Import surge led by mobile phones, motor vehicles

Total merchandise import grew by 28 percent year-on-year in May to MOP7.18 billion, of which imports of mobile phones and motor vehicles soared by 182.6 percent and 70.3 percent respectively, according to information released by the Statistics and Census Service (DSEC).

At the same time, total merchandise export for May amounted to MOP1.07 billion, up by 20.1 percent year-on- year, with the value of re-exports increasing 23.7 percent to MOP932 million. Accordingly, the merchandise trade deficit in May amounted to MOP6.1 billion.

For the first five months of 2018, total value of merchandise export increased by 9.8 percent year-on-year to MOP5.14 billion, of which value of re-exports (MOP4.46 billion) grew by 13 percent. Total value of merchandise import went up by 26.3 percent year-on-year to MOP36.32 billion. The merchandise trade deficit widened to MOP31.18 billion for the first five months of 2018.

Meanwhile, the biggest markets for exports in the first five months of the year were Hong Kong (MOP3.26 billion) and mainland China (MOP824 million), growing by 9.8 and 15.7 percent year- on-year, respectively. Exports to the European Union (MOP70 million) and the U.S. (MOP54 million) declined by 16.3 percent and 28.3 percent respectively during the same period.

By place of origin, merchandise import from mainland China (MOP12.55 billion) and the EU (MOP9.34 billion) increased by 31.5 and 26.4 percent, respectively, year-on- year in the first five months of 2018.

Imports from the Portuguese-speaking countries (MOP322 million) and the Belt & Road Countries outside of Greater China (MOP3.16 billion) increased by 28 and 24.5 percent, respectively.

External merchandise trade totaled MOP41.46 billion from January to May 2018, up by 24 percent compared to MOP33.43 billion a year earlier.