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Textile & garment exports drop in 2006

Feb '07
Macau - Statistics and Census Service releases the results of the External Trade Statistics for December 2006. It indicated that in December 2006, Macao's total value of exports amounted to MOP1.59 billion, down 25.7% over the same month of 2005.

Among this, the value of domestic exports dropped 41.3% to MOP995 million, and the value of re-exports increased 32.9% to MOP598 million. Total value of imports amounted to MOP3.39 billion, up 10.8% over the same period of 2005. A trade deficit of MOP1.79 billion was recorded.

In 2006, the value of total exports expanded 3.2% year-on-year to MOP20.46 billion. Both the values of domestic exports and re-exports registered increases, up by 0.1% and 11.5% respectively. Meanwhile, the value of imports grew 16.6% to MOP36.53 billion. Thus, Macao's trade balance registered a deficit of MOP16.07 billion in 2006, with the exports/imports ratio decreased from 63.3% in 2005 to 56.0%.

The value of Textile & garment exports in 2006, which accounted for 71.6% of the total exports, dropped 4.4% over the same period of 2005, while the value of Non-textile exports rose 29.2%. As the major components of non-textile exports, Machines & apparatus, parts & accessories thereof and Footwear expanded 8.7% and 465.1% respectively year-on-year.

The USA and the EU remained as Macao's major export markets, together making up 63.6% of the total value of exports. Among this, exports to the USA, which made up 44.1% of the totalvalue of exports, decreased 6.5%, while exports to the EU, which took up 19.5% of the total, increased 18.0% over 2005.

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