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ECONOMY | Staff Reporter, Hong Kong
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Export volume down 1.2% in August

August 2020 statistics showed a decrease by 1.2% and 4.5%, respectively.

The volume of Hong Kong's total exports and imports of goods decreased by 1.2% and 4.5% in August 2020, respectively.

Comparing the first eight months of 2020 with the same period in 2019, the volume of Hong Kong’s total exports and imports of goods decreased by 5% and 7.2%.

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

Between August 2020 and August 2019, the prices of total exports of goods and imports of goods decreased by 0.9% and 1.3%.

As regards price changes in the first eight months of 2020 over the same period in 2019, the prices of total exports of goods and imports of goods both decreased by 0.8%.

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 2019, the index increased by 0.4% in August 2020, whereas it remained virtually unchanged in the first eight months of 2020.

Comparing August 2020 with August 2019, double-digit declines were recorded for the total export volume to Japan (-16.8%) and the USA (-13.4%). Concurrently, the total export volume to the mainland of China (the Mainland) (-0.9%) also decreased. On the other hand, the total export volume to Taiwan (3.5%) and India (17.5%) increased.
 

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