T merchandise exports grew 17.2% year-on-year to MOP1.16 billion in August 2024. Re-exports, which account for the majority of exports, rose 22.1% to MOP1.03 billion, driven by strong growth in demand for non-diamond jewelry and perfumes.
However, domestic exports fell 12.0% to MOP124 million, with decreases in pharmaceutical products and bread products, according to data from the Statistics and Census Service (DSEC).
On the import side, total merchandise imports dropped 7.4% year-on-year to MOP10.41 billion in August. Imports of gold jewelry and beauty products fell, while imports of casino articles and motor vehicles increased.
Year-to-date, external merchandise trade totaled MOP93.68 billion from January to August 2024, down 8.1% compared to the same period in 2023. Total exports grew 7.1% to MOP8.94 billion, though domestic exports slipped 3.2%. Imports declined 9.5% to MOP84.74 billion.
By destination, exports to Hong Kong, Belt and Road countries, and the EU increased, while shipments to mainland China and the US contracted. Imports from the EU, mainland China, and Belt and Road countries decreased, but imports from Japan increased. LV
