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Trade results fail to reach the mark
02
Feb '08
According to the Ministry of Commerce, China, trade with Macao Special Administrative Region (MSAR) reached nearly US $2.92 billion in 2007, marking a year on year increase of 19.8 percent.

By the end of 2007, direct investment by MSAR in China alone, amounted to $7.65 billion in 11,553 projects that were initiated as early as 1978.

However, on an average Macao's total export for 2007 sloped down by 0.2 percent compared to the previous year ushering a trade deficit of 22.68 billion patacas (around US $2.8 billion). Imports on the other hand grew by 18 percent and the value of footwear products fell by about 1.7 percent.

Further, statistics also show that although textile sector accounted for about 65.6 percent of Macao's total exports, the value of textile and garment exports in 2007 declined by 8.6 percent compared to 2006.

Macao's primary export regions undoubtedly include the United States and the European Union which together consumed about 58.8 percent of the total value of its exports. However, the rate of consumption by both the regions has declined by 8.1 percent and 6.9 percent respectively.

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