External merchandise trade volume rises double digits in August

Total exports and imports of goods increased by 18.6% and 21%, respectively.

The volume of Hong Kong’s external merchandise trade rose to double digits in August 2021.

Compared to August 2020, Hong Kong's total exports and imports of goods increased by 18.6% and 21.0%, respectively.

Over the same comparison period, double-digit increases were also recorded for Hong Kong’s total export to countries like Taiwan (36.3%), Japan (26.8%), the mainland of China (the Mainland) (19.1%), and the USA (16.3%).

For import volume, Korea recorded the highest increase (32.4%), followed by Singapore (24.3%), the Mainland (22.9%), Japan (17.1%), and Taiwan (13.5%).

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

Prices for total exports and imports likewise saw growth for the month of August.

The prices of total exports and imports of goods climbed by 6.1% and 6.0% respectively over August 2020.

A price increase was also seen in countries where HK’s import and export volume soared.
 
Countries, where export prices increased, were Taiwan (9.6%), the Mainland (8.9%), India (4.6%), and Japan (0.5%) increased. 

Meanwhile, import prices rose in Taiwan (16.4%), Korea (13.3%), Singapore (11.0%), the Mainland (4.4%), and Japan (1.0%).

The trade index, or the “ratio of the price index of total exports of goods to that of imports of goods,” also bounced by 0.1% compared with the same period in 2020.