Macau’s imports of food and beverages fell by 26.2 percent year-on-year to 6.68 billion patacas (US$835 million) in the first eight months of the year, the Statistics and Census Bureau (DSEC) announced last 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 percent to 6.45 billion patacas in the eight-month period.
F&B products and beauty, cosmetic & skincare products were Macau’s two major imported goods segments between January and August.
Macau’s imports totalled 45.34 billion patacas in the first eight months, down by 19.6 percent. Exports decreased by 17.2 percent to 6.92 billion patacas, resulting in an external merchandise trade deficit of 38.42 billion patacas.
Domestic exports accounted for 86 percent of Macau’s total exports.
Mainland China, France, Japan and Italy were Macau’s main suppliers of imported goods between January and August, accounting for 33.8 percent, 11.9 percent, 9.8 percent and 9.1 percent of all imports respectively.
Most of Macau’s exports went to Hong Kong (68.4 percent of the total) and mainland China (15.8 percent). A mere 1.8 percent of Macau’s exports were shipped to the EU.
Macau is a free port, separate customs territory and a founder member of the Geneva-based World Trade Organisation (WTO), member of the Brussels-based World Customs Organisation (WCO) and associate member of the Bangkok-based UN Economic and Social Commission for Asia and the Pacific (ESCAP).
