Macau’s trade balance posted a 32.38 billion pataca (US$4 billion) deficit in the period from January to May, up 16 percent year-on-year, reports the Statistics and Census Service.
The deficit is due to the fact that Macau exported goods worth 4.24 billion patacas (up 10 percent) but imported merchandise worth 36.63 billion patacas (up 15 percent).
The amounts exported in the first five months of 2014 to Hong Kong (2.65 billion patacas) and the European Union (127 million patacas) rose by 23 percent and 6 percent respectively compared to the same period last year, while the amounts to mainland China (546 million patacas) and the United States of America (134 million patacas) were down 11 percent and 14 percent respectively.
During the same period merchandise worth 11.63 billion and 9.37 billion patacas was imported from mainland China and the European Union respectively, up 11 percent and 26 percent in annual terms.
In May Macau’s exports stood at 928 million patacas (up 18 percent), with imports at 7.45 billion patacas (up 12 percent), generating a trade deficit of 6.52 billion patacas. (macauhub/MO)