Meteoric rise for gold imports
The popularity of precious metals is matched by a desire for other high-end goods such as handbags as the city overcomes Covid-19 doldrums.
Macao’s gold jewellery imports rose by 4,814 per cent year-on-year to MOP 1.29 billion in April, according to the latest official statistics.
In the first four months of the year, gold jewellery imports increased by 270 per cent to MOP 3.26 billion, the Statistics and Census Bureau has announced.
Imports of handbags and wallets rose by 1,165 per cent to MOP 970 million in April. They rose by 268 per cent to MOP 3.53 billion from January to the end of April.
Imports of beauty, cosmetic and skincare products grew by 1,237 per cent to MOP 2.48 billion in April. In the first four months, they rose by 271 per cent to MOP 5.57 billion. Beauty, cosmetic and skincare products topped Macao’s list of import items both in April and in the first four months.
Total imports rose by 265 per cent to MOP 13.7 billion in April, while total exports amounted to MOP 1.06 billion, up by 71.9 per cent year-on-year. In the first four months of 2021, imports rose by 116 per cent to MOP 43.4 billion, while exports increased by 24.8 per cent to MOP 4.5 billion.
Re-exports accounted for 85.5 per cent of total exports in April, The Macau Post Daily reported.
Macao’s retail sector, which depends heavily on tourists, was severely affected by the Covid-19 pandemic last year, especially in the first half.