Macau’s balance of trade deficit totals US$1.6 billion in January/February

31 March 2014

Macau’s balance of trade deficit rose in January and February of this year to 13.19 billion patacas (US$1.6 billion), which is a year-on-year rise of 20 percent the Statistics and Census Bureau said Monday.

In the first two months of the year Macau exported goods worth 1.66 billion patacas, or 5 percent more year on year and imported goods worth 14.84 billion patacas, or 18 percent more compared with the same period of 2013.

The value of goods exported to Hong Kong (1.02 billion patacas), to mainland China (217 million patacas) and to the European Union (54 million patacas) rose by 5 percent, 9 percent and 19 percent, respectively against the same period of last year. Exports to the United States (59 million patacas) fell by 20 percent.

In the first two months of the year Macau imported goods worth 4.68 billion patacas’ worth of goods from mainland China and 3.8 billion patacas of goods from the European Union, or 13 percent and 19 percent more year on year, respectively.

By products, the Statistics and Census Bureau, noted 2.19 billion patacas in gold jewellery, 1.45 billion patacas’ worth of wrist watches and 469 million patacas of beauty, makeup and skincare products, which increased by 70 percent, 86 percent and 51 percent, respectively.

In February Macau exported goods worth 721 million patacas, or 25 percent more year on year, and imported goods worth 6.07 billion patacas, leading to a balance of trade deficit of 5.35 billion patacas for the month. (macauhub)