External Merchandise Trade Statistics for March 2022

Source：DSEC

Information from the Statistics and Census Service (DSEC) indicated that total merchandise export amounted to MOP1.43 billion in March 2022, up by 10.6% year-on-year. Value of re-exports (MOP1.27 billion) grew by 12.4%, with that of Beauty, cosmetic & skincare products and Non-diamond jewellery surging by 130.8% and 127.2% respectively. Value of domestic exports (MOP163 million) dropped by 1.6%, with that of Bread, pastry, cakes, biscuits & other bakers’ wares declining by 47.5%. Meanwhile, total merchandise import went up by 22.3% year-on-year to MOP13.88 billion; imports of Beauty, cosmetic & skincare products and Food & beverages expanded by 49.2% and 41.4% respectively, whereas imports of Articles for casino and Perfumes fell by 32.5% and 24.4% respectively. Merchandise trade deficit in March 2022 totalled MOP12.45 billion.

In the first quarter of 2022, total value of merchandise export increased by 12.3% year-on-year to MOP3.88 billion, of which value of re-exports (MOP3.37 billion) and domestic exports (MOP504 million) went up by 11.4% and 18.5% respectively. Total value of merchandise import expanded by 30.5% year-on-year to MOP38.48 billion. Merchandise trade deficit totalled MOP34.60 billion for the first quarter of 2022, up by MOP8.57 billion from MOP26.03 billion a year earlier.

Analysed by destination, merchandise export to Hong Kong (MOP3.10 billion), the USA (MOP147 million) and the EU (MOP52 million) showed respective year-on-year growth of 20.7%, 13.4% and 9.2% in the first quarter. Meanwhile, exports to mainland China fell by 35.0% year-on-year to MOP281 million, of which exports to the Nine Provinces of the Pan Pearl River Delta (MOP248 million) decreased by 36.7%. Exports to the Belt and Road Countries (MOP99 million) and the Portuguese-speaking Countries (MOP325 thousand) expanded by 14.6% and 11.6% respectively. Exports of Textiles & garments increased by 40.2% year-on-year to MOP455 million, while exports of Non-textiles went up by 9.4% to MOP3.42 billion.

By place of origin, merchandise import from the EU (MOP14.36 billion) and mainland China (MOP11.01 billion) rose by 49.4% and 10.1% respectively year-on-year in the first quarter. Imports from the Belt and Road Countries (MOP7.13 billion) and the Portuguese-speaking Countries (MOP213 million) increased by 24.0% and 31.0% respectively. Analysed by place of consignment, merchandise import from Hong Kong (MOP33.54 billion) expanded by 37.9% year-on-year. On the other hand, imports from mainland China dropped by 5.6% to MOP3.72 billion, with imports from the Nine Provinces of the Pan Pearl River Delta (MOP3.67 billion) decreasing by 4.8%. Imports of Consumer goods grew by 34.0% to MOP28.55 billion, of which imports of Beauty, cosmetic & skincare products (MOP6.22 billion), Food & beverages (MOP4.10 billion) and Gold jewellery (MOP2.98 billion) recorded an uplift of 101.0%, 29.9% and 56.6% respectively. Imports of Mobile phones (MOP4.06 billion) and Fuels & lubricants (MOP1.42 billion) went up by 25.8% and 17.0% respectively, whereas imports of Construction materials (MOP625 million) dipped by 6.9%.

External merchandise trade totalled MOP42.36 billion in the first quarter of 2022, up by 28.6% compared with MOP32.94 billion a year earlier.