Macau, China, 03 May – Macau’s exports in the first quarter of this year rose 36.4 percent year on year to US$620.6 million with textile products posting growth of over 40 percent, officials said.
Textile exports, despite accounting for 76.1 percent of total sales, over the last few months have fallen although they saw a 42.6 percent increase in the first quarter.
Macau’s export market is concentrated heavily on the United States and the European Union which together account for 68.2 percent of total exports. The US market absorbed 51.1 percent of total sales, or 52.3 percent more than in the same quarter of 2005, while those to the European Union accounted for 17.1 percent of sales, which represents growth of 77.6 percent.
In the same period Macau imported products to a value of US$1 billion, a 28.3 percent increase on the first three months of 2005.
With the newly released figures, Macau’s balance of trade deficit stood at US$379.9 million at the end of March although the export to import ratio rose from 58.4 percent in the first quarter of 2005 to 62.1 percent in the same period of 2006. (macauhub)