Domestic exports up, trade deficit widens

Official figures show that local imports of mobile phones rose 91.2 percent in May, amounting to MOP 309.3 million

The Statistics and Census Bureau said yesterday that Macau’s re-exports (from mainland China) and domestic exports grew respectively 14.6 percent and 12.3 percent year-on-year in May, supported by significant increases in shipments of tobacco and wine, textile fabrics, machines and apparatus.

The figures released yesterday showed that shipments last month rose to MOP 589 million, up by 13.8 percent year-on-year. The value of re-exports and domestic exports reached MOP 393 million and MOP 196 million respectively.

It was the first increase since January and a huge boost from February this year, when the value of total merchandise export was reported at MOP 358 million, the lowest performance ever since 2000.

The growth was mainly due to higher exports of tobacco and wine, which surged 94.7 percent to MOP 63.1 million from MOP 32.4 million the previous year.
Shipments of garments advanced 24.1 and 18.4 percent respectively, amounting to MOP 51.2 million and MOP 16.9 million.

Macau’s top five export destinations were Hong Kong, mainland China, the United States, Germany and Vietnam.

However, last month imports gained 44.9 percent year-on-year to MOP 4.90 billion, on the back of higher demand of mobile phones, portable computers and consumer goods.
The merchandise trade deficit amounted to MOP 4.31 billion in May.

Imports of gold jewellery grew 142.2 percent year-on-year to MOP 532.4 million, while household consumption goods – food and beverages – rose 49 percent to MOP 715.9.

Import of capital goods also soared 62.6 percent in May form a year earlier, pushed up by higher demand of mobile phones and portable computers, which rose respectively 91.2 percent and 400.7 percent to MOP 309.3 million and MOP 99.9 million.
In May, Macau bought goods on the most part from mainland China, Hong Kong, France, Switzerland and the USA.

Despite the better performance in May, overall in the first five months of 2011, total value of shipments decreased by 8.2 percent year-on-year to MOP 2.78 billion, of which value of re-exports declined by 12.7 percent.

Meanwhile, total value of merchandise import increased by 37 percent to MOP 22.88 billion, widening the merchandise trade deficit by 47.1 percent to MOP 20.10 billion.

From January to May, total value of merchandise imports and exports amounted to MOP 25.66 billion, up by 30.1 percent compared with MOP 19.73 billion a year earlier.