Macau’s trade deficit rises in first half

1 August 2014

Macau’s balance of trade deficit in the first half of this year rose to 38.42 billion patacas (US$4.8 billion) as a result of imports of 43.46 billion patacas (US$5.4 billion), according to the Macau’s government’s statistics and Census Bureau.

Exports rose by 10 percent in the first six months of the year against the same period of 2013, reaching 5 billion patacas (US$625 million), according to trade statistics published Thursday.

Exports are based on re-exporting goods, which accounted for 80.7 percent of the total, or 4 billion patacas (US$500 million), 14 percent more than in the first six months of 2013.

Macau exported products worth 3.06 billion patacas to Hong Kong and 156 million patacas to the European union (EU), or 20 percent and 7 percent more year-on-year, respectively.

In terms of imports, Mainland China with 13.91 billion patacas and the European Union with 11.07 billion patacas, where the Macau’s main suppliers, with year on year rises of 11 percent and 26 percent, respectively. (macauhub/MO)