Macao registers trade deficit of $2.8 bln for first 10 months

MACAO, Dec. 1-- Macao's trade deficit for the first ten months of 2008 reached 22.24 billion patacas (2.8 billion U.S. dollars), with exports/imports ratio decreasing from 47.4 percent in the first ten months of 2007 to 38.7 percent in the same period of 2008, according to the figures Monday released by the city's Statistics and Census Service (DSEC).



The DSEC said that total exports of goods fell by 16.1 percent year-on-year to 14.06 billion patacas (1.76 billion dollars) in the period, while total imports of goods grew by 2.7 percent to 36.3 billion patacas (4.54 billion dollars).



The value of Textile and garment exports declined by 25.3 percent year-on-year and its relative importance decreased further to account for 58.1 percent of the total exports of goods in the period.



However, the value of Non-textile exports grew slightly by 1.4 percent, with exports of Image and sound appliances rising by 47.6percent, but exports of Machines, apparatus, parts and accessoriesthereof and Footwear falling by 47.8 percent and 63 percent respectively.



In the first ten months of 2008, the value of merchandise exports to the United States, the Chinese mainland and the European Union decreased by 15 percent, 37.5 percent and 53.6 percent respectively year-on-year, but that to Hong Kong rose by 22.5 percent, the DSEC said.

MINISTRY OF COMMERCE