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Imports fall 39% in May, exports drop 24%

Macao’s merchandise imports fell by 39.1 percent year-on-year in May, while exports dropped by 24.2 percent .

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UPDATED: 22 Dec 2023, 5:46 am

Macao’s merchandise imports fell by 39.1 per cent year-on-year to MOP 4.35 billion (US$543 million) in May, while exports dropped by 24.2 per cent to MOP 687 million, the Statistics and Census Bureau (DSEC) announced today.

Re-exports accounted for 82.4 per cent of total exports.

Imports of gold jewellery (MOP 64.8 million), watches (MOP 101.6 million) and mobile phones (MOP 116.1 million) decreased by 87.8 per cent, 82.8 per cent and 55.1 per cent respectively in Macao.

Macao’s merchandise trade deficit in May amounted to MOP 3.66 billion.

In the first five months of the year, merchandise exports fell by 17.3 per cent to MOP 4.54 billion. Merchandise imports dropped by 30.3 per cent to 24.66 billion between January and May, resulting in a merchandise trade deficit of MOP 20.11 billion, down by MOP 9.79 billion from the same period in 2019.

Between January and May, food and beverage imports (MOP 4.1 billion) topped Macao’s list of imported goods, accounting for 16.6 per cent of total imports. Some 37 per cent of Macao’s imported originated from mainland China. Nearly two-thirds of Macao’s exports were shipped to Hong Kong.

Macao’s exports to Belt and Road (BRI) countries (MOP 143 million) and Portuguese-speaking countries (MOP 8 million) in the first five months of the year rose by 125.8 per cent and 800.4 per cent respectively. Imports from the BRI countries (MOP 4.86 billion) and Portuguese-speaking countries (MOP 285 million) shrank by 1.9 per cent and 22.6 per cent respectively.

Macao’s external merchandise trade in the first five months fell by 28.6 per cent year-on-year to MOP 29.2 billion.

Macao has been severely affected by the economic impact of the COVID-19 pandemic, its tourism, gaming, retail and media sectors in particular.

(The Macau Post Daily/Macau News)
PHOTO ©Globus

UPDATED: 22 Dec 2023, 5:46 am

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