The Macau balance of trade deficit increased 23.2 percent year-on-year in the first seven months of 2012 to 36.02 billion patacas (US$4.5 billion), the region’s Statistics and Census Bureau said in Macau.
The deficit was a result of exports totalling 4.58 billion patacas, a year-on-year increase of 15.3 percent and imported goods worth 40.61 billion patacas, which was 22.3 percent more.
As a result, the rate of coverage of imports by exports fell 70 basis points to 11.3 percent.
In their turn, imports from mainland China and the European Union (EU) totalled 12.90 billion patacas and 9.54 billion patacas, respectively, with year-on-year rises of 25.9 percent and 15.0 percent, respectively.
In July, exports from Macau rose 10.8 percent to 639 million patacas and imports rose 7.8 percent to 5.91 billion patacas, generating a trade deficit of 5.27 billion patacas. (macauhub)