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Macao's major foreign trade index grew by double-digits in the first 10 months, which were driven by a weak US dollar and strong consumption demand.
According to the latest figures released by the Macao Statistics and Census Bureau, the total exports comprising domestic and re-exports, amounted to 18.71 billion patacas (2.3 billion US dollars), an increase of 10.7 percent on the same period of last year.
Macao's exports were bolstered by the weak US dollars, which made local exports more competitive in the markets of European andother Asian countries.
Meanwhile, Macao's total value of imports reached 22.81 billion patacas (2.8 billion US dollars), indicating a year-on-year increase of 26.8 percent. The massive growth was driven by a strong local consumption demand, as income rises on the back of the spectacular economic growth.
Textiles and garments made up 80.2 percent of Macao's total exports in the first 10 months. The United States and the EuropeanUnion took up 49 percent and 21.4 percent of Macao's total exports.Meanwhile, China's mainland and Hong Kong had a combined share of 55.3 percent in Macao's total imports.
(Xinhua News Agency December 3, 2004)
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