Macau’s trade deficit widened by 32.4% in the first quarter of 2018 to 19.651 billion patacas (US$2.456 billion), according to information released by the region’s Statistics and Census Bureau.
The increase in the balance of trade deficit in the first three months of the year was due to the fact that exports increased by 0.8% to 2.971 billion patacas and imports increased by 27.2% to 22.622 billion patacas.
The value of goods imported from Mainland China (7.68 billion patacas) and the European Union (5.97 billion patacas) in the first quarter of the year rose 29.8% and 28.3% respectively, against the same quarter of last year.
In the same period Macau imported goods worth 200 million patacas and from the countries covered by the “Belt and Road” initiative, with the exception of the Greater China region, products worth 1.92 billion patacas. patacas, with a growth of 29.9% and 23.5%, respectively.
In March alone, Macau exported goods worth 1.030 billion patacas, with a year-on-year drop of 3.8% and imported goods worth 7.678 billion patacas, an increase of 21.9% year-on-year. (macauhub)