Macau’s balance of trade deficit rises 28.4 pct in first 7 months of 2010

1 September 2010

Macau, China, 1 Sept – The Macau balance of trade posted an increase of 28.4 percent between January and July to 20.05 billion patacas (US$2.5 billion), the region’s Statistics and Census Bureau said.

In the period, Macau exported goods and service to the total value of 4.23 billion patacas, which was a year on year fall of 6.5 percent, and imported 24.29 billion patacas’ worth of goods, or a 20.5 percent year on year rise.

As a result, the rate of coverage of imports by exports fell to 17.4 percent, or 5.1 percentage points less than in the same period of 2009.

By destination Macau’s exports to Hong Kong and China rose 15.1 percent and 0.3 percent, respectively, to 1.85 billion patacas and 680 million patacas, whilst exports to the United States and the European Union fell 45.2 percent and 42.9 percent, respectively, to 500 million patacas and 248 million patacas.

The value of goods imported from mainland China rose 19.9 percent and from the EU rose 24.4 percent, totalling 7.51 billion patacas and 5.30 billion patacas, respectively, year on year.

In July, Macau’s exports totalled 609 million patacas, a year on year drop of 3.4 percent, and imports totalled 3.83 billion patacas, or 19.4 percent more, generating a trade deficit of 3.22 billion patacas. (macauhub)