Total exports volume up 5.4% in February

Exports to Vietnam, Taiwan and China saw double-digit increases.

The volume of Hong Kong’s total exports of goods inched up 5.4% YoY in February alone, according to the Census and Statistics Department (C&SD).

Meanwhile, total volume of exported goods dipped by 11.8% YoY in the January-February period. Comparing the three-month period ending February with the preceding three months, the volume of total exports of goods fell 7.5% YoY.

Double-digit increases were recorded for the total export volume to Vietnam with 48.1% YoY, Taiwan with 34.8%, India with 29.2%, the mainland of China with 13.4% in February YoY. Meanwhile, export volume to the US decreased by 13.5% over the same period.

On the other hand, total export prices decreased to India by 4.3%, 2.3% to Vietnam, 1.4% in the US, and 0.1% in the Mainland, whilst the total export prices to Taiwan increased by 2.7%.

Meanwhile, the volume of Hong Kong’s total imports of goods slipped 9.1%. Likewise, imports declined 5.4% YoY in the three-month period December-February.

On the other hand, the volume of Hong Kong's total imports of goods increased by 0.9% YoY in February.

Double-digit increases were recorded for the import volume from Taiwan with 45.1%, Korea with 34.4%, Japan with 12.1%, and Singapore with 11.9%, whilst the import volume from the Mainland decreased by 6.7% YoY in February

Over the same period, the import prices decreased in Taiwan by 3.6%, Korea by 2.1%, the Mainland by 1.9%, and Singapore by 0.1%. On the other hand, the import prices from Japan increased by 0.8%.

The terms of trade index remained unchanged in February, whilst it decreased by 0.2% YoY in the first two months of 2020. As regards price changes in the first two months of 2020 YoY, the prices of total exports of goods and imports of goods decreased by 0.2% and 0.1% respectively, whilst the prices of total exports of goods and imports of goods both decreased by 1.0% YoY in February.