Macau posts trade deficit of US$2.429 billion in 1st quarter

30 April 2014

Macau’s balance of trade posted a deficit of 19.436 billion patacas (US$2.429 billion) in the first quarter of 2014, which was a rise of 20 percent against the same period of 2013, the region’s Statistics and Census Bureau said.

This deficit was the result of exports in the first three months of the year totalling 2.483 billion patacas, a year on year rise of 6 percent and imports that rose 18 percent to 21.919 billion patacas.

In the first quarter Macau imported goods worth 6.92 billion patacas from mainland China and 5.6 billion patacas from the European Union, or 11 and 22 percent more, respectively.

Consumer goods imported in the period rose by 23 percent year on year to 14.23 billion patacas, and some highlights were imports of gold jewellery worth 2.17 billion patacas, wrist watches (2.17 billion patacas), and beauty, make-up and skincare products, which rose by 61 percent, 95 percent and 47 percent, respectively.

In March, Macau’s exports totalled 831 million patacas, a year-on-year rise of 10 percent, and imports totalled 7.218 billion patacas (19 percent more), generating a trade deficit of 6.387 billion patacas, or a rise of 22 percent.(macauhub/MO)