External Merchandise Trade Statistics for November 2008

Information from the Statistics and Census Service indicated that the value of total imports and exports of goods continued to decline in November 2008. The value of total exports of goods amounted to MOP1.07 billion, down by 42.6% year-on-year, with the value of domestic exports decreasing by 56.3% to MOP564 million and that of re-exports dropping by 11.7% to MOP504 million. The value of total imports of goods amounted to MOP3.39 billion, down by 15.1% year-on-year. A trade deficit of MOP2.32 billion was recorded for November 2008. From January to November 2008, total exports of goods fell by 18.7% year-on-year to MOP15.12 billion, with the value of domestic exports and re-exports declining by 25.9% and 4.8% respectively. Meanwhile, total imports of goods rose slightly by 0.9% to MOP39.69 billion, and the trade deficit for the first eleven months of 2008 reached MOP24.57 billion. The exports/imports ratio decreased from 47.3% in the first eleven months of 2007 to 38.1% in the same period of 2008. The value of Textile & garment exports declined by 28.7% year-on-year and its relative importance decreased further to account for 57.4% of the total exports of goods in the first eleven months of 2008; however, the value of Non-textile exports grew slightly by 0.1%, with exports of Image & sound appliances rising by 43.7%, but exports of Machines & apparatus, parts & accessories thereof and Footwear falling by 46.2% and 64.3% respectively. In the first eleven months of 2008, the value of merchandise exports to the USA, Mainland China and the EU decreased by 18.7%, 36.6% and 56.0% respectively year-on-year, but that to Hong Kong rose by 22.1%. The value of imports from Mainland China and Hong Kong amounted to MOP19.75 billion, accounting for 49.7% of the total imports in the first eleven months of 2008. In terms of broad economic categories, the value of imports of Fuels & lubricants and Consumer goods expanded by 18.1% and 14.9% respectively year-on-year, but that of Raw materials & semi-manufactures and Capital goods decreased by 19.3% and 8.9% respectively.