Macau recorded a trade deficit of 15.055 billion patacas (US$1.882 billion) in the first quarter, compared with a deficit of 14.602 billion patacas in the same period of 2016 said the region’s Statistics and Census Bureau.
The deficit was due to the fact that exports totalled 2.941 billion patacas (8.8% more than a year before) and imports rose to 17.997 billion patacas (+6.5%), leading to a rate of coverage of imports by exports of 16.3%.
The value of products imported from mainland China in the first three months of (5.94 billion patacas) and the European Union (4.71 billion patacas) changed by -4.8% and +15.2% respectively, and those imported from Portuguese-speaking countries increased 5.0% to 154 million patacas.
In the first quarter Macau companies imported 12.020 billion patacas of consumer goods (+13.0% year on year), notably gold jewellery (1.64 billion patacas or +25.9%), watches (1.30 billion patacas or +43.5%).
In contrast, the value of imports of fuels and lubricants (1.27 billion patacas), mobile phones (1.25 billion patacas) and building materials (458 million patacas) recorded drops of 5.2%, 4.3% and 7.2%, respectively.
In March, Macau exported goods worth 1.066 billion patacas, 4.8% more than in the same month of 2016 and imported goods whose value amounted to 6.414 billion patacas, generating a trade deficit of 5.347 billion patacas. (macauhub)