Macau-PRC trade for Jan-Oct slows

2014/12/1

From:Macau Business Daily

With Macau’s exports of goods to mainland China sharply declining in the first ten months of this year, the growth pace of the bilateral trade between the city and mainland has been much slower when compared to the same period last year, the latest data released by China’s Ministry of Commerce shows.
In October alone, the value of bilateral trade of goods traded between Macau and mainland China rose year-on-year by 17 percent to US$340 million (2 billion yuan or 2.7 billion patacas), a month that saw the mainland’s exports to here rise 26 percent to US$330 million, while the city’s exports to the mainland declined 62 percent to US$10 million.
For the first ten months of this year, the bilateral trade value between the two places at US$2.98 billion represented a year-on-year rise of only 1.36 per cent, a much slower growth pace when compared to the nearly 28 per cent seen for the same period last year as the growth of mainland’s exports to here decelerates, while Macau saw less exports to its most important trade partner, data from the ministry shows.
The value of the mainland’s exports to here reached US$2.82 billion for the January-October period, a rise of only 7.6 per cent from the US$2.62 billion in the same period last year when the city saw 23 per cent year-on-year growth in mainland exports value. For Macau’s exports to mainland in the first ten months of this year, ministry data showed that the value had dropped by an annual 62 per cent to US$160 million.
Meanwhile, some 30 investment projects from Macau companies were approved by mainland authorities in October, involving a total value of US$40 million.
For the first ten months of this year, 296 investment projects from Macau companies were approved by the mainland, involving some US$470 million, representing a year-on-year rise of nearly 12 percent.

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