Trade deficit widens on 27 percent rise in import value

For the first quarter of 2018, the total value of merchandise import increased by a significant 27.2 percent year-
on-year to MOP22.62 billion, while the total value of merchandise export increased only marginally by 0.8 percent to MOP2.97 billion. Accordingly, the merchandise trade deficit widened to MOP19.65 billion, as per the latest data from the Statistics and Census Bureau.

Analyzed by place of origin, mainland China continued to be the largest market for merchandise imports into to Macau, accounting for MOP7.68 billion in the first quarter, followed by the European Union at MOP5.97 billion. Imports from Portuguese-speaking countries and the Belt and Road participating countries outside of greater China amounted to MOP200 million and MOP1.92 billion respectively.

Imports of consumer goods increased 23.9 percent in the first quarter to MOP14.64 billion, with the value of imports of beauty, cosmetic and skin-care products (MOP1.15 billion) and motor cars and motorcycles (MOP470 million) rising by 52.9 percent and 45.3 percent respectively.

In addition, the value of imports of mobile phones (MOP2.17 billion), fuels and lubricants (MOP1.56 billion) and construction materials (MOP598 million) grew by 74 percent, 22.9 percent and 30.1 percent respectively.

As for merchandise exports, the majority of the MOP2.97 billion in the first quarter was headed for Hong Kong (MOP1.92 billion), followed by mainland China (MOP471 million). The value of merchandise exports to the United States declined 21.7 percent year-on- year to MOP32 million.