Macao records trade deficit of US$ 481 mln in Jan, Feb

Macao recorded a trade deficit of 3.85 billion patacas (US$ 481 million) for the first two months of 2008, and its export/import ratio declined 11.2% from the previous year, according to trade figures released Monday by Macao's Statistics and Census Service (DSEC).

The total export value dipped 10% year-on-year to 2.66 billion patacas, while the import value was 6.51 billion patacas, down 14.7%, according to DSEC.

The major export sources of the city are the U.S. and the European Union, which accounted for a combined 58.5% of the total in the period. The export value to the two regions declined 7.2% and 26.8% respectively, as compared with the same period last year, according to DSEC.

The exports of the textile and garment, which accounted for 62.3% of the total, were down 13.9% from the same period of last year, according to the figures.