June 2024 External Merchandise Trade Statistics Revealed: Volume and Price Analysis

Volume and price statistics of external merchandise trade in June 2024

Further to the external merchandise trade statistics in value terms for June 2024 released earlier on, the Census and Statistics Department (C&SD) released today (August 13) the volume and price statistics of external merchandise trade for that month.

In June 2024, the volume of Hong Kong's total exports of goods and imports of goods increased by 6.8% and 5.6% respectively over June 2023.

Comparing the first half of 2024 with the same period in 2023, the volume of Hong Kong's total exports of goods and imports of goods increased by 7.6% and 3.7% respectively.

Comparing the second quarter of 2024 with the preceding quarter on a seasonally adjusted basis, the volume of total exports of goods and imports of goods increased by 1.7% and 0.4% respectively.

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

Comparing June 2024 with June 2023, the prices of total exports of goods and imports of goods increased by 3.6% and 2.7% respectively.

As regards price changes in the first half of 2024 over the same period in 2023, the prices of total exports of goods and imports of goods increased by 4.2% and 3.8% respectively.

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 2023, the index increased by 0.9% in June 2024 and 0.4% in the first half of 2024.

Changes in the unit value and volume of total exports of goods by main destination are shown in Table 1.

Comparing June 2024 with June 2023, increases were recorded for the total export volume to the USA (32.9%), Vietnam (31.0%), Taiwan (28.8%) and the mainland of China (the Mainland) (6.8%). On the other hand, the total export volume to India decreased by 21.0%.

Over the same period of comparison, the total export prices to the USA (6.8%), the Mainland (4.6%), Taiwan (4.1%) and Vietnam (1.0%) increased. On the other hand, the total export prices to India decreased by 2.6%.

Changes in the unit value and volume of imports of goods by main supplier are shown in Table 2.

Comparing June 2024 with June 2023, increases were recorded for the import volume from Korea (29.7%), Singapore (10.4%), the Mainland (8.5%) and Taiwan (5.1%). On the other hand, the import volume from Japan decreased by 6.0%.

Over the same period of comparison, the import prices from all main suppliers increased: Korea (6.1%), Singapore (4.3%), the Mainland (2.9%), Taiwan (1.0%) and Japan (1.0%).

Further information

Details of the above statistics are published in the June 2024 issue of "Hong Kong Merchandise Trade Index Numbers". Users can browse and download the report at the website of the C&SD (www.censtatd.gov.hk/en/EIndexbySubject.html?pcode=B1020006&scode=230).

Enquiries on merchandise trade indices may be directed to the Trade Analysis Section of the C&SD (Tel: 2582 4918).

Source: AI-generated images

Extension of opening hours and special traffic arrangements of FEHD's columbaria during Chung Yeung Festival

A spokesman for the Food and Environmental Hygiene Department (FEHD) today (September 13) said that the opening hours of columbaria under the FEHD will be extended to 7am to 7pm during the Chung Yeung Festival period (i.e. from September 21 to October 20) to assist grave sweepers as well as toalleviate crowd conditions. The department appealed to grave sweepers to avoid grave-sweeping activities during the peak period on the day of the Chung Yeung Festival and pay tribute to ancestors over a wider period before and after the festival.

The spokesman reminded grave sweepers to pay attention to special traffic and transport arrangements that will be implemented during the Chung Yeung Festival. Access to cemeteries and columbaria of the FEHD will be closed to all vehicles while the special traffic and transport arrangements are in operation, except for those with permission. For details of the special traffic and transport arrangements in the vicinity of cemeteries and crematoria, please browse the Transport Department website (www.td.gov.hk). In addition, the escalator adjacent to Cape Collinson-San Ha Columbarium has been opened for public access.

The FEHD expects that there will be a large number of visitors burning paper offerings in joss paper burners (JPBs) at the Tsang Tsui Columbarium and Cape Collinson-San Ha Columbarium during the peak sweeping period of the Chung Yeung Festival. No walk-in queuing for the JPBs will be allowed at both columbaria on Saturdays, Sundays and public holidays during the above-mentioned Chung Yeung Festival period. Members of the public must make bookings via the FEHD website (www.fehd.gov.hk/english/cc/notice.html) or obtain queue tickets in the columbaria. For details of the JPB arrangements, please browse the FEHD website.

Green burial allows the environment to thrive and love to endure. Members of the public can register their wishes for a green burial through the Green Burial Central Register (www.greenburial.gov.hk). The registration is simple and free of charge. Members of the public can also pay tribute to their loved ones through the Internet Memorial Service webpage (www.memorial.gov.hk) and its mobile application. During the Chung Yeung Festival, a Green Burial Exhibition will be held on the G/F of Tsang Tsui Columbarium. All are welcome to visit free of charge. Throughout the exhibition period, a food kiosk will be set up to provide food and beverages for sale.

Source: AI-generated images