Macau’s trade deficit totals US$7.28 billion between January and October

29 November 2013

Macau’s balance of trade posted a deficit of 58.27 billion patacas (US$7.28 billion) in the first ten months of the year, which was a year-on-year rise of 14 percent, the region’s Statistics and Census Bureau (DSEC) said.

In the first ten months of the year Macau exported goods worth 7.43 billion patacas, which was a year-on-year increase of 9 percent, and imported goods worth 65.70 billion patacas, or 18 percent more than in the same period of 2012.

By destination, the value of goods exported Hong Kong (3.92 billion patacas) and to mainland China (1.35 billion patacas), rose 14 percent and 21 percent year on year, respectively, whilst exports to the United States (302 million patacas) and the European Union (230 million patacas) fell by 28 percent and 12 percent, respectively.

In the same 10-month period goods imported from mainland China and the European Union (EU) totalled 21.43 billion patacas and 15.27 billion patacas, respectively, with year-on-year rises of 14 percent and 12 percent, respectively.

From January to October Macau’s companies imported 41.96 billion patacas or 63 percent of total imports in gold jewellery (7.71 billion patacas), wrist watches (5.03 billion patacas) and beauty, make-up and skincare products (2.21 billion patacas) which posted growth of 27 percent, 22 percent, and 74 percent, respectively.

In October alone, the deficit totalled 6.45 billion patacas, with exports of 700 million patacas and imports of 7.15 billion patacas, the Bureau said. (macauhub)