Macau Records a Two Billion Trade Deficit

Source: Macau Daily Times

A trade deficit of MOP2.27 billion was recorded for May this year according to information from the Statistics and Census Service (DSEC). The value of total exports of goods amounted to MOP570 million in May, down by 65.7 percent year-on-year, with the value of domestic exports falling sharply by 75.2 percent to MOP242 million and that of re-exports dropping by 52.1 percent to MOP328 million.

The value of total imports of goods amounted to MOP2.84 billion, down by 22.1 percent year-on-year.

Textile and garment exports declined by 69.3 percent year-on-year to account for 38.9 percent of total exports; and the value of Non-textile exports dropped by 30.1 percent.

The value of imports from Mainland China dropped by 43.0 percent year-on-year, but those from the EU rose by 5.6 percent. Imports of all broad economic categories registered year-on-year decreases, of which raw materials and semi-manufactured goods dropped by 45.2 percent. Fuels and lubricants fell by 26.0 percent; while the value of imports of consumer goods recorded a slower decrease of 7.2 percent, with food and beverages rising by 10 percent.

From January to May, the total exports of goods fell by 53.3 percent year-on-year to MOP3.28 billion, with the value of domestic exports and re-exports declining by 67.5 percent and 29.9 percent respectively.

Meanwhile, the total imports of goods decreased by 21.6 percent to MOP13.99 billion and the trade deficit for the first five months narrowed by 1.0 percent to MOP10.71 billion. The exports and imports ratio went down by 15.9 percentage point’s year-on-year to 23.4 percent.

In the first five months, the value of merchandise exports to the USA, the EU and Mainland China decreased by 76.2 percent, 58.4 percent and 42.7 percent respectively year-on-year.

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Editor: Zhu Yanshan