Macau recorded a surplus of 12.1 billion patacas (1.28 billion euros) in the Balance of Payments (BP) balance, according to the preliminary estimate for 2019, released this Friday.
“In 2019, the preliminary estimate of BP Macau recorded a ‘surplus’ of MOP 12.1 billion, with a positive balance of MOP 142.8 billion [EUR 15.1 billion] in the account current and an increase of 83.5 billion patacas [8.8 billion euros] in non-reserve net financial assets, ”said the Monetary Authority.
Official data revealed an increase in the trade deficit for goods, with exports falling 8.3% in annual terms and imports growing 0.7%.
If in 2018 the deficit was 91.2 billion patacas (9.6 billion euros), in 2019 it rose to 93.3 billion patacas (9.9 billion euros).
The Monetary Authority of Macau also pointed out that service exports decreased by 1.1% in 2019, justifying the result mainly with the drop in tourism service exports and the 6.5% decrease in service imports.
“Therefore, between 2018 and 2019, the ‘surplus’ recorded in the services account fell from 311.7 billion patacas [33 billion euros] to 310.3 billion patacas [32.8 billion euros] ”, The authorities pointed out.
Composed of the current account, capital account and financial account, BP is an integrated statistical record that presents the results of external transactions.
