Imports rise 17pct in August

2013-10-3

From：Macau Daily Times

Total merchandise exports for August 2013 have decreased 12 percent year-on-year to MOP719 million. However, total merchandise imports rose to MOP6.99 billion, a 17 percent surge according to the Statistics and Census Service. Analyzing the figures during the last eight months by destination, exports to the United States have fallen 30 percent. Exports to the European Union also saw a decrease of 16 percent. However, exports to Hong Kong and mainland China have both increased, with exports to the mainland rising by a quarter to MOP1.09 billion. Amongst the merchandise exported between January and August, the goods that scored the largest increase in export value were electronic components, and diamonds and jewelry, surging 86 percent and 121 percent respectively, with a combined export value of over MOP1 billion.  Despite the drop in August, total merchandise exports during the first eight months of 2013 actually rose 12 percent to MOP6.5 billion. The president of the Macau Importers & Exporters Association, Mr. Tsui Wai Kwan, revealed that Macau exports are mainly led by re-exportation. “Many goods from mainland China are exported to the world via Macau. There are only very few goods that are purely made in Macau.” He also explained that the drop in exports is merely a phenomenon in the economic cycle. “August and September are always the low season in the cycle…It is seasonal,” Mr Tsui told the Times.

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