HK's re-exports increased 2.3% domestic exports increased 13.1% in Jan

The Census and Statistics Department released volume and price statistics of external merchandise trade for January 2001.In January 2001, the volume of Hong Kong's re-exports of goods increased by 2.3% over a year earlier, while that of domestic exports fell by 13.1%. Taken together, the volume of total exports of goods went up by 0.4%. Concurrently, the volume of imports of goods decreased by 2.9%.Comparing the three-month period ending January 2001 with the preceding three-month period on a seasonally adjusted basis, the volume of total exports of goods had a decrease of 4.2%. Within this total, the volume of re-exports fell by 3.7%, and that of domestic exports by 8.0%. Over the same period of comparison, the volume of imports of goods dropped by 2.5%. The change in volume of external merchandise trade is derived from the change in external merchandise trade value with the effect of price changes discounted.Comparing January 2001 with a year earlier, the prices of re-exports and domestic exports of goods fell by 0.9% and 2.5% respectively. Taken together, the prices of total exports of goods decreased by 1.1%. Over the same period, the prices of imports of goods dropped by 0.8%.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 a year earlier, the index recorded a decrease of 0.3% in January 2001.Caution should be exercised in interpreting the changes in the volume of trade for a single month at the beginning of each year as that may be affected by the timing of the Lunar New Year Holidays. It is thus more meaningful to make comparisons over a longer period.Comparing the three months ending January 2001 with the three months ending January 2000, the volume of re-exports went up by 7.3% while that of domestic exports was down by 9.6%, giving a 5.2% increase for the volume of total exports of goods. Over the same period of comparison, the volume of imports of goods grew by 4.7%. 

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