Information from the Statistics and Census Service (DSEC) indicated that total values of merchandise import and export both showed significant year-on-year growth in July 2023, on account of a relatively low base of comparison in the same month last year amid the pandemic. Total merchandise import soared by 156.6% year-on-year to MOP11.24 billion; imports of Gold jewellery, Beauty, cosmetic & skincare products and Watches jumped by 837.9%, 828.2% and 347.1% respectively, whereas imports of Face masks plunged by 99.3%. Total merchandise export expanded by 68.3% year-on-year to MOP1.00 billion. Value of re-exports (MOP852 million) surged by 84.4%, of which re-exports of Non-diamond jewellery and Articles for casino leapt by 410.1% and 225.2% respectively. Value of domestic exports (MOP148 million) rose by 12.0%, of which domestic exports of Tobacco rocketed by 3,186.1% while those of Copper & articles thereof declined by 20.4%. Merchandise trade deficit totalled MOP10.24 billion in July.
From January to July this year, total value of merchandise export dropped by 5.2% year-on-year to MOP7.36 billion, of which value of re-exports (MOP6.49 billion) and domestic exports (MOP877 million) fell by 1.5% and 25.9% respectively. Total value of merchandise import grew by 6.0% year-on-year to MOP82.82 billion. Merchandise trade deficit totalled MOP75.45 billion in the first seven months, up by MOP5.10 billion from MOP70.36 billion a year earlier.
Analysed by destination, merchandise export to mainland China (MOP491 million), Hong Kong (MOP5.52 billion), the USA (MOP265 million) and the EU (MOP86 million) declined by 36.9%, 6.4%, 32.8% and 23.8% respectively year-on-year in the first seven months of 2023. Meanwhile, exports to the Portuguese-speaking Countries (MOP490 thousand) slid by 56.8%, while exports to the Belt and Road Countries (MOP255 million) expanded by 15.8%. Exports of Textiles & garments went down by 26.3% year-on-year to MOP779 million, and exports of Non-textiles dipped by 1.9% to MOP6.59 billion.
By place of origin, merchandise import from the EU (MOP27.28 billion), the Belt and Road Countries (MOP18.67 billion) and the Portuguese-speaking Countries (MOP861 million) increased by 1.5%, 31.3% and 66.5% respectively year-on-year in the first seven months of 2023. On the other hand, imports from mainland China (MOP22.13 billion) dropped by 6.7%. Analysed by place of consignment, merchandise import from Hong Kong (MOP67.73 billion) and mainland China (MOP11.43 billion) expanded by 2.9% and 19.7% respectively year-on-year. Imports of Consumer goods went up by 11.8% to MOP63.51 billion, of which imports of Food & beverages (MOP14.43 billion) and Gold jewellery (MOP8.24 billion) rose by 45.9% and 59.2% respectively; meanwhile, imports of Beauty, cosmetic & skincare products (MOP7.85 billion) shrank by 32.2%. Imports of Fuels & lubricants (MOP3.92 billion) and Construction materials (MOP1.77 billion) went up by 9.9% and 9.0% respectively, whereas imports of Mobile phones (MOP3.00 billion) slid by 57.3%.
External merchandise trade totalled MOP90.18 billion from January to July 2023, up by 5.0% compared with MOP85.89 billion a year earlier.
