Macau’s trade deficit in the first quarter of 2016 reached 14.602 billion patacas (US$1.825 billion), a year on year improvement of 25.3 per cent, reported the Statistics and Census Bureau.
According to the Bureau, the trade deficit in the first quarter of 2015 totalled 19.5516 billion patacas.
In the first three months of 2016, Macau exported goods worth 2.697 billion patacas (almost the same amount as the 2.699 billion patacas recorded in 2015) and imported goods worth 17.300 billion patacas, a drop of 7.651 billion patacas compared to the amount recorded in the same period of 2015.
Among the imported products in the 1st quarter, the Bureau noted a downturn in the imports of wristwatches (1.06 billion patacas or -38.8 per cent) and passenger cars and motorcycles (339 million patacas or -48.2 per cent), fuels and lubricants (1.34 billion patacas or -19.9 per cent), mobile phones (1.30 billion patacas or -51.8 per cent) and building materials (489 million patacas or -39.3 per cent).
In March, Macau’s trade deficit reached 4.479 billion patacas, with exports falling 3.9 per cent to 1.014 billion patacas and imports reaching 5.493 billion patacas, or an annual contraction of 23.2 per cent.