Macau posts trade deficit of US$2.084 billion in first quarter

2 May 2013

Macau’s balance of trade posted a deficit of 16.674 billion patacas (US$2.084 billion) in the first quarter of the year, which was an increase of 10 percent against the deficit for the same period of 2012, the region’s Statistics and Census Bureau (DSEC) said.

In the period exports rose by 18 percent to 2.34 billion patacas, and imports posted growth of 11 percent to 19.014 billion patacas.

Some highlights were imports of gold jewellery worth 1.95 billion patacas or 10 percent of total imports, wrist watches (1.36 billion patacas), passenger vehicles and motorcycles (828 million patacas) and beauty, make-up and skincare products (493 million patacas) which posted growth of 22 percent, 29 percent, 24 percent and 33 percent, respectively.

In the first quarter exports to Hong Kong (1.37 billion patacas) and to mainland China (327 million patacas), rose 34 percent and 15 percent year on year, respectively, whilst exports to the United States (106 million patacas) and the European Union (67 million patacas) fell 15 percent and 22 percent, respectively.

In March alone, the deficit totalled 5.452 billion patacas, with imports of 6.208 billion patacas (5 percent more) and exports of 755.3 million patacas, 7 percent less than in the same month of 2012. (macauhub)