29.08.202509:40:16UTC+00Macau Trade Deficit Narrows in July

In July, Macau experienced a reduced trade deficit amounting to MOP 9.0 billion, an improvement from the MOP 9.3 billion recorded the previous year. This change was primarily due to an 8.8% year-on-year increase in exports, totaling MOP 1,228.9 million, propelled by a significant 15.8% growth in non-textile goods. Notably, there was a dramatic rise in the export of watches (up 121.1%) and diamonds and jewelry (up 93.5%). However, the textile and garment sector saw a decline of 31.9% in exports. Exports saw remarkable upward movement to the Philippines (up 203.8%), followed by mainland China (up 139.0%) and the US (up 17.5%), whereas exports to the EU decreased by 7.7%.

Meanwhile, imports experienced a slight drop of 1.9%, amounting to MOP 10.3 billion. This was marked by significant reductions in mobile phone imports (down 32.2%) and handbags and wallets (down 13.5%). Conversely, there was a noticeable increase in the purchase of gold jewelry and beauty products (up 32.4%), as well as cosmetics and skincare items (up 33.1%). The data shows an increase in imports from Hong Kong (up 9.1%) and the US (up 0.1%), while there were declines from Japan (down 9.9%), the EU (down 6.9%), and mainland China (down 3.7%). Over the first seven months, Macau's trade deficit was reduced to MOP 62.8 billion, reflecting a 1.6% rise in exports alongside a 4.6% decline in imports.