Feature

Analysis on Merchandise Trade between Macao and Portuguese-speaking Countries in 2020

In 2020, the total bilateral trade in merchandise between Macao and Portuguese-speaking Countries was valued at MOP 710.4 million, a decrease of 16.0% year-on-year. Based on the situation of its merchandise trade, the following characteristics can be revealed: first, the total bilateral trade value mentioned hereinabove is predominantly composed by the imports from the Portuguese-speaking Countries, especially from Brazil and Portugal; second, Macao’s exports to Portuguese-speaking Countries have experienced a significant increase; third, trade deficit has been reduced to some extent.

According to the analysis on the situation of Macao’s merchandise imports from Portuguese-speaking Countries during 2020, the top three commodity categories with the largest trade value in descending order were the 1^st section “Live animals; animal products” (MOP442.6 million), the 4^th section “Prepared foodstuffs; beverages, spirits and vinegar; tobacco and manufactured tobacco substitutes” (MOP99.9 million) and the 11^th section “Textiles and textile articles” (MOP74.6 million). At the same time, the value of Macao’s imports of foodstuffs from Portuguese-speaking Countries reached approximately MOP560 million in 2020, down by 15.3% year-on-year, in which account for around 80% of merchandise imports from Portuguese-speaking Countries to Macao.

In addition, by analyzing the situation of merchandise exports from Macao to Portuguese-speaking Countries during 2020, it was found that the Pharmaceutical products and Organic chemicals achieved the largest export value of MOP11.2 million, increased by 16 times comparing with last year, and it also accounted for 91% of merchandise exports from Macao to Portuguese-speaking Countries.

In conclusion, being affected by the coronavirus pandemic, the total bilateral trade between Macao and Portuguese-speaking Countries had experienced the largest decline over the past ten years. Since the current global epidemic situation is still unstable, there may exist many uncertainties in the merchandise trade between Macao and Portuguese-speaking Countries. Nevertheless, Macao and the Portuguese-speaking Countries have maintained close economic and trade relations over the centuries, together with the great support of the Central Government of China, the Macao SAR Government has expanded great effort to develop the Commercial and Trade Co-operation Service Platform between China and Portuguese-Speaking Countries. Looking ahead, the merchandise trade between Macau and Portuguese-speaking Countries is still resilient and has development potential.