Imports increase 23 percent in July

Total merchandise imports for July 2018 amounted to MOP7.54 billion, according to the latest data from the Statistics and Census Service (DSEC), up by 23.6 percent year-on-year. Meanwhile, total merchandise exports fell 17.6 percent to MOP918 million, with the value of re-exports also slipping by 17.4 percent to MOP791 million.

The rise in merchandise imports was led by an increase in the importation of mobile phones, watches and cosmetic products, according to DSEC. Exports were dampened by the 77.8 percent fall in the garment sector and a 38.4 percent decline in tobacco.

From January to July 2018, the total value of merchandise exports increased 5.6 percent year-on-year to MOP7.11 billion, with the value of re-exports (MOP6.18 billion) growing by 8.6 percent, but that of domestic exports (MOP930 million) declining by 10.9 percent. Total value of merchandise imports went up by 24.4 percent year-on-
year to MOP50.9 billion.

The merchandise trade deficit widened to MOP43.79 billion in the first seven months of 2018.

Broken down by place of origin, merchandise imports in the first seven months of the year came mostly from mainland China (29.4 percent) and the EU (21.1 percent). Imports from Portuguese-speaking countries amounted to just MOP458 million, while that of ‘Belt and Road’ countries outside of the greater China region reached MOP4.42 billion.

When analyzed by destination, merchandise exports to the nine provinces of the Pan-Pearl River Delta area (MOP1.15 billion) increased by 3.5 percent year-on- year in the first seven months of 2018, but exports to Shanghai (MOP16 million) dropped by 82.6 percent, resulting in a net 3.9 percent decrease in exports to mainland China (MOP1.18 billion).

Meanwhile, exports to Hong Kong and the EU rose by 8.3 percent and 4.2 percent respectively, and those to Portuguese-speaking countries (MOP24 million) increased notably by more than 3,600 percent year- on-year.