Macao registers trade deficit of over $3 bln in 2008

Special Report:Global Financial Crisis

MACAO, Feb. 4 (Chinese media) -- Macao Special

Administrative Region (SAR) recorded a trade deficit of 27.01 billion patacas

(3.4 billion U.S. dollars) for the whole of 2008, with the exports/imports ratio

decreasing from 47.4 percent in 2007 to 37.2 percent, according to the figures

released on Wednesday by the SAR's Statistics and Census Service (DSEC).

The DSEC figures showed that the value of merchandise

exports to the Chinese mainland, the United States and the European Union

decreased by 35.1 percent, 22.8 percent, and 57.3 percent respectively

year-on-year, but that to Hong Kong rose by 18.3 percent in 2008.

The value of Textile and garment exports declined by

31.7 percent year-on-year, which accounted for 57.1 percent of the total exports

of goods in 2008. The value of Non-textile exports dropped by 2.2 percent, with

exports of Machines and apparatus, parts and accessories and Footwear falling by

45.2 percent and 65.6 percent year-on-year respectively, but exports of Image

and sound appliances rising by 45.1 percent, according to the figures.

Meanwhile, the total value of imports from the

mainland and Hong Kong amounted to 21.29 billion patacas (2.7 billion dollars),

accounting for 49.4 percent of the total in 2008.

In terms of broad economic categories, the value of

imports of fuels and lubricants and consumer goods expanded by 16.2 percent and

13 percent respectively year-on-year, but that of raw materials and

semi-manufactures and capital goods decreased by 19 percent and 10.6 percent

respectively.