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Gold jewellery imports drop 64% in July

Macao’s imports of gold jewellery fell 64.1% year-on-year to MOP 151 million in July.

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UPDATED: 22 Dec 2023, 5:46 am

Macao’s imports of gold jewellery fell 64.1 per cent year-on-year to MOP 151 million (US$18.96 million) in July, the Statistics and Census Bureau (DSEC) said on Monday.

According to a statement by the bureau, gold jewellery imports dropped 64.6 per cent year-on-year to MOP 1.18 billion in the first seven months of the year.

Imports of watches fell 52.6 per cent to MOP 265 million in July. They declined 55.8 per cent to MOP 1.68 billion between January and July.

Gold jewellery and watches are popular with visitors from the Chinese mainland. The number of mainland visitors tumbled by 97.4 per cent year-on-year to 66,489 in July, the bureau announced last month.

Macao’s merchandise exports in the first seven months fell 17 per cent to MOP 6.18 billion. Re-exports accounted for 86.2 per cent of the total value of exports.

Merchandise imports decreased 24.7 per cent to MOP 36.89 billion between January and July, resulting in a merchandise trade balance deficit of MOP 30.71 billion.

Food and beverages, which continued to be Macao’s number-one import segment, declined 27.4 per cent to MOP 5.68 billion in the first seven months.

Two-thirds of Macao’s exports went to Hong Kong, while 35.5 per cent of Macao’s imports originated from the mainland in the seven-month period.

(The Macau Post Daily/Macau News)
PHOTO © Ray F

UPDATED: 22 Dec 2023, 5:46 am

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