Home / Knowledge / News / Textiles / Trade deficit surges as import figure refuses to fall
Trade deficit surges as import figure refuses to fall
02
Apr '08
According to the trade results, the total volume of goods worth 2.8 billion patacas were imported by Macau, marking an increase of 16.4 percent in February 2008 compared to the previous year.

The value of exported goods amounting to 905 million patacas in February registered a year-on-year decline of 27.6 percent.

Of these, domestic volume of exports reflected a drop of 40.4 percent to reach 524 million patacas, while re-exports surged by 2.7 percent to touch 381 million patacas in the same period.

Experts recorded a trade deficit of 1.91 billion patacas for the month of February. The total value of exports dropped by 10.0 percent, in the first two months of 2008, to reach 2.66 billion patacas. In the same line, domestic exports and re-exports also declined by 11.0 percent and 7.9 percent respectively.

In contrast to this, the value of imports grew by 14.7 percent to touch 6.51 billion patacas causing a trade deficit of 3.85 billion patacas. In fact, the overall export-import ratio declined from 52.1 percent in the first two months of 2007 to 40.9 percent in 2008.

Textile and garments accounted for 62.3 percent of the total values of exports in January-February months of this year recording a drop of 13.9 percent over the same period last year.

A plunge of 2.6 percent was seen in the export of non-textile like machines and footwear which saw a fall of 47.4 and 34.3 percent respectively.

The US and EU emerged as the major markets for Macau exports together accounting for 58.5 percent of the total value of exports.

However, compared to the previous year, the value of exports decreased by 7.2 and 26.8 percent for US and EU respectively.

Imports were largely made from the Asian region with Chinese Mainland and Hong Kong alone comprising 50.2 percent of the total value of imports in January and February of 2008. A year-on-year rise of 8.5 and 12.5 percent was recorded for imports.

Figures for the import of raw materials also decreased by 12.3 percent for the ongoing year.


Must ReadView All

'Knitting machines can be used for various applications'

Textiles | On 21st Aug 2018

'Knitting machines can be used for various applications'

Flat knitting machines have the potential of being used for a number...

Courtesy: Invista

Textiles | On 21st Aug 2018

Fujian Petrochemicals to use Invista's P8 PTA technology

Invista’s technology and licensing group, Invista Performance...

Indian team finds way to cut water use in textile industry

Textiles | On 21st Aug 2018

Indian team finds way to cut water use in textile industry

Researchers at the department of chemistry in Calicut University in...

Interviews View All

Rahul Bhadani
Looksgud

Navigating through catalogues is a bit hasslesome

Rajiv Sirohi
Shara

‘Portugal is taking away a major share of the mill made sector.’

Cindy McNaull
Cordura

We have broad range of options in durable fabrics

Shivani Swamy

The Livinguard Technology is owned by Green Impact Holding AG based in...

Tina Antoniades

India-headquartered Lulu & Sky is a rapidly escalating brand with the...

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Johan Berlin
Investkonsult Sweden AB

Investkonsult Sweden AB are consultants in the nonwoven and absorbent...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Ayyappa Nagubandi
Broadcast Wearables Pvt Ltd

Hyderabad-based Broadcast Wearables has come up with the country's first...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Amiben Shroff
Shrujan

From its modest beginning in the late 1960s, Shrujan has grown into a...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


August 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search