Macau’s balance of trade posted a deficit of 62.77 billion patacas in 2012, which was a rise of 13.5 percent against the 55.32 billion patacas in 2011, the region’s Statistics and Census Bureau (DSEC) said.
The deficit was the result of exports totalling 8.16 billion patacas, or 17.1 percent rise compared with 2011, mainly due to a rise of 28.2 percent in re-exports, and imports that totalled 70.93 billion patacas, a year-on-year rise of 13.9 percent.
As a result, the rate of coverage of imports by exports rose by 30 basis points year-on-year from 11.2 percent in 2011 to 11.5 percent in 2012.
In 2012, the value of exports to Hong Kong (4.10 billion patacas) and to mainland China (1.37 billion patacas), rose 31.7 percent and 24.7 percent, respectively, whilst exports to the United States (507 million patacas) and the European Union (316 million patacas) fell 8.7 percent and 17.7 percent, respectively against 2011.
In their turn, imports from mainland China and the European Union (EU) totalled 23.20 billion patacas and 16.65 billion patacas, respectively, with year-on-year rises of 21.2 percent and 7.4 percent, respectively.
In December alone, the deficit totalled 5.94 billion patacas, as a result of exports of 683 million patacas (7 percent less) and imports of 6.62 billion patacas (2.9 percent more), the GICB said. (macauhub)