Merchandise trade declines, marking decrease in imports and exports

Macau’s external merchandise trade totaled MOP142.15 billion in 2024, a decrease of 8.2% from MOP154.78 billion in 2023, according to the Statistics and Census Service (DSEC). Merchandise exports rose by 1.1% to MOP13.49 billion, driven by a 1.8% increase in re-exports, which amounted to MOP12.00 billion.

However, domestic exports dropped by 4.0%, totaling MOP1.49 billion. Merchandise imports saw a larger decline, falling by 9.0% to MOP128.67 billion.

This resulted in a trade deficit of MOP115.18 billion, a reduction of MOP12.93 billion from the previous year.

In terms of destinations, exports to Hong Kong grew by 0.7%, while exports to the EU surged by 42.9%.

However, exports to mainland China, Belt and Road countries, and the USA dropped by 23.3%, 13.7%, and 31.1%, respectively.

The textiles and garments sector showed growth, rising by 16.0% year-on-year. Imports from mainland China and the EU declined by 2.6% and 15.7%, respectively, though imports from Japan rose by 6.2%.

Consumer goods imports, including food, garments, and gold jewelry, decreased, while imports of fuels and mobile phones saw increases.

In December 2024, merchandise exports decreased by 2.8%, while imports dropped by 6.7%, resulting in a trade deficit of MOP10.07 billion for the month.