Information from the Statistics and Census Service (DSEC) indicated that total merchandise export amounted to MOP1.19 billion in March 2023, down by 16.7% year-on-year. Value of re-exports (MOP1.07 billion) dropped by 15.4%, of which re-exports of Electronic components and Watches declined by 71.8% and 52.1% respectively, while those of Articles for casino and Beauty, cosmetic & skincare products jumped by 543.3% and 84.5% respectively. Value of domestic exports (MOP120 million) shrank by 26.6%, with domestic exports of Garments and Copper & articles thereof falling by 53.9% and 51.9% respectively. Meanwhile, total merchandise import went down by 7.0% year-on-year to MOP12.85 billion; imports of Mobile phones, Beauty, cosmetic & skincare products and Watches reduced by 76.9%, 59.8% and 19.3% respectively, whereas imports of Gold jewellery and Food & beverages showed respective growth of 92.1% and 60.5%. Merchandise trade deficit totalled MOP11.66 billion in March.
In the first quarter of 2023, total value of merchandise export fell by 18.6% year-on-year to MOP3.16 billion, of which value of re-exports (MOP2.85 billion) and domestic exports (MOP310 million) dropped by 15.6% and 38.6% respectively. Total value of merchandise import decreased by 6.4% year-on-year to MOP35.72 billion. Merchandise trade deficit totalled MOP32.56 billion in the first quarter, down by MOP1.72 billion from MOP34.28 billion a year earlier.
Analysed by destination, merchandise export to mainland China (MOP190 million), Hong Kong (MOP2.48 billion), the USA (MOP71 million) and the EU (MOP27 million) decreased by 31.9%, 19.9%, 51.9% and 48.4% respectively year-on-year in the first quarter. Meanwhile, exports to the Belt and Road Countries (MOP119 million) expanded by 20.1%, while exports to the Portuguese-speaking Countries (MOP67 thousand) slid by 79.5%. Exports of Textiles & garments went down by 30.8% year-on-year to MOP315 million, and exports of Non-textiles dipped by 16.9% to MOP2.84 billion.
By place of origin, merchandise import from the EU (MOP12.38 billion) and mainland China (MOP9.52 billion) both reduced by 13.3% year-on-year in the first quarter, while those from the Belt and Road Countries (MOP8.24 billion) and the Portuguese-speaking Countries (MOP372 million) rose by 16.0% and 74.2% respectively. Analysed by place of consignment, merchandise import from Hong Kong (MOP29.82 billion) dropped by 10.2% year-on-year, whereas imports from mainland China (MOP4.45 billion) increased by 19.7%. Imports of Consumer goods went down by 2.7% to MOP27.46 billion, of which imports of Beauty, cosmetic & skincare products (MOP3.53 billion) and Garments & footwear (MOP3.46 billion) shrank by 43.3% and 10.3% respectively; on the other hand, imports of Food & beverages (MOP5.99 billion) and Gold jewellery (MOP3.50 billion) expanded by 46.3% and 23.9% respectively. Imports of Mobile phones (MOP1.67 billion) declined by 58.8%, whereas imports of Fuels & lubricants (MOP1.47 billion) and Construction materials (MOP663 million) grew by 2.8% and 6.2% respectively.
External merchandise trade totalled MOP38.87 billion in the first quarter, down by 7.5% compared with MOP42.03 billion a year earlier.