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 2006, the index increased by 0.3% in June 2007 and 0.1% in the first half of 2007.
In June 2007, double-digit growth was recorded for the total export volume to the mainland of China (the Mainland) (+16.7%) and Germany (+14.4%) over June 2006. Concurrently, the total export volume to Japan increased by 6.0%, whereas those to USA and the United Kingdom decreased by 1.2% and 6.1% respectively.
Comparing June 2007 with June 2006, the total export prices to the United Kingdom, the Mainland, USA and Japan increased by 2.6%, 2.2%, 1.3% and 0.9% respectively. On the other hand, the total export price to Germany remained virtually unchanged.
In June 2007, the import volume from Singapore increased significantly, by 27.4%, over June 2006. Double-digit growth was also recorded for the import volume from the Mainland (+16.4%) and USA (+15.9%) over the same period of comparison. Concurrently, the import volume from Taiwan and Japan increased by 9.3% and 8.6% respectively.
Comparing June 2007 with June 2006, the import prices from the Mainland, Taiwan and Japan increased by 2.1%, 1.8% and 0.1% respectively. On the other hand, the import prices from USA and Singapore decreased by 0.1% and 3.1% respectively.
Census and Statistics Department
marketing@alchempro.com
