Trade takes another beating

Hong Kong’s domestic export volume from January to August plunged 18.3% year-on-year.

The Census & Statistics Department also said goods re-exports fell 3.8% during the same period. Month-on-month results also reflected the hit that merchandise trade is taking from weak export markets.

The volume of total goods exports fell 0.1% in August while the volume of goods imports fell 0.5%. In August, the volume of goods re-exports rose 0.1% over August 2011 while domestic exports fell 9.6%.

Taken together, the volume of total goods exports fell 4.1% while the volume of goods imports fell 2.5% in August 2012 compared to August 2011.

Comparing August 2012 to August 2011, the value of goods re-exports rose 1.3% while that of domestic exports rose 2.1%. Taken together, the prices of total goods exports rose 1.3%, while the prices of goods imports rose 1.8%.

As regards price changes in the first eight months of 2012 over the same period in 2011, the value of goods re-exports rose 4.3%, while those of domestic exports rose 2.6%. Taken together, the prices of total goods exports rose 4.3%, while goods imports prices rose 3.9%.