The Covid-19 pandemic caused by a new type of coronavirus led to the value of the imports in February in Macau falling to its lowest level since March 2011, to 3.87 billion patacas, a contraction of 30.3% year-on-year, said the region’s Statistics and Census Bureau.
The fall in the value of imports was due to a drop in demand for imported goods following a decrease in economic activities in Macau, due to the Covid-19 pandemic.
While the value of imports of gold jewellery, mobile phones and wrist watches decreased by 73.9%, 68.3% and 57.9%, respectively, imports of protective masks increased by 854.6% and pharmaceutical products rose by 57.6%.
In February exports totalled 911 million patacas, a drop of 1.4% on year, and the balance of trade posted a deficit of 2.959 billion patacas.
In the first two months of the year Macau exported goods to the value of 2.06 billion patacas, minus 16.0% year-on-year and imported goods in the amount of 12.32 billion patacas, leading to a trade deficit of 10.26 billion patacas, a real contraction of 1.64 billion patacas on year and a percentage drop of 13.78%. (macauhub)