Information from the Statistics and Census Service (DSEC) indicated that external merchandise trade totalled MOP67.20 billion in the first half of 2025, down by 4.3% compared to the same period last year. Total value of merchandise exports increased by 0.3% year-on-year to MOP6.63 billion, of which value of re-exports (MOP5.91 billion) grew by 0.6% while value of domestic exports (MOP714 million) decreased by 1.9%. Total value of merchandise imports dropped by 4.8% year-on-year to MOP60.57 billion. Merchandise trade deficit totalled MOP53.95 billion in the first half of 2025, down by MOP3.07 billion from the same period last year (MOP57.02 billion).
Analysed by destination, merchandise exports to the Hong Kong Special Administrative Region (Hong Kong SAR) (MOP4.95 billion) went up by 8.9% year-on-year in the first half year, whereas exports to the Chinese mainland (MOP355 million), the Belt and Road Countries (MOP160 million), the USA (MOP144 million) and the European Union (MOP94 million) slid by 11.9%, 66.0%, 0.9% and 16.7% respectively. Analysed by commodity, exports of Textiles & garments increased by 0.7% year-on-year to MOP718 million, and exports of Non-textiles expanded by 0.2% to MOP5.91 billion.
By place of origin, merchandise imports from the European Union (MOP17.94 billion), the Chinese mainland (MOP17.93 billion) and the Belt and Road Countries (MOP14.23 billion) decreased by 7.0%, 2.4% and 3.1% respectively year-on-year in the first half year, while those from Japan (MOP4.55 billion) increased by 2.3%. Analysed by place of consignment, merchandise imports from the Chinese mainland (MOP9.42 billion) and the Hong Kong SAR (MOP47.87 billion) fell by 7.1% and 4.4% respectively year-on-year. In terms of commodity, imports of Consumer goods went down by 3.9% to MOP44.34 billion, of which imports of Garments & footwear (MOP5.90 billion) shrank by 7.1%, while imports of Food & beverages (MOP11.18 billion) and Gold jewellery (MOP5.71 billion) rose by 7.1% and 3.2% respectively. Imports of Fuels & lubricants (MOP3.44 billion), Mobile phones (MOP1.29 billion) and Construction materials (MOP711 million) declined by 9.4%, 23.4% and 36.3% respectively.
In June 2025, total merchandise exports decreased by 10.5% year-on-year to MOP953 million. Value of re-exports dropped by 12.2% to MOP806 million, of which re-exports of Beauty, cosmetic & skincare products and Travel goods & handbags slid by 35.2% and 27.9% respectively, while those of Articles for casino and Diamond & diamond jewellery increased by 29.8% and 9.2% respectively. Value of domestic exports expanded by 0.1% to MOP147 million, of which domestic exports of Pharmaceutical products & organic chemicals and Bread, pastry, cakes, biscuits & other bakers' wares rose by 16.9% and 2.9% respectively. Meanwhile, total merchandise imports decreased by 0.6% year-on-year to MOP9.95 billion; imports of Mobile phones, Handbags & wallets and Construction materials reduced by 27.6%, 26.3% and 22.1% respectively, whereas imports of Gold jewellery and Beauty, cosmetic & skincare products showed respective growth of 48.8% and 19.2%. Merchandise trade deficit totalled MOP9.00 billion in June.
In the second quarter of 2025, total value of merchandise exports (MOP3.13 billion) and merchandise imports (MOP30.41 billion) dropped by 5.5% and 3.5% respectively year-on-year. Merchandise trade deficit totalled MOP27.28 billion in the second quarter, down by MOP907 million from the same quarter last year.
