Macao's trade deficit reaches $8.99bn

 Macao recorded a trade deficit of 71. 92 billion patacas (8.99 billion U.S. dollars) in the whole year of 2013, up by 14.58 percent over previous year, according to the latest figures released by the city's Statistics and Census Service (DSEC). In 2013, Macao's total value of merchandise export increased by 11 percent year-on-year to 9.09 billion patacas (1.14 billion U. S. dollars); value of domestic exports (2.01 billion patacas) shrank by 12 percent year-on-year, whereas value of re-exports (7. 08 billion patacas) increased by 21 percent, with its share in total merchandise export rising to 78 percent. Domestic demand and visitor spending expanded, bringing the total value of merchandise import up by 14 percent year-on-year to a record high of 81.01 billion patacas (10.13 billion U.S. dollars) in 2013,the figures showed. Analyzed by destination, value of merchandise export to Hong Kong and the Chinese mainland increased by 19 percent and 17 percent respectively year-on-year, but that to the United States and the EU decreased by 28 percent and 11 percent respectively year-on-year in 2013, the DSEC said. For the whole year of 2013, total value of external merchandise trade amounted to 90.11 billion patacas (11.26 billion U.S. dollars), up by 14 percent compared with 79.09 billion patacas (9. 89 billion U.S. dollars) in 2012, according to DSEC.