Macau’s balance of trade deficit rises in first 10 months of 2010

1 December 2010

Macau, China, 1 Dec – The Macau balance of trade deficit posted a year on year increase of 26.8 percent between January and October rising to 29.77 billion patacas the region’s Statistics and Census Bureau said.

In the period, Macau’s exports – domestic exports and re-exports – fell 7.9 percent to 5.86 billion patacas and imports rose 19.4 percent to 35.63 billion patacas.

As a result, the rate of coverage of imports by exports fell 4.9 percentage points year on year to 16.4 percent.

In the first ten months of the year, Macau’s exports to Hong Kong and China rose 3.9 percent and 1.6 percent, respectively, to 2.51 billion patacas and 936 million patacas, whilst exports to the United States and the European Union fell 41.4 percent and 40.3 percent, respectively, to 688 million patacas and 331 million patacas.

The value of goods imported from mainland China rose 16.6 percent year on year and from the EU rose 26.9 percent, totalling 11.05 billion patacas and 7.85 billion patacas, respectively.

In October alone, Macau’s exports fell 3.2 percent to 568 billion patacas and imports rose 17.5 percent to 3.76 billion patacas, leading to a deficit of 3.19 billion patacas in the territory’s balance of trade.

The bureau also noted that domestic exports in October had totalled 237 million patacas, or 31.4 percent more than in October 2009, which was the first rise since March, 2008. (macauhub)