Macau’s exports fall and imports rise in first five months of 2010

1 July 2010

Macau, China, 1 July – Macau’s exports fell by 7.6 percent year on year from January to May to 3.03 billion patacas (US$378 million) and imports rose 19.3 percent to US$16.79 billion patacas (US$2.09 billion), Macau’s Statistics and Census Bureau (DSEC) said Wednesday.

As a result, the balance of trade posted a deficit increased by 27.4 percent year on year to 13.76 billion patacas (US$1.72 billion) and the ratio of imports to exports fell 5.3 percentage points to 18 percent.

Analysing exports by destination the value of goods exported to Hong Kong (1.39 billion patacas) rose 21.8 percent, whilst to China (482 million patacas), the United States (321 million patacas) and the European Union (159 million patacas) exports fell 2.6 percent, 54.8 percent and 48.6 percent, respectively against the same period of 2009.

The value of goods imported from China between January and May (5.18 billion patacas) and the European Union (3.63 billion patacas) rose 21.4 percent and 23.0 percent, respectively, against the same period of 2009.

In May, exports totalled 518 million patacas, a year on year drop of 9.2 percent and imports totalled 3.42 billion patacas, or 21 percent more, generating a trade deficit of 2.91 billion patacas. (macauhub)