Information from the Statistics and Census Service (DSEC) indicated that total value of merchandise exports increased by 3.2% year-on-year to MOP13.92 billion in 2025, of which value of re-exports (MOP12.46 billion) grew by 3.8% while value of domestic exports (MOP1.46 billion) fell by 1.8%. Meanwhile, total value of merchandise imports dropped by 3.0% year-on-year to MOP124.79 billion. In 2025, external merchandise trade and merchandise trade deficit totalled MOP138.71 billion and MOP110.86 billion respectively.
Analysed by destination, merchandise exports to the Chinese mainland (MOP1.18 billion) and the Hong Kong Special Administrative Region (Hong Kong SAR) (MOP9.96 billion) went up by 57.5% and 3.7% respectively year-on-year in 2025, whereas exports to the USA (MOP275 million) and the EU (MOP202 million) dropped by 9.0% and 6.6% respectively. Analysed by commodity, exports of Non-textiles increased by 5.0% year-on-year to MOP12.56 billion, while exports of Textiles & garments went down by 10.5% to MOP1.36 billion.
By place of origin, merchandise imports from the EU (MOP35.84 billion) fell by 4.7% year-on-year in 2025, while those from the Chinese mainland (MOP39.65 billion) and the Hong Kong SAR (MOP7.08 billion) increased by 0.5% and 9.8% respectively. Analysed by place of consignment, merchandise imports from the Chinese mainland (MOP20.52 billion) and the Hong Kong SAR (MOP97.48 billion) recorded respective decreases of 2.1% and 3.1% year-on-year. In terms of commodity, imports of Consumer goods went down by 1.4% to MOP89.86 billion, of which imports of Garments & footwear (MOP12.28 billion) shrank by 4.7%, while imports of Gold jewellery (MOP11.66 billion) rose by 13.6%.
In December 2025, total merchandise exports grew by 11.0% year-on-year to MOP1.17 billion. Value of re-exports rose by 11.8% to MOP1.04 billion, of which re-exports of Jewellery and Footwear increased by 29.5% and 16.7% respectively, while those of Beauty, cosmetic & skincare products slid by 11.8%. Value of domestic exports expanded by 5.5% to MOP137 million, of which domestic exports of Bread, pastry, cakes, biscuits & other bakers' wares hiked by 24.6% , while those of Garments dropped by 4.6%. Meanwhile, total merchandise imports went up by 5.9% year-on-year to MOP11.78 billion; imports of Gold jewellery and Mobile phones showed respective growth of 42.6% and 31.1%, whereas imports of Food & beverages and Watches reduced by 13.5% and 9.4%. Merchandise trade deficit totalled MOP10.61 billion in December.
In the fourth quarter of 2025, total value of merchandise exports (MOP3.61 billion) and merchandise imports (MOP34.06 billion) increased by 6.7% and 1.0% respectively year-on-year. Merchandise trade deficit totalled MOP30.45 billion.
