Belt and Road exports surge 48%

The city’s external merchandise trade totaled MOP154.78 billion in 2023, up 0.9% from MOP153.33 billion in 2022, according to data from the Statistics and Census Service (DSEC).

The total value of merchandise exports in 2023 dropped 1.3% year-on-year to MOP13.34 billion. Of this, the value of domestic exports (MOP1.55 billion) declined 23.2%, while the value of re-exports (MOP11.79 billion) grew 2.5%.

The latest figures show the total value of merchandise imports rose 1.2% year-on-year to MOP141.44 billion. The merchandise trade deficit totaled MOP128.11 billion in 2023, up by MOP1.82 billion from MOP126.29 billion in 2022.

Analyzed by destination, merchandise exports to mainland China (MOP975 million), Hong Kong (MOP9.53 billion), the USA (MOP438 million) and the European Union (MOP151 million) decreased by, respectively, 25.5%, 7.5%, 28.1%, and 8.8% year-on-year in 2023. However, exports to the Belt and Road Countries (MOP772 million) increased by 47.8%.

By place of origin, merchandise imports from the Belt and Road Countries (MOP30.92 billion) and Hong Kong (MOP7.19 billion) rose by, respectively, 18.0% and 41.3% year-on-year in 2023, while those from the European Union (MOP44.61 billion) and mainland China (MOP40.51 billion) dipped by, respectively, 2.7% and 4.6%. Staff Reporter