Macau's trade deficit widened to MOP 7.59 billion in October 2019 from MOP 7.36 billion a year earlier. This was the largest trade gap since December 2014. Year-on-year, exports rose 9.6 percent to MOP 1.17 billion, mainly driven by re-exports (10.9%), as machines, apparatus & parts and diamond & garments, not knitted or crocheted jumped by 34.7% and 72.9%, respectively. Sales increased to Hong Kong (8.5%), the USA (194.4%),the EU (16.1%) but plunged to China (-24.4%). Meanwhile, imports rose 3.90 percent to MOP 8.76 billion, weighed up by food & beverages (17.7%), beauty, cosmetic/skin-care products (60%), and gold jewelry (3.3%). Purchases went up from the EU (27.6%), and Japan (8.3%), but fell from China (-3.7%), Hong Kong (-15.1%). Considering the first ten months of 2019, exports grew 4.3 percent from a year earlier to MOP 10.56 billion, while imports fell 1.8 percent to MOP 72.75 billion, bringing a trade gap of MOP 62.19 billion. Balance of Trade in Macau averaged -2718677.40 Thousand MOP from 1997 until 2019, reaching an all time high of 634540 Thousand MOP in July of 2000 and a record low of -8008621.97 Thousand MOP in December of 2014.
Balance of Trade in Macau is expected to be -6700000.00 Thousand MOP by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Balance of Trade in Macau to stand at -7084739.86 in 12 months time. In the long-term, the Macau Balance of Trade is projected to trend around -7087734.60 Thousand MOP in 2020, according to our econometric models.