External trade drops 11% in January

Macau’s external merchandise trade fell by 11.2% year-over-year to MOP11.90 billion in January 2025, according to the Statistics and Census Service (DSEC). While exports edged up by 0.3% to MOP1.13 billion, imports dropped by 12.2% to MOP10.77 billion, resulting in a trade deficit of MOP9.64 billion. Re-exports of perfumes and wine surged by 213.5% and 90.8%, respectively, while casino-related articles and watches declined. Domestic exports fell by 9.5%. Imports of consumer goods dropped 9.6%, though fuel imports rose by 8.2%.