Macao's trade deficit reaches $785m in August

Macao recorded a trade deficit of 6.27 billion patacas (785 million US dollars) in August 2013, as merchandise import increased by 17 percent year on year, according to figures released on Monday by the city's Statistics and Census Service (DSEC). Total merchandise export for August amounted to 719 million patacas (90.02 million US dollars), down by 12 percent year on year to mark the first decline after five consecutive months of increase. Value of re-exports (543 million patacas) and domestic exports (175 million patacas) decreased by 14 percent and 7 percent respectively, the figures showed. Meanwhile, total value of merchandise export in the first eight months of 2013 increased by 12 percent year on year to 6.05 billion patacas (757.46 million US dollars). In a breakdown, value of re-exports increased by 23 percent, but that of domestic exports decreased by 14 percent. Total value of merchandise import increased by 14 percent to 52.39 billion patacas (6.56 billion US dollars). Analyzed by destination, value of merchandise export to Hong Kong and Chinese mainland in the first eight months of 2013 increased by 19 percent and 25 percent respectively year on year, the DSEC said. In the first eight months, value of merchandise import from Chinese mainland and the EU expanded by 14 percent and 12 percent respectively year on year, the figures indicated.