External merchandise trade volume up double digits in November 2021

Total exports and imports of goods rose by 14.6% YoY and 10.3% YoY, respectively.

Hong Kong’s external merchandise trade volume increased double digits in November 2021, with total exports and imports of goods rising by 14.6% year-on-year (YoY) and 10.3% YoY, respectively.

The Census and Statistics Department (C&SD)  said “changes in the volume of external merchandise trade are derived from changes in external merchandise trade value with the effect of price changes discounted.”

Comparing the volume of external merchandise trade in the first 11 months of 2021 to the same period in 2022, the increase was at 20.6% for exports and 19.1% for imports.

Meanwhile, prices of total exports of goods and imports of goods also increased in November 2021 by 9.5% YoY and 9.2% YoY, respectively.

Amongst the main destinations, Taiwan had the highest YoY increase in total export volume (47.5%), followed by India (42.6%), the USA (31.0%), the mainland of China (the Mainland) (9.4%), and Japan (7.5%).

Export prices likewise rose in five of the abovementioned destinations namely the Mainland (13.6% YoY), Taiwan (10.6% YoY), India (6.2% YoY), the USA (2.3% YoY), and Japan (2.2% YoY).

In terms of total import volume, the Mainland (15.5%) had the highest year-on-year increase, followed by Taiwan (14.1%), Singapore (11.1%), and Japan (4.4%). On the other hand, the import volume from Korea decreased by 0.1%.

Import prices from all main suppliers also increased, led by Taiwan (21.4%), Korea (17.1%), the Mainland (10.1%), Singapore (9.1%) and Japan (2.3%).