Macau’s trade deficit sees marginal improvement in 2019

4 February 2020

Macau’s balance of trade deficit in 2019 improved marginally in 2019 to stand at 77.33 billion patacas (US$9.66 billion), a drop of 577 million patacas compared with the figure for 2018, according to the region’s Statistics and Census Bureau.

The result achieved was due to an on year 5.0% increase in exports to 12.80 billion patacas, while the value of imported goods (90.13 billion patacas) was similar to that observed in 2018.

By type of products, the bureau highlighted the downturn in the value of the import of mobile phones, 29%, and the increase in the import of products for beauty, make-up and skin care, whose value registered an increase of 44.2%.

In terms of countries or territories of origin, the value of goods imported from mainland China (30.65 billion patacas) fell 2.8% compared with 2018, and the value of goods imported from the European Union (24.92 billion patacas) climbed 10.6%.

The Statistics and Census Bureau also announced the values of imported goods from the countries of the “Belt and Road” initiative (15.97 billion patacas) and the Portuguese-speaking countries (844 million patacas) rising by 122.3% and 6.9%, respectively.

The balance of trade for December 2019 recorded a deficit of 7.85 billion patacas, as exports grew 5.1% year-on-year to 1.10 billion patacas and imports amounted to 8.95 billion patacas, an increase of 12.1% on year. (macauhub)