Macao's trade deficit reaches $676 million in April

MACAO - Macao recorded a trade deficit of 5.14 billion patacas ($676 million) in April 2012, as merchandise import soared by 20.5 percent year-on-year, according to the figures released on Tuesday by the city's Statistics and Census Service.

Total merchandise export for April amounted to 643 million patacas, with value of domestic exports decreasing by 7.1 percent to 194 million patacas, the figures showed.

Meanwhile, total value of merchandise export in the first four months of 2012 increased by 19.6 percent year-on-year to 2.62 billion patacas, of which value of domestic exports and re-exports rose by 2.8 percent and 28.4 percent respectively.

Analyzed by destination, value of merchandise export to Hong Kong and the Chinese mainland in the first four months of 2012 increased by 34.6 percent and 255 percent respectively year-on-year, the Statistics and Census Service said.

In the first four months of 2012, value of merchandise import from Chinese mainland (7.34 billion patacas) and the EU (5.34 billion patacas) expanded by 36.6 percent and 18.8 percent respectively year-on-year, the figures indicated.

Imports of consumer goods soared by 29.2 percent to 14.14 billion patacas, with that of gold jewelry, watches and handbags and wallets rising by 46 percent, 54.3 percent and 43.1 percent respectively year-on-year, the Statistics and Census Service said.