Higher import prices put dent in trade
HONG KONG'S terms of trade worsened by 2.3 per cent in the first half of this year compared with a year earlier.
The change came as import prices rose more steeply than export prices and as volumes followed the same pattern.
Taking re-exports and domestic exports together, the volume of total exports increased by 15 per cent.
Imports increased by 17 per cent in volume.
Prices of re-exports rose 3.7 per cent and those of domestic exports increased 2.4 per cent.
Import prices went up by 5.9 per cent.
Comparing June this year with that of 1994, the volume of re-exports of all end-use categories recorded increases.
Volume of fuel rose 65 per cent, capital goods 23 per cent, foodstuffs 18 per cent, raw materials and semi-manufactured items 18 per cent and consumer goods 5.8 per cent.
Increases in the prices of re-exports were noted in all end-use categories.
Export prices of raw materials and semi-manufactured items rose 10 per cent.
Consumer goods prices rose by 2.8 per cent, fuels 2.8 per cent, foodstuffs 1.7 per cent, and capital goods 0.7 per cent.
The import volume of foodstuffs increased by 16 per cent. Significant increases in import volume were noted in sugar, meat and meat preparations.
Decreases in import volume were noted of live poultry, tea and coffee.
The import volume of consumer goods increased 3.4 per cent.
The import volume of raw materials and semi-manufactured goods rose 18 per cent in the period.