Macau: Balance of trade deficit continues to increase

2 December 2008

Macau, China, 2 Dec – Macau’s exports between January and October totalled 14.06 billion patacas, or 16.1 percent less than in the same period of 2007, the region’s Statistics and Census Bureau said Monday in Macau.

Imports rose 2.7 percent to 36.30 billion patacas in the same period, which resulted in a balance of trade deficit of 22.24 billion patacas in the first ten months of the year.

As a consequence of that deficit, the rate of coverage of imports by exports fell from 47.4 percent in the first ten months of 2008 to 38.7 percent in the same period of this year.

In the first ten months of 2008, the value of goods exported to the United States, mainland China and the European Union, fell 15.0, 37.5 and 53.6 percent, respectively, in comparison with the same period of 2007, whilst the value of exports to Hong Kong rose 22.5 percent.

As well as this, Macau’s acquisitions remained focused on Asia, with Mainland China and Hong Kong supplying 50.3 percent of total imports, with a value of 18.29 billion patacas.

In October, exports fell 4.1 percent year on year to 1.16 billion patacas and imports fell 7.0 percent to 2.39 billion patacas, and the trade deficit for the month totaled 2.39 billion patacas. (macauhub)