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December 1, 2009

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Home » Business » Economy

Macau posts 4.2% climb in trade deficit

MACAU'S trade deficit rose 4.2 percent to 23.26 billion patacas (US$2.94 billion) in the first 10 months of 2009 from the same period last year, according to the figures released yesterday by its Statistics and Census Service.

From January to October, the total value of local merchandise exports tumbled 54.7 percent annually to 6.36 billion patacas, of which the value of domestic exports and re-exports declined by 69.7 percent and 31.7 percent respectively, while that of merchandise imports slid by 18.5 percent to 29.62 billion patacas, the figures showed.

As a result, the exports/imports ratio fell by 17.1 percentage points year on year to 21.5 percent in the period. Analyzed by destination of Macau's exports, the value of merchandise exports to the United States, the European Union and the Chinese mainland respectively fell by 79.6 percent, 59.5 percent and 45.4 percent year on year in this period.

The value of textile and garment exports plunged 73.1 percent annually to account for 34.6 percent of the total exports of goods, while the value of non-textile exports tumbled 29.1 percent.

Regarding the origin of imported goods, the value of merchandise imports from the Chinese mainland dropped 37.1 percent year on year, but that from the EU rose by 5.1 percent.

The value of imports by broad economic categories registered year-on-year decrease, of which raw materials and semi-manufactured goods and fuels and lubricants tumbled 40.4 percent and 25.3 percent respectively, the figures showed.

The value of imports of consumer goods recorded a mild decrease of 5.2 percent, according to the figures.


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