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ECONOMY | Tony Chua, Hong Kong
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August domestic exports plunge by 24.9%

Yet compared with the first eight months of 2011, the volume of total goods exports up 5.5% while the volume of goods imports rose 7.1%.

The volume of Hong Kong’s total goods exports recorded a year-on-year fall of 1.9% in August, as re-exports of goods dropped 1.4% and domestic exports fell 24.9%, the Census & Statistics Department says in its report.

The volume of goods imports rose 6.3% during the same period.

Comparing the first eight months this year with the same period in 2010, the volume of goods re-exports increased 6%, whereas that of domestic exports fell 14.8%. Taken together, the volume of total goods exports increased 5.5% while the volume of goods imports rose 7.1%.

Comparing the three-month period ending August with the preceding three months on a seasonally adjusted basis, the volume of total goods exports dropped 1.2%. Within this total, the volume of re-exports fell 0.8%, while that of domestic exports fell 19.6%. The volume of goods imports increased 1.7%.

Comparing August with the same month last year, the prices of goods re-exports rose 9.1%, while that of domestic exports increased 7.1%. Taken together, the prices of total goods exports rose 9.1%. Concurrently, the prices of goods imports rose 9.1%.

As regards price changes in the first eight months this year over the same period in 2010, the prices of goods re-exports rose 8.3%, while those of domestic exports rose 6.7%. Taken together, the prices of total goods exports increased 8.2%, while the prices of goods imports rose 8.5%.

Compared with the same period in 2010, August’s trade index was virtually unchanged, whereas it fell slightly, by 0.3%, in the first eight months of the year.

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