External trade jumps 1.7 pct for November

Increase boosted by overall growth in local imports

The total external merchandise trade value in the city registered a slight increase of 1.7 per cent year-on-year for the month of November last year, amounting to MOP7.6 billion (US$950 million), driven by growth in local imports, according to the official data released by the Statistics and Census Service (DSEC) last Friday.
For the month, the city’s total imports totalled MOP6.82 billion, a jump of 2.9 per cent year-on-year; however total exports fell by 8.1 per cent year-on-year to MOP797.5 million despite an increase of 19.4 per cent year-on-year in domestic exports, whose value reached MOP180.6 million.
In terms of goods, local imports of motorcars & motorcycles continued to plunge during the month, slumping by 41.8 per cent year-on-year to MOP163.7 million for the month. In addition, that of gold jewellery dropped slightly by 2 per cent year-on-year to MOP548.4 million.
However imports of watches surged by 69.1 per cent year-on-year to MOP603.7 million, while those of handbags & wallets also jumped by 30.7 per cent year-on-year to MOP248.9 million.
Meanwhile, the city’s exports of clocks & watches also soared by 63 per cent year-on-year during the month, amounting to MOP85.9 million. Moreover, exports of tobacco & wine jumped by 69.2 per cent year-on-year to MOP72 million.
However exports of machines, apparatus & parts dropped by 46.6 per cent year-on-year to MOP64.7 million, while total exports of textiles & garments also dropped by 20.3 per cent year-on-year to MOP60.6 million.
For the first eleven months of 2016, total trade value reached MOP74.1 billion, declining by 15.3 per cent year-on-year. Of the total, imports accounted for MOP64.8 billion, a drop of 16.6 per cent year-on-year, while exports also decreased by 5.1 per cent to MOP9.3 billion.

Closer links with Luso countries
During the eleven-month period, the city saw its trade activities with Portuguese-speaking countries become more active than one year ago. In particular, local exports to these countries increased seven-fold year-on-year to MOP6 million, while imports from the Lusophone world also grew by 12.6 per cent year-on-year to MOP606 million, according to the DSEC.
In terms of other origins, 36.6 per cent of local imports were from Mainland China, amounting to MOP23.73 billion, a drop of 18.7 per cent year-on-year, while those from the European Union totalled MOP15.43 billion, down by 10.4 per cent year-on-year.
In addition, analysed by place of consignment, imports from the Mainland also dropped by 5.6 per cent year-on-year to MOP11.1 billion, with those from the nine provinces of the Pan Pearl River Delta amounting to MOP10.4 billion, a decline of 6.7 per cent year-on-year.
On the other hand, more than half of the city’s exports went to Hong Kong during the eleven months, amounting to MOP5.2 billion, a decrease of 11.7 per cent year-on-year. Exports to Mainland China also declined by 3.8 per cent year-on-year to MOP1.6 billion for the period.