Macau’s balance of trade deficit rises 47.8 pct in first seven months of 2011

2 September 2011

Macau, China, 2 Sept – Macau’s balance of trade posted a deficit of 29.39 billion patacas (US$3.67 billion) in the period from January to July, which was a rise of 47.8 percent against the same period of 2010, the region’s Statistics and Census Bureau (DSEC) said.

The worsening of the deficit was due to increased imports that in the period rose by 38.8 percent to 33.38 billion patacas and a drop in exports that fell 6.1 percent year-on-year to 3.99 billion patacas.

As a result fo these figures, the rate of coverage of imports by exports at the end of July was 11.9 percent, a drop of 5.7 percentage points against the rate seen in July, 2010.

In the first seven months of the year exports to Hong Kong, china and the United States totalled 1.69 billion, 673 million, and 349 million patacas, respectively, and year-on-year decreases of 8.8 percent, 0.8 percent and 30.2 percent, respectively.

Macau imported goods from mainland China and the European Union (EU) worth 10.26 billion patacas and 8.34 billion patacas, respectively, with year-on-year rises of 36.5 percent and 58.8 percent, respectively.

In July, exports from Macau fell 4.6 percent to 585 million patacas and imports rose 46.3 percent to 5.54 billion patacas, generating a trade deficit of 4.96 billion patacas. (macauhub)