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External Merchandise Trade Statistics for December and the whole year of 2023

Source: DSEC

Information from the Statistics and Census Service (DSEC) indicated that external merchandise trade totalled MOP154.78 billion in 2023, up by 0.9% from MOP153.33 billion in 2022. In 2023, total value of merchandise export dropped by 1.3% year-on-year to MOP13.34 billion, of which value of domestic exports (MOP1.55 billion) declined by 23.2% while value of re-exports (MOP11.79 billion) grew by 2.5%. Total value of merchandise import rose by 1.2% year-on-year to MOP141.44 billion. Merchandise trade deficit totalled MOP128.11 billion in 2023, up by MOP1.82 billion from MOP126.29 billion in 2022.
   
Analysed by destination, merchandise export to mainland China (MOP975 million), Hong Kong (MOP9.53 billion), the USA (MOP438 million) and the EU (MOP151 million) decreased by 25.5%, 7.5%, 28.1% and 8.8% respectively year-on-year in 2023, whereas exports to the Belt and Road Countries (MOP772 million) increased by 47.8%. Exports of Textiles & garments went down by 24.4% year-on-year to MOP1.31 billion, while exports of Non-textiles grew by 2.1% to MOP12.03 billion.

By place of origin, merchandise import from the Belt and Road Countries (MOP30.92 billion) and Hong Kong (MOP7.19 billion) rose by 18.0% and 41.3% respectively year-on-year in 2023, while those from the EU (MOP44.61 billion) and mainland China (MOP40.51 billion) dipped by 2.7% and 4.6% respectively. Analysed by place of consignment, merchandise import from mainland China (MOP20.89 billion) grew by 19.5% year-on-year, whereas imports from Hong Kong (MOP113.98 billion) fell by 2.8%. Imports of Consumer goods went up by 4.5% to MOP106.30 billion, of which imports of Food & beverages (MOP23.69 billion) and Gold jewellery (MOP14.46 billion) expanded by 20.2% and 47.3% respectively; meanwhile, imports of Beauty, cosmetic & skincare products (MOP13.15 billion) shrank by 32.1%. Imports of Fuels & lubricants (MOP7.15 billion) and Construction materials (MOP3.04 billion) grew by 15.7% and 4.2% respectively, whereas imports of Mobile phones (MOP5.27 billion) slid by 51.7%.
   
Analysed by month, total merchandise export amounted to MOP1.09 billion in December, up by 31.8% year-on-year. Value of re-exports (MOP956 million) expanded by 43.2%, of which re-exports of Diamond & diamond jewellery and Beauty, cosmetic & skincare products jumped by 312.0% and 93.6% respectively, while those of Articles for casino and Red wine declined by 73.8% and 63.3% respectively. Value of domestic exports (MOP130 million) decreased by 16.9%, of which domestic exports of Copper & articles thereof and Garments reduced by 25.4% and 25.3% respectively, while those of Bread, pastry, cakes, biscuits & other bakers’ wares and Pharmaceutical products & organic chemicals grew by 68.1% and 40.9% respectively. Meanwhile, total merchandise import went up by 0.2% year-on-year to MOP11.92 billion; imports of Articles for casino, Motor cars and Gold jewellery showed respective growth of 412.4%, 110.1% and 53.5%, whereas imports of Mobile phones and Beauty, cosmetic & skincare products dropped by 62.4% and 24.1% respectively. Merchandise trade deficit totalled MOP10.84 billion in December.
   
In the fourth quarter of 2023, total value of merchandise export (MOP3.83 billion) rose by 13.0% year-on-year while that of merchandise import (MOP36.08 billion) fell by 4.0%, resulting in a trade deficit of MOP32.25 billion.