changes in the first nine months of 2021 over the same period in 2020, the prices of total exports of goods and imports of goods increased by 4.1% and 4.2% 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 2020, the index decreased by 1.3% in September 2021 and 0.1% in the first nine months of 2021.

     Changes in the unit value and volume of total exports of goods by main destination are shown in Table 1.

     Comparing September 2021 with September 2020, double-digit increases were recorded for the total export volume to Taiwan (38.6%), India (23.1%), the USA (13.1%) and Japan (12.0%). Concurrently, the total export volume to the mainland of China (the Mainland) also increased by 1.3%.

     Over the same period of comparison, the total export prices to Taiwan (10.6%), the Mainland (9.4%), India (4.2%) and Japan (0.8%) increased. On the other hand, the total export prices to the USA decreased by 0.1%.

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

     Comparing September 2021 with September 2020, double-digit increases were recorded for the import volume from the Mainland (20.2%), Korea (19.7%), Singapore (11.7%) and Japan (10.9%). Concurrently, the import volume from Taiwan (5.6%) also increased.  

     Over the same period of comparison, the import prices from all main suppliers increased: Taiwan (17.8%), Korea (17.3%), Singapore (9.1%), the Mainland (7.4%) and Japan (1.7%).

Further information

     Details of the above statistics are published in the September 2021 issue of “Hong Kong Merchandise Trade Index Numbers”. Users can download the publication 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 (1) of the C&SD (Tel: 2582 4918).

Hong Kong – Volume and price statistics of external merchandise trade in June 2021

Volume and price statistics of external merchandise trade in June 2021

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     Further to the external merchandise trade statistics in value terms for June 2021 released earlier on, the Census and Statistics Department (C&SD) released today (August 12) the volume and price statistics of external merchandise trade for that month.
 
     In June 2021, the volume of Hong Kong’s total exports of goods and imports of goods increased by 26.1% and 25.6% respectively over June 2020.
 
     Comparing the first half of 2021 with the same period in 2020, the volume of Hong Kong’s total exports of goods and imports of goods increased by 26.2% and 23.3% respectively.
 
     Comparing the second quarter of 2021 with the preceding quarter on a seasonally adjusted basis, the volume of total exports of goods and imports of goods decreased by 5.5% and 1.4% respectively.
 
     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 2021 with June 2020, the prices of total exports of goods and imports of goods increased by 5.3% and 5.2% respectively.
 
     As regards price changes in the first half of 2021 over the same period in 2020, the prices of total exports of goods and imports of goods increased by 3.0% and 2.9% 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 2020, the index increased by 0.1% in both June 2021 and the first half of 2021.

     Changes in the unit value and volume of total exports of goods by main destination are shown in Table 1.
 
     Comparing June 2021 with June 2020, double-digit increases were recorded for the total export volume to Taiwan (32.5%), the mainland of China (the Mainland) (26.2%), Japan (22.8%), the USA (21.4%) and India (17.6%).
 
     Over the same period of comparison, the total export prices to Taiwan (8.4%), the Mainland (7.9%), India (4.8%) and Japan (0.1%) increased. On the other hand, the total export prices to the USA decreased by 0.5%.
 
     Changes in the unit value and volume of imports of goods by main supplier are shown in Table 2.
 
     Comparing June 2021 with June 2020, double-digit increases were recorded for the import volume from Korea (40.7%), Singapore (38.6%), the Mainland (27.8%), Taiwan (25.2%) and Japan (18.2%).
 
     Over the same period of comparison, the import prices from all main suppliers increased: Taiwan (12.6%), Singapore (12.4%), Korea (11.3%), the Mainland (3.7%) and Japan (1.2%).
 
Further information
 
     Details of the above statistics are published in the June 2021 issue of “Hong Kong Merchandise Trade Index Numbers”. Users can download the publication 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 (1) of the C&SD (Tel: 2582 4918).

Hong Kong – Volume and Price Statistics of External Merchandise Trade in January 2021

     Further to the external merchandise trade statistics in value terms for January 2021 released earlier on, the Census and Statistics Department (C&SD) released today (March 18) the volume and price statistics of external merchandise trade for that month.
 
     In January 2021, the volume of Hong Kong’s total exports of goods and imports of goods increased by 44.6% and 37.2% respectively over January 2020.
 
     Comparing the three months ending January 2021 with the three months ending January 2020, the volume of Hong Kong’s total exports of goods and imports of goods increased by 18.7% and 17.3% respectively.
 
     Comparing the three-month period ending January 2021 with the preceding three months on a seasonally adjusted basis, the volume of total exports of goods and imports of goods increased by 9.1% and 10.3% respectively.
 
     Changes in volume of external merchandise trade are derived from changes in external merchandise trade value with the effect of price changes discounted.
 
     Comparing January 2021 with January 2020, the prices of total exports of goods decreased by 0.4%, while the prices of imports of goods increased by 0.5%.
 
     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 period in 2020, the index decreased by 1.0% in January 2021.

     Changes in the unit value and volume of total exports of goods by main destination are shown in Table 1.
 
     Comparing January 2021 with January 2020, double-digit increases were recorded for the total export volume to Taiwan (71.4%), Vietnam (67.4%), the mainland of China (the Mainland) (59.3%), the USA (20.9%) and Japan (20.3%).
 
     Over the same period of comparison, the total export prices to Vietnam (-4.1%), Japan (-1.3%), the USA (-0.5%) and the Mainland (-0.2%) decreased. On the other hand, the total export prices to Taiwan increased by 0.8%.
 
     Changes in the unit value and volume of imports of goods by main supplier are shown in Table 2.
 
     Comparing January 2021 with January 2020, double-digit increases were recorded for the import volume from Taiwan (55.0%), the Mainland (43.5%), Japan (37.7%), Korea (33.9%) and Singapore (31.9%).
 
     Over the same period of comparison, the import prices from Korea (5.0%), Taiwan (3.9%), Singapore (1.9%) and Japan (1.2%) increased. On the other hand, the import prices from the Mainland decreased by 2.0%.
 
Further information
 
     Details of the above statistics are published in the January 2021 issue of “Hong Kong Merchandise Trade Index Numbers”. Users can download the publication 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).

Hong Kong – Chain volume measures of Gross Domestic Product by economic activity for the fourth quarter of 2020 and the whole year of 2020

     The Census and Statistics Department (C&SD) released today (March 18) the preliminary figures of chain volume measures of Gross Domestic Product (GDP) by economic activity for the fourth quarter of 2020 and the whole year of 2020.
 
     GDP figures by economic activity show the value of production in respect of individual economic activities. The value of production is measured by net output or value added, which is calculated by deducting intermediate input consumed in the process of production from the gross value of output. Volume measures of GDP by economic activity, expressed in terms of chain volume measures net of the effect of price changes, enable analysis of the output growth profiles of individual economic sectors in real terms.
 
     According to the preliminary figures, overall GDP decreased by 3.0% in real terms in the fourth quarter of 2020 from a year earlier, compared with the 3.6% decrease in the third quarter of 2020. For 2020 as a whole, GDP decreased by 6.1% in real terms from 2019.
 
     Analysed by constituent services sector and on a year-on-year comparison, net output in respect of all the services activities taken together decreased by 4.0% in real terms in the fourth quarter of 2020 from a year earlier, compared with the 5.5% decrease in the third quarter. While the decline in some industries narrowed in the fourth quarter of 2020, industries related to consumption and tourism still faced notable pressures amid the threat of COVID-19 pandemic. For 2020 as a whole, the net output decreased by 6.8% in real terms for all the services sectors taken together.
 
    Net output in the import and export, wholesale and retail trades sector dropped by 6.2% in real terms in the fourth quarter of 2020 from a year earlier, after the decrease of 9.1% in the third quarter. For 2020 as a whole, net output in this sector saw a decrease of 13.3% in real terms.
 
     Net output in the accommodation services (covering hotels, guesthouses, boarding houses and other establishments providing short term accommodation) and food services sector decreased by 32.8% in real terms in the fourth quarter of 2020 from a year earlier, after the fall of 45.2% in the third quarter. For 2020 as a whole, net output in this sector decreased by 43.0% in real terms.
 
     Net output in the transportation, storage, postal and courier services sector decreased by 35.5% in real terms in the fourth quarter of 2020 from a year earlier, following the decline of 41.8% in the third quarter. For 2020 as a whole, net output in this sector recorded a decrease of 39.5% in real terms.
 
     Net output in the real estate, professional and business services sector decreased by 2.7% in real terms in the fourth quarter of 2020 from a year earlier, compared with the decline of 4.1% in the third quarter. For 2020 as a whole, net output in this sector decreased by 4.3% in real terms.
 
     Net output in the public administration, social and personal services sector dropped by 2.0% in real terms in the fourth quarter of 2020 from a year earlier, compared with the 0.8% decrease in the third quarter. For 2020 as a whole, net output in this sector decreased by 2.2% in real terms.
 
     Net output in the information and communications sector increased by 1.7% in real terms in the fourth quarter of 2020 over a year earlier, compared with the growth of 2.1% in the third quarter. For 2020 as a whole, net output in this sector rose by 1.6% in real terms.
 
     Net output in the financing and insurance sector increased by 4.9% in real terms in the fourth quarter of 2020 over a year earlier, compared with the 5.1% rise in the third quarter. For 2020 as a whole, net output in this sector rose by 3.9% in real terms.
 
     As for sectors other than the services sectors, net output in the local manufacturing sector dropped by 6.0% in real terms in the fourth quarter of 2020 from a year earlier, compared with the decrease of 7.4% in the third quarter. For 2020 as a whole, net output in this sector dropped by 5.8% in real terms.
 
     Net output in the electricity, gas and water supply, and waste management sector decreased by 10.6% in real terms in the fourth quarter of 2020 from a year earlier, compared with the decrease of 9.4% in the third quarter. For 2020 as a whole, net output in this sector registered a decrease of 11.5% in real terms.
 
     Net output in the construction sector decreased by 4.9% in real terms in the fourth quarter of 2020 from a year earlier, after the decrease of 10.2% in the third quarter. For 2020 as a whole, net output in this sector decreased by 7.9% in real terms.
 
Further information
 
     The year-on-year percentage changes of GDP by economic activity in real terms from the fourth quarter of 2019 to the fourth quarter of 2020 are shown in Table 1. For enquiries about statistics on GDP by economic activity, please call the National Income Branch (2) of the C&SD at 3903 7005.
 
     Figures of chain volume measures of GDP by economic activity for the fourth quarter of 2020 and the whole year of 2020 are only preliminary at this stage. When more data become available, the preliminary figures will be revised accordingly. More detailed figures can also be found at the Hong Kong Statistics section of the C&SD website (www.censtatd.gov.hk).