Exports, imports fall in Jan-Oct, cosmetics imports rise 148%
Macao’s exports and imports in the first 10 months of the year fell by 18.1 per cent and 7.1 per cent to MOP 8.6 billion (US$1.08 billion) and MOP 67.4 billion respectively, but imports of beauty, cosmetic and skincare products jumped by 148 per cent to MOP 13.3 billion year-on-year, the Statistics and Census Bureau (DSEC) announced today.
Beauty, cosmetic and skincare products were the number-one segment of Macao’s imports between January and October, ahead of food and beverage imports which dropped by 20.1 per cent to MOP 9.08 billion and garment and footwear imports which fell by 21.9 per cent to MOP 5.4 billion.
Macao’s economy has been hard hit since late January by the impact of the Covid-19 pandemic.
Macao recorded a trade balance deficit of MOP 58.8 billion in the first 10 months of the year.
Re-exports accounted for 85.5 per cent of Macao’s total exports in the 10-month period.
(The Macau Post Daily/Macao News)
Photo by Macao News