The Harmonized System is mainly used for trade declaration purpose while the Standard International Trade Classification system Revision 3 is used for statistical reporting. Movement of exempted articles, gold, and species are not included. However, imports and exports of gold and species are separately recorded and published. Valuation of goods is based on the transaction values provided by importers and exporters in the trade declarations. Imports are valued on a c.i.f. basis while domestic exports and re-exports are valued on a f.o.b. basis.
Calendar month is used as the standard reference month for monthly data.
The declarations submitted by importers and exporters are matched against cargo manifests to ascertain there is no omission of declaration. It is a legal requirement for shipping companies, airline companies, transport companies or their agents to submit to the Government a manifest in respect of the cargoes carried on every ship, airplane or other transport vehicle that enters or leaves Hong Kong. Trade statistics analysed by the Hong Kong Harmonized System are also available and are provided to users of trade statistics upon request.