Macau’s trade deficit widened markedly to MOP 11.7 billion in January 2026, up from MOP 9.4 billion in the same month a year earlier. Imports surged 24.6% year-on-year to MOP 13.2 billion, largely reflecting robust increases in purchases of raw materials and semi-manufactured products (+104.6%), capital goods (+66.7%), and other consumer goods (+15.7%). By origin, imports rose notably from the Netherlands (+68.1%), South Korea (+31.4%), and Italy (+22.1%).
On the export side, external sales grew 29.2% to MOP 1.5 billion, underpinned by higher shipments of food and live animals (+126.4%), crude materials (+65.6%), and machinery and transport equipment (+61.4%). Exports increased mainly to China (+47.3%), Hong Kong (+36.3%), and the United States (+12%).
