Information from the Statistics and Census Service (DSEC) indicated that total merchandise exports increased by 0.9% year-on-year to MOP1.14 billion in November 2025, while total merchandise imports dropped by 2.0% to MOP11.20 billion. Merchandise trade deficit totalled MOP10.06 billion.

Value of re-exports increased by 1.0% year-on-year to MOP1.02 billion in November, of which re-exports of Travel goods & handbags and Diamond & diamond jewellery grew by 26.3% and 8.5% respectively, while those of Beauty, cosmetic & skincare products declined by 27.0%. Value of domestic exports fell by 0.7% to MOP112 million, of which domestic exports of Garments slumped by 69.4%, while those of Pharmaceutical products & organic chemicals and Copper & articles thereof rose by 39.0% and 18.9% respectively. Meanwhile, total merchandise imports went down by 2.0% year-on-year; imports of Mobile phones and Watches reduced by 17.0% and 15.7% respectively, whereas those of Gold jewellery expanded by 32.4%.

For the first eleven months of 2025, total value of merchandise exports rose by 2.5% year-on-year to MOP12.74 billion, of which value of re-exports (MOP11.42 billion) increased by 3.1% while value of domestic exports (MOP1.32 billion) slid by 2.5%. Total value of merchandise imports fell by 3.7% year-on-year to MOP113.23 billion. Merchandise trade deficit totalled MOP100.49 billion.

Analysed by destination, merchandise exports to the Chinese mainland (MOP1.12 billion) and the Hong Kong Special Administrative Region (Hong Kong SAR) (MOP9.11 billion) went up by 60.8% and 2.9% respectively year-on-year in the first eleven months, whereas exports to the USA (MOP255 million) and the EU (MOP187 million) dropped by 8.2% and 1.3% respectively. Analysed by commodity, exports of Non-textiles increased by 4.3% year-on-year to MOP11.48 billion, while exports of Textiles & garments went down by 11.1% to MOP1.27 billion.

By place of origin, merchandise imports from the Chinese mainland (MOP35.72 billion) and the EU (MOP32.66 billion) fell by 0.9% and 4.8% respectively year-on-year in the first eleven months, while those from the Hong Kong SAR (MOP6.48 billion) increased by 8.5%. Analysed by place of consignment, merchandise imports from the Chinese mainland (MOP18.59 billion) and the Hong Kong SAR (MOP88.51 billion) decreased by 3.4% and 3.7% respectively year-on-year. In terms of commodity, imports of Consumer goods went down by 1.8% to MOP81.51 billion, of which imports of Garments & footwear (MOP11.00 billion) shrank by 5.6%, while imports of Gold jewellery (MOP10.49 billion) rose by 12.4%.