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

Pic: Shutterstock

Textiles | On 3rd Dec 2020

PRC overtakes US to turn EU's biggest trading partner

China has overtaken the United States in the third quarter of this...

Pic: Shutterstock

Textiles | On 3rd Dec 2020

Vietnam's textile-garment exports likely to reach $34 bn

Vietnam's textile and garment industry is predicted to earn $33.5-$34 ...

Pic: Shutterstock

Textiles | On 3rd Dec 2020

Uzbek firm to supply cotton fabrics to Ukraine

Uzbekistan's Textile-Contact Company recently signed a $12-million...

Interviews View All

Karel Williams, Dow Microbial Control

Karel Williams
Dow Microbial Control

'Silvadur is most rapidly adopted in areas where hygiene-conscious and...

Pinkesh Jain, Everflow Petrofils Ltd

Pinkesh Jain
Everflow Petrofils Ltd

‘An innovative technology which India needs desperately is the...

Anavila Misra, Anavila Collection

Anavila Misra
Anavila Collection

Fashion shows are also encouraging and highlighting sustainable fashion

Davide Maccabruni,

Davide Maccabruni

Schärer Schweiter Mettler (SSM) manufactures and supplies textile...

Sandra Sequeira,

Sandra Sequeira

The JD Institute of Fashion Technology is the educational division of JD...

Madhu Sudhan Bhageria,

Madhu Sudhan Bhageria

Incorporated in August 1990, Filatex India Ltd manufactures manmade...

Jacques Prigneaux, EDANA

Jacques Prigneaux
EDANA

EDANA has been the leading global association and voice of the nonwovens...

Razvan Popescu, Directa Plus SpA

Razvan Popescu
Directa Plus SpA

Directa Plus is one of the largest producers and suppliers worldwide of...

Melissa Tate, University of New South Wales

Melissa Tate
University of New South Wales

<div><div><div><div><b>Melissa Tate</b>, a well-known scientist currently...

Bani Batra,

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Divvya and Nidhhi Gambhir, Walnut

Divvya and Nidhhi Gambhir
Walnut

<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...

Prathyusha Garimella, Prathyusha Garimella

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

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


December 2020

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


Advanced Search