The volume of re-exports in April rose 21.3%, compared with the same month last year, while that of domestic exports rose 6.4%. Taken together, the volume of total exports rose 20.4%. Concurrently, the volume of imports also increased markedly, by 23%.

Releasing the volume and price statistics of external merchandise trade for April, the Census & Statistics Department said when comparing the first four months of 2004 and 2003, the volume of re-exports rose 17.3%, and that of domestic exports by 2.1%. Taken together, the volume of total exports grew 16.3%. Concurrently, imports rose 17.5% in volume.

Comparing the three-month period ending April with the preceding three months on a seasonally adjusted basis, the volume of total exports rose 7.8%. Within this, the volume of re-exports rose 8.1%, and that of domestic exports by 3.3%. Concurrently, the volume of imports rose 5.3%.

Prices of total exports remain unchanged

Comparing April this year and last year, re-export prices fell by 0.1%, while those of domestic exports rose 0.3%. Taken together, the prices of total exports were virtually unchanged. However, the prices of imports rose 1.7%.

On price changes in the first four months of 2004 over the same period in 2003, re-export prices fell 0.6%, and those of domestic exports by 0.4%. Taken together, the prices of total exports were down 0.6%. But the prices of imports of goods rose 1%.

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 2003, the index recorded falls of 1.7% in April and 1.5% in the first four months of 2004.

Re-export of consumer goods & fuels up

The re-export volume of consumer goods rose 11.2% in April over the same month last year, with notable increases recorded for radios, TVs, gramophones, records, tape recorders and amplifiers, and jewellery, precious stones and related articles.

Over the same periods of comparison, the re-export volume of fuels rose significantly by 27.3%, while that of foodstuffs fell 16.3%.

The volume of domestic exports of electronic components rose 46.7% and jewellery, precious stones and related articles by 38.6%. But the volume of domestic exports of office machines and equipment fell 12.2%, and textiles by 9.3%.

The prices of domestic exports of 'metal manufactures' rose 11.9% and jewellery, precious stones and related articles by 2.4%. But the price of domestic exports of office machines and equipment fell 6.7% and scientific, medical, optical, measuring, and controlling instruments and apparatus by 2.4%.

Marked increases in electronic parts imports

The import volume of raw materials and 'semi-manufactures' rose 30%. Significant increases in import volume were recorded for electronic components and leather and dressed furskins.

The import volume of capital goods rose 24.2%. Within this, notable increases were recorded in the import volume of telecommunications and transport equipment. But a decrease in import volume was noted for industrial machinery.

The import volume of consumer goods rose 13.3%. Notable increases in import volume were recorded for jewellery, precious stones and related articles and radios, TVs, gramophones, records, tape recorders and amplifiers. But falls in import volume were noted for cameras, flashlight apparatus and supplies for photography and miscellaneous made-up articles of textile materials.

Over the same periods of comparison, the import volume of fuels rose sharply, by 42.2%, and that of foodstuff by 7%.

The import prices of fuels rose 14.2%, raw materials and 'semi-manufactures' by 4.7% and foodstuff by 3.5%. But the import prices of capital goods fell 1.5% and consumer goods by 0.1%.

Further details

Details of these statistics are published in the April 2004 issue of the HK Merchandise Trade Index Numbers, which is available, in both hardcopy and softcopy, for $15 and $11.30.

It can also be purchased online at the Statistical Bookstore with a special 25% discount until July 31, or by returning a completed order form which can be downloaded from the department's website.

Purchase in person can be made at 19/F, Wan Chai Tower, 12 Harbour Road, Wan Chai (2582 3025). For enquiries on trade indices, call 2582 4918.