Macau, China, 4 May – Macau’s exports fell 49.2 percent year on year in the first quarter of 2009, to 2.03 billion patacas (US$253 million), according to a report from news agency MacauNews.
Data released on Thursday shows that in the first three months of the year exports to the United States, European Union and mainland China fell 70.5 percent, 61.1 percent and 35.6 percent, respectively.
The value of textile and clothing exports – Macau’s main exported product – fell 64 percent, when compared to the same period in 2008 and its weight in relation to all exports fell to 42.1 percent of the total.
In the same period, the total value of imports came to US$1 billion (8.21 billion patacas), which represents a fall of 20.9 percent in relation to the first quarter of 2008.
The value of products imported from mainland China and Hong Kong fell 42.8 percent and 12.7 percent, respectively.
The trade deficit in the first three months of the year dropped 3.2 percent, when compared to the same period in 2008, to US$772 million (6.18 billion patacas).
The export-to-import ratio between January and March was 24.7 percent, which is 13.8 percentage points less than the same period the previous year. (macauhub)