ECONOMY | Staff Reporter, Singapore

Export volume up 6.2% in November 2020

Export volumes to Taiwan recorded a double-digit increase during the month.

The volume of total exports of goods rose 6.2% in November 2020 compared to the same month in 2019, according to data from the Census and Statistics Department (C&SD). The volume of imports also increased by 5.2% over the same period.

Meanwhile, the prices of total exports of goods and imports of goods both decreased by 0.2% each.

For the first 11 months of 2020, the volume of Hong Kong’s total exports of goods and imports of goods dropped by 2% YoY and 4.1% YoY, respectively, compared to 2019. Prices of exports and imports also registered a 0.7% YoY and 0.8% YoY decrease compared to 11M 2019.

By market, a double-digit increase of 16.7% YoY was recorded for the total export volume to Taiwan in November. Concurrently, the total export volume to the Mainland China (8.6%), Japan (2.5%), and the United State (2.4%) also increased.

In contrast, the total export volume to India decreased by 14.7%.

Meanwhile, total export prices to Japan (-0.1%), the United States (-0.1%), and Mainland China (-0.1%) decreased, whilst total export prices to India (0.8%) and Taiwan (3.4%) rose.

Volume-wise, double-digit increases were recorded for the import volume from Korea (18.2%) and Taiwan (17.6%). The import volume from the mainland China (5.9%) and Singapore (5.2%) also increased.

Import volume from Japan decreased by 0.4% YoY.

Import prices from Korea (0.2%), Japan (0.8%), Taiwan (1.0%), and Singapore (1.8%) increased, whilst import prices from mainland China decreased by 1.5%.

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