=
14
The terms of trade index, defined as the ratio of total export price index to import price index, decreased by 2.7% in January 1995 over January 1994.
Caution should be exercised in interpreting the changes in the volume of trade for a single month at the beginning of each year which may be affected by the timing of the Lunar New Year holidays. It is more meaningful to make comparisons over a longer period.
Comparing the three months ending January 1995 with the three months ending January 1994, the volume of domestic exports and re-exports increased by 4.5% and 15% respectively. The volume of imports grew by 18%.
The changes in the value, unit value and volume of re-exports by end-use- category are shown in Table 1.
Comparing January 1995 with January 1994, the volume of re-exports of all end-use categories recorded increases of various magnitudes: fuels (+61%), foodstuffs (+57%), capital goods (+29%), raw materials and semi-manufactures (+22%); and consumer goods (+19%).
Over the same period of comparison, increases in the prices of re-exports were noted of all end-use categories: raw materials and semi-manufactures (+7.1%), fuels (+3.7%), foodstuffs (+2.7%), consumer goods (+1.4%) and capital goods (+0.6%).
The changes in the value, unit value and volume of domestic exports by principal commodity group are shown in Table 2.
Comparing January 1995 with January 1994, commodity groups which recorded increases in volume of domestic exports included metal ores and scrap (+50%); electronic components (+48%); and watches and clocks (+33%).
The volume of domestic exports of radios of all kinds and footwear decreased by 82% and 64% respectively.
Commodity groups which recorded increases in domestic export prices included textile made-ups and related articles (+16%); and metal ores and scrap (+4.9%).
The domestic export price of travel goods, handbags and similar articles decreased by 3.1%.