Information from the Statistics and Census Service (DSEC) indicated that external merchandise trade totalled MOP142.15 billion in 2024, down by 8.2% from MOP154.78 billion in 2023. In 2024, total value of merchandise exports rose by 1.1% year-on-year to MOP13.49 billion, of which value of re-exports (MOP12.00 billion) increased by 1.8% while value of domestic exports (MOP1.49 billion) decreased by 4.0%. Total value of merchandise imports dropped by 9.0% year-on-year to MOP128.67 billion. Merchandise trade deficit totalled MOP115.18 billion in 2024, down by MOP12.93 billion from MOP128.11 billion in 2023.
Analysed by destination, merchandise exports to the Hong Kong Special Administrative Region (Hong Kong SAR) (MOP9.60 billion) and the EU (MOP216 million) expanded by 0.7% and 42.9% respectively year-on-year in 2024, whereas exports to mainland China (MOP748 million), the Belt and Road Countries (MOP667 million) and the USA (MOP302 million) dropped by 23.3%, 13.7% and 31.1% respectively. As regards commodity, exports of Textiles & garments grew by 16.0% year-on-year to MOP1.52 billion, while exports of Non-textiles went down by 0.5% to MOP11.97 billion.
By place of origin, merchandise imports from mainland China (MOP39.47 billion), the EU (MOP37.61 billion) and the Belt and Road Countries (MOP29.52 billion) decreased by 2.6%, 15.7% and 4.5% respectively year-on-year in 2024, while those from Japan (MOP9.12 billion) increased by 6.2%. Analysed by place of consignment, merchandise imports from mainland China (MOP20.96 billion) grew by 0.3% year-on-year, whereas imports from the Hong Kong SAR (MOP100.60 billion) fell by 11.7%. In terms of commodity, imports of Consumer goods went down by 14.3% to MOP91.10 billion, of which imports of Food & beverages (MOP22.27 billion), Garments & footwear (MOP12.88 billion) and Gold jewellery (MOP10.26 billion) shrank by 6.0%, 3.7% and 29.0% respectively. Imports of Fuels & lubricants (MOP7.87 billion) rose by 10.2%, whereas imports of Mobile phones (MOP4.53 billion) and Construction materials (MOP1.99 billion) dropped by 13.9% and 34.4% respectively.
Analysed by month, total merchandise exports amounted to MOP1.06 billion in December 2024, down by 2.8% year-on-year. Value of re-exports fell by 3.2% to MOP926 million, of which re-exports of Diamond & diamond jewellery and Beauty, cosmetic & skincare products slid by 63.3% and 41.5% respectively, while those of Wines and Garments went up by 157.6% and 45.7% respectively. Value of domestic exports rose by 0.2% to MOP130 million, of which domestic exports of Pharmaceutical products & organic chemicals and Copper & articles thereof grew by 8.5% and 0.9% respectively, while those of Garments and Bread, pastry, cakes, biscuits & other bakers' wares reduced by 29.5% and 0.4% respectively. Meanwhile, total merchandise imports dipped by 6.7% year-on-year to MOP11.13 billion; imports of Construction materials, Gold jewellery and Handbags & wallets declined by 55.9%, 32.4% and 22.0% respectively, whereas imports of Mobile phones and Articles for casino surged by 76.0% and 72.2%. Merchandise trade deficit totalled MOP10.07 billion in December.
In the fourth quarter of 2024, total value of merchandise exports (MOP3.39 billion) and merchandise imports (MOP33.71 billion) fell by 11.5% and 6.6% respectively year-on-year, resulting in a trade deficit of MOP30.32 billion.
