Hong Kong Economic and Trade Office, USA
Hong Kong
News Release



Volume and price statistics of external merchandise trade in June 2020

 



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August 13, 2020 - Further to the external merchandise trade statistics in value terms for June 2020 released earlier on, the Census and Statistics Department (C&SD) released today the volume and price statistics of external merchandise trade for that month.

In June 2020, the volume of Hong Kong’s total exports of goods and imports of goods decreased by 0.6% and 6.3% respectively over June 2019.

Comparing the first half of 2020 with the same period in 2019, the volume of Hong Kong’s total exports of goods and imports of goods decreased by 6.2% and 8.5% respectively.

Comparing the second quarter of 2020 with the preceding quarter on a seasonally adjusted basis, the volume of total exports of goods and imports of goods increased by 5.5% and 0.9% 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 2020 with June 2019, the prices of total exports of goods and imports of goods both decreased by 0.8%.

As regards price changes in the first half of 2020 over the same period in 2019, the prices of total exports of goods and imports of goods decreased by 0.8% and 0.7% 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 2019, the index increased by 0.1% in June 2020, whereas it decreased by 0.1% in the first half of 2020.

Comparing June 2020 with June 2019, double-digit declines were recorded for the total export volume to India (-36.1%), the USA (-18.2%) and Japan (-16.3%). On the other hand, the total export volume to the mainland of China (the Mainland) (8.3%) and Taiwan (22.2%) increased.

Over the same period of comparison, the total export prices to the USA (-2.7%), India (-2.4%), Japan (-1.9%) and Taiwan (-0.3%) decreased. On the other hand, the total export prices to the Mainland increased by 0.5%.

Comparing June 2020 with June 2019, a double-digit decline of 11.2% was recorded for the import volume from Japan. Concurrently, the import volume from Korea (-6.7%) and the Mainland (-4.9%) also decreased. On the other hand, the import volume from Singapore (3.6%) and Taiwan (17.9%) increased.

Over the same period of comparison, the import prices from Singapore (-5.4%), Taiwan (-2.7%), Korea (-2.5%) and the Mainland (-0.9%) decreased. On the other hand, the import prices from Japan increased by 1.6%.


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