CHINA Macao's merchandise export drops 15.5 pct in 2020

CHINA

Macao's merchandise export drops 15.5 pct in 2020

Xinhua

18:18, January 30, 2021

MACAO, Jan. 30 (Xinhua) - The total merchandise export of Macao decreased by 15.5 percent year on year to 10.81 billion patacas (about 1.35 billion U.S. dollars) in 2020, the special administrative region's statistical service has said.

(File photo: CFP)

The latest report from the Statistics and Census Service (DSEC) showed that the value of re-exports dropped by 18.0 percent to 9.25 billion patacas, but that of domestic exports grew by 3.4 percent to 1.56 billion patacas.

In 2020, merchandise trade deficit totaled 81.75 billion patacas, up by 4.42 billion patacas from 2019, indicated the report.

Analyzed by destination, merchandise export to the Hong Kong Special Administrative Region and the European Union in 2020 fell by 8.6 percent and 9.7 percent year on year to 7.46 billion and 178 million patacas respectively, added the report.

On the other hand, exports to the mainland and the United States increased by 2.5 percent and 88.4 percent year on year to 1.62 billion and 554 million patacas respectively, whereas exports to the Belt and Road countries decreased by 14.5 percent to 303 million patacas.

Meanwhile, exports to the Portuguese-speaking countries soared by 867.4 percent to 12 million patacas.

Exports of textiles and garments expanded by 52.6 percent year on year to 1.62 billion patacas, while exports of non-textiles slid by 21.7 percent to 9.19 billion patacas, showed the report.

It also showed that merchandise export in December 2020 amounted to 1.21 billion patacas, up by 10.3 percent year on year. Value of re-exports grew by 11.3 percent to 1.04 billion patacas, with that of diamond and diamond jewelery soaring by 610.5 percent. Meanwhile, value of domestic exports went up by 4.5 percent to 167 million patacas, with that of garments increasing by 14.3 percent. (one pataca equals 0.1252 U.S. dollar)

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