Macau’s balance of trade deficit posts 27.7 pct rise between January and August

4 October 2010

Macau, China, 4 Oct – The Macau balance of trade deficit posted a year on year increase of 27.7 percent between January and August to 23.24 billion patacas (US$2.905 billion), the region’s Statistics and Census Bureau said.

The deficit was a result of the territory’s exports in the period totalling 4.78 billion patacas, a drop of 5.9 percent year on year, as compared to imports of 28.02 billion patacas, a rise of 20.4 percent.

As a result, the rate of coverage of imports by exports fell 4.8 percentage points to 17 percent.

In the period, Macau’s exports to Hong Kong and China rose 13 percent and 1.7 percent, respectively, to 2.07 billion patacas and 761 million patacas, whilst exports to the United States and the European Union fell 44.1 percent and 41.7 percent, respectively, to 563 million patacas and 275 million patacas.

The value of goods imported from mainland China rose 18.4 percent and from the EU rose 25.9 percent, totalling 8.70 billion patacas and 6.13 billion patacas, respectively.

In August, Macau’s exports totalled 540 million patacas, a year on year drop of 1.2 percent and imports totalled 3.78 billion patacas, or 21.0 percent more, generating a trade deficit of 3.24 billion patacas. (macauhub)