Information from the Statistics and Census Service (DSEC) indicated that total merchandise export amounted to MOP1.03 billion in February 2023, up by 2.3% year-on-year. Value of re-exports (MOP934 million) grew by 7.7%, of which re-exports of Articles for casino and Beauty, cosmetic & skincare products jumped by 262.0% and 134.5% respectively, while those of Diamond & diamond jewellery and Watches declined by 42.5% and 37.2% respectively. Value of domestic exports (MOP99 million) shrank by 30.3%, of which domestic exports of Garments and Copper & articles thereof tumbled by 45.9% and 42.8% respectively. Meanwhile, total merchandise import went up by 18.6% year-on-year to MOP12.39 billion; imports of Electronic components, Construction materials and Food & beverages surged by 213.6%, 124.3% and 94.8% respectively, whereas imports of Mobile phones and Beauty, cosmetic & skincare products reduced by 37.5% and 32.1% respectively. Merchandise trade deficit in February 2023 totalled MOP11.36 billion.
From January to February this year, total value of merchandise export decreased by 20.9% year-on-year to MOP1.93 billion, of which value of re-exports (MOP1.74 billion) and domestic exports (MOP188 million) dropped by 17.0% and 44.9% respectively. Total value of merchandise import fell by 6.2% year-on-year to MOP22.83 billion. For the first two months of 2023, merchandise trade deficit totalled MOP20.90 billion, down by MOP1.00 billion from MOP21.90 billion a year earlier.
Analysed by destination, merchandise export to mainland China (MOP123 million), Hong Kong (MOP1.53 billion), the USA (MOP36 million) and the EU (MOP16 million) decreased by 28.6%, 21.5%, 59.4% and 65.5% respectively year-on-year in the first two months of 2023. On the other hand, exports to the Belt and Road Countries (MOP62 million) grew by 8.2%. Exports of Textiles & garments went down by 27.8% year-on-year to MOP180 million, and exports of Non-textiles dipped by 20.1% to MOP1.75 billion.
By place of origin, merchandise import from the EU (MOP8.02 billion) and mainland China (MOP6.16 billion) in the first two months of 2023 reduced by 13.5% and 11.7% respectively year-on-year. In contrast, imports from the Belt and Road Countries (MOP5.15 billion) and the Portuguese-speaking Countries (MOP230 million) rose by 11.4% and 74.1% respectively. Analysed by place of consignment, merchandise import from Hong Kong (MOP19.24 billion) dropped by 10.0% year-on-year, whereas imports from mainland China (MOP2.76 billion) grew by 26.6%. Imports of Consumer goods went down by 4.7% to MOP17.38 billion, of which imports of Beauty, cosmetic & skincare products (MOP2.53 billion), Garments & footwear (MOP2.22 billion) and Watches (MOP1.64 billion) shrank by 32.4%, 12.4% and 8.4% respectively; on the other hand, imports of Food & beverages (MOP3.71 billion) expanded by 38.5%. Imports of Mobile phones (MOP1.36 billion) declined by 49.5%, whereas imports of Fuels & lubricants (MOP885 million) and Construction materials (MOP378 million) increased by 1.0% and 13.5% respectively.
External merchandise trade totalled MOP24.76 billion from January to February 2023, down by 7.5% compared with MOP26.78 billion a year earlier.