Information from the Statistics and Census Service indicated that the value of total merchandise imports and exports has declined for the fifth consecutive month. The value of total exports of goods amounted to MOP913 million in December, down significantly by 50.0% year-on-year, with the value of domestic exports decreasing by 60.3% to MOP503 million and that of re-exports dropping by 26.6% to MOP410 million. The value of total imports of goods amounted to MOP3.27 billion, down by 13.3% year-on-year. A trade deficit of MOP2.36 billion was recorded for December 2008.

For the whole year of 2008, total merchandise exports fell by 21.6% year-on-year to MOP16.03 billion, the lowest value since 1996, with the value of domestic exports and re-exports declining by 29.1% and 6.8% respectively; meanwhile, total merchandise imports dropped slightly by 0.2% to MOP43.03 billion. The trade deficit for 2008 reached MOP27.01 billion and the exports/imports ratio also decreased from 47.4% in 2007 to 37.2%.

In 2008, the value of merchandise exports to the USA, Mainland China and the EU decreased by 22.8%, 35.1% and 57.3% respectively year-on-year, but that to Hong Kong rose by 18.3%.

The value of Textile & garment exports declined by 31.7% year-on-year to account for 57.1% of the total exports of goods in 2008, down from 65.6% in 2007; meanwhile, the value of Non-textile exports dropped by 2.2%, with exports of Machines & apparatus, parts & accessories thereof and Footwear falling by 45.2% and 65.6% respectively, but exports of Image & sound appliances rising by 45.1%.

The value of imports from Mainland China and Hong Kong amounted to MOP21.29 billion, accounting for 49.4% of the total imports in 2008. In terms of broad economic categories, the value of imports of Fuels & lubricants and Consumer goods expanded by 16.2% and 13.0% respectively year-on-year, but that of Raw materials & semi-manufactures and Capital goods decreased by 19.0% and 10.6% respectively.