Macau: Balance of trade deficit totals US$3.376 billion in 2008

5 February 2009

Macau, China, 5 Feb – Macau’s balance of trade ended the year with a deficit of 27.01 billion patacas (US$3.376 billion) with exports falling 21.6 percent to 16.03 billion patacas (US$2 billion).

Official figures published by the Statistics and Census Bureau and cited by MacauNews showed that imports in 2008 totalled 43.03 billion patacas (US$5.378 billion), or a fall of 0.2 percent against 2007.

The rate of coverage of imports by exports fell from 47.4 percent in 2007 to 37.2 percent in 2008.

In December 2008, Macau’s exports fell 50 percent to 913 million patacas (US$114 million) against the same month of 2007.

Exports to the United States, Mainland China and the European Union, the main destinations for Macanese products, fell by 22.8 percent, 35.1 percent and 57.3 percent, respectively in 2008 as compared to the previous year.

Hong Kong posted an increase in imports from Macau, with the former British colony receiving 18.3 percent more products by value.

Textile and clothing exports fell 31.7 percent as compared to 2007 and the weight of the main sector on Macau’s sales dell from 65.5 percent in 2007 to 57.1 percent in 2008.

The non-textile sector saw a fall in Sales of 2.2 percent as compared to 2007. (macauhub)