FX.co ★ Macau Trade Deficit Widens in May

Macau’s trade deficit widened to MOP 10.79 billion in May 2026, an increase of MOP 1.97 billion compared with the same month a year earlier. Exports rose 33.9% year-on-year to MOP 1.415 billion, driven largely by re-exports—which make up about 91% of total exports and expanded by 35.8%. Non-textile products posted the strongest gains, particularly diamond and diamond jewellery (up 62.0%), travel goods and handbags (up 42.2%), and watches (up 16.5%). Domestic exports also grew, rising 17.7%, mainly on the back of copper and articles thereof (up 59.4%). The bulk of exports was destined for Hong Kong and mainland China.

Imports climbed 23.6% to MOP 12.20 billion. Purchases of gold jewellery surged 32.1%, while imports of food and beverages fell 7.3%. Most imports originated from mainland China and the European Union.

Over the first four months of 2026, merchandise exports and imports increased by 22.6% and 25.2% year-on-year, respectively. As a result, the trade deficit widened by MOP 11.27 billion compared with the same period of the previous year.