Macao’s imports of food and beverages fell by 26.2 per cent year-on-year to MOP 6.68 billion (US$835 million) in the first eight months of the year, the Statistics and Census Bureau (DSEC) announced this week.
Trade sources have told the Macau Post Daily that the decline was mainly due to the steep fall in visitor arrivals since late January due to the COVID-19 epidemic.
On the other hand, imports of beauty, cosmetic and skincare products rose by 61.3 per cent to MOP 6.45 billion in the eight-month period.
F&B products and beauty, cosmetic & skincare products were Macao’s two major imported goods segments between January and August.
Macao’s imports totalled MOP 45.34 billion in the first eight months, down by 19.6 per cent. Exports decreased by 17.2 per cent to MOP 6.92 billion, resulting in an external merchandise trade deficit of MOP 38.42 billion.
Domestic exports accounted for 86 per cent of Macao’s total exports.
The Chinese mainland, France, Japan and Italy were Macao’s main suppliers of imported goods between January and August, accounting for 33.8 per cent, 11.9 per cent, 9.8 per cent and 9.1 per cent of all imports respectively.
Most of Macao’s exports went to Hong Kong (68.4 percent of the total) and mainland China (15.8 per cent). A mere 1.8 per cent of Macao’s exports were shipped to the EU.
Macao is a free port, separate customs territory and a founder member of the World Trade Organisation (WTO).