Results of the External Trade Statistics for May 2007

Information from the Statistics and Census Service indicated that Macao’s total value of exports amounted to MOP1.79 billion in May 2007, down by 2.9% over the same month of 2006. Among this, the value of domestic exports dropped by 18.7% to MOP1.08 billion, while the value of re-exports increased by 37.6% to MOP708 million. Total value of imports amounted to MOP3.67 billion, up by 13.4% year-on-year. A trade deficit of MOP1.89 billion was recorded for May 2007. During the period of January-May 2007, the value of total exports dropped by 7.1% year-on-year to MOP7.68 billion, of which the value of domestic exports fell by 20.5% whereas the value of re-exports rose by 28.7%. Meanwhile, the value of imports grew by 16.9% to MOP16.45 billion, bringing a trade deficit of MOP8.77 billion. The exports/imports ratio decreased from 58.7% in the first five months of 2006 to 46.7% in the same period of 2007. In the first five months of 2007, the value of Textile & garment exports, which accounted for 62.1% of the total exports, decreased by 22.9% over the same period of 2006; however, value of Non-textile exports rose by 40.4%, of which Machines & apparatus, parts & accessories thereof and Footwear, the major components of non-textile exports, surged by 115.5% and 55.8% respectively. The USA and the EU remained as Macao’s major export markets, together making up 56.1% of the total value of exports. Within this, the value of exports to the USA, which made up 40.6% of the total, registered a year-on-year decrease of 22.8%; the value of exports to the EU, which took up 15.5% of the total, decreased by 18.4% year-on-year. In the first five months of 2007, Macao’s total value of imports grew by 16.9% year-on-year, on account of the increases in the value of imports of, by broad economic categories, Capital goods (+49.0%), Consumer goods (+14.8%), Fuels & lubricants (+13.2%) and Raw materials & semi-manufactures (+3.1%). Moreover, Macao’s main suppliers of imported goods still concentrated in the Asian region. The value of imports from Mainland China and Hong Kong, comprising 52.6% of the total, rose by 11.5% and 12.6% respectively year-on-year.