Statistics

Macao's trade deficit reaches $538m in May

(Xinhua)
Updated: 2011-07-01 13:32

MACAO - Macao recorded a trade deficit of 4. 31 billion patacas ($538 million) in May 2011, as merchandise import soared by 44.9 percent year-on-year, according to the figures released on Thursday by the city's Statistics and Census Service (DSEC).

Total merchandise export for May amounted to 589 million patacas, with value of domestic export increasing by 14.6 percent to 196 million patacas, the figures showed.

Related readings:  Macao's casino taxes account 84%of gov revenue  Macao's inflation exceeds 5 pct in May  Macao's forex reserves reach $26.04b in April  Macao's economy expands by 21.5% in Q1

Meanwhile, total value of merchandise export in the first five months of 2011 dropped by 8.2 percent year-on-year to 2.78 billion patacas, of which value of re-export declined by 12.7 percent.

Analyzed by destination, value of merchandise export to Hong Kong, the Chinese mainland and United States in the first five months of 2011 decreased by 14.4 percent, 4.2 percent and 22.4 percent, respectively, year-on-year, the DSEC said.

In the first five months of 2011, value of merchandise import from Chinese mainland and the EU expanded by 36.1 percent and 54.8 percent year-on- year, respectively, the figures indicated.

Imports of consumer goods soared by 39 percent to 13.87 billion patacas, with that of food and beverages, gold jewelry, watches, and handbags and wallets rising by 38.2 percent, 68.1 percent 33.9 percent and 104.6 percent year-on-year, respectively the DSEC said.