Imports up by 6.3pct in 2017
In December 2017 total merchandise imports recorded a growth of 17.2 percent year-on-year to reach MOP7.95 billion and total merchandise exports grew 20.1 percent year-on-year to MOP905 million, according to information released this week by the Statistics and Census Service. The merchandise trade deficit in December (amount to which the total import value exceeds the total export value) came to MOP7.04 billion.
During December, imports of mobile phones, cars and motorcycles, and construction materials expanded by 137 percent, 32.3 percent and 31.6 percent respectively.
For the fourth quarter of 2017, the total value of merchandise imports (MOP21.69 billion) and merchandise exports (MOP2.72 billion) grew by 10.6 percent and 17.8 percent year-on- year respectively.
Merchandise imports in 2017 grew by 6.3 percent to MOP75.85 billion in comparison to the previous year, while merchandise exports increased 12.3 percent to MOP11.28 billion. The merchandise trade deficit for the year totaled MOP64.57 billion.
Analyzed by place of origin, merchandise imports came mostly from mainland China (MOP25.7 billion) and the European Union (MOP19.09 billion). The value of imports from the EU soared by 12 percent last year, while that from the mainland dipped by 0.6 percent.
Imports from Portuguese- speaking countries amounted to MOP648 million, down 2.7 percent when compared to 2016.
Analyzed by destination, merchandise exports to mainland China increased by 21.1 percent year-on-year to MOP2.12 billion in 2017.
Exports to the nine provinces of the Pan-Pearl River Delta region (MOP1.9 billion) grew by 15.8 percent. Exports to Hong Kong (MOP6.6 billion), the EU (MOP190 million) and the U.S. (MOP186 million) rose by 18.7 percent, 8.6 percent and 18.9 percent respectively.