Macau’s trade deficit increased 12 percent year on year in the period from January to November 2014 to 72.14 billion patacas (US$9 billion), reported the Statistics and Census Bureau.
The deficit was due to the fact that exports in the first 11 months of last year totalled 8.95 billion patacas, 11 percent less year on year and imports reached 81.10 billion patacas, an annual increase of 11 percent.
In the first 11 months of 2014 Macau imported from 26.70 billion patacas from mainland China (12 percent more year on year) and 19.87 billion patacas from the European Union (18 percent more year on year).
The region imported 50.81 billion patacas’ worth of consumer goods, an increase of 10 percent, including 10.57 billion patacas in food and beverages, 7.38 billion patacas in wrist watches, which increased 22 percent and 33 percent, respectively.
In November Macau’s trade deficit reached 7.28 billion patacas, 11 percent more year on year, as a result of exports of 827 million patacas (11 percent more) and imports of 8.11 billion patacas (9 percent more). (macauhub/MO)