Further to the external merchandise trade statistics in value terms for December 2015 released earlier on, the Census and Statistics Department (C&SD) released today (February 18) the volume and price statistics of external merchandise trade for that month.

In December 2015, the volume of Hong Kong's re-exports of goods increased by 1.2% over December 2014, whereas that of domestic exports decreased by 3.7%. Taken together, the volume of total exports of goods increased by 1.2%. On the other hand, the volume of imports of goods decreased by 2.0%.

Comparing 2015 with 2014, the volume of Hong Kong's re-exports of goods decreased by 1.6%, while that of domestic exports decreased by 12.8%. Taken together, the volume of total exports of goods decreased by 1.7%. Concurrently, the volume of imports of goods decreased by 3.2%.

Comparing the fourth quarter of 2015 with the preceding quarter on a seasonally adjusted basis, the volume of total exports of goods increased by 1.1%. Within this total, the volume of re-exports increased by 1.1%, whereas that of domestic exports decreased by 0.4%. Concurrently, the volume of imports of goods increased by 0.9%.

Changes in volume of external merchandise trade are derived from changes in external merchandise trade value with the effect of price changes discounted.

Comparing December 2015 with December 2014, the prices of re-exports of goods decreased by 2.3%, while those of domestic exports decreased by 3.5%. Taken together, the prices of total exports of goods decreased by 2.3%. Concurrently, the prices of imports of goods decreased by 2.3%.

As regards price changes in 2015 over 2014, the prices of re-exports of goods increased slightly, by 0.1%, whereas those of domestic exports decreased by 3.0%. Taken together, the prices of total exports of goods increased marginally, by 0.1%. On the other hand, the prices of imports of goods decreased by 0.4%.

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 2014, the index decreased slightly, by 0.1% in December 2015, whereas it increased by 0.5% in 2015 as a whole.