Exports from Portugal to the special administrative region of Macau represented 21 million euros last year, with purchases from Macau worth 529 thousand euros, making the trade balance largely favorable to Portugal.
According to data from the National Institute of Statistics (INE), available on the website of the Agency for Investment, the balance of trade between Portugal and Macau is favorable to the European country by almost 20.5 million euros.
Macau was the 85th customer of Portuguese exports of goods in 2022, with a share of 0.03% of the total, occupying the 140th position in terms of imports, which were worth just 0.001%.
Despite the residual value of Macau’s sales to Portugal, exports from that region to Portugal have consistently increased, having more than doubled in recent years.
“Over the period 2017-2021 there was an average annual decrease in exports of 5.4% and a growth of 164.6% in imports”, reads on the AICEP website, which adds that “the balance commercial goods presented a surplus of 19 million euros in 2021”, having improved to almost 20.5 million last year.
Among the main products exported to this Asian market are Food Products (46.2%), Agricultural Products (20.5%), Chemical Products (19.4%), Optical and Precision Instruments (2 .7%) and Machines and Equipment (2.4%), while the main groups of imported products were Chemicals (59.4%), Machines and Equipment (15.7%), Cellulose Pulp and Paper (4.5%), Apparel (4.3%) and Footwear (3.8%), according to AICEP.
With regard to remittances by Portuguese emigrants in Macau, the Bank of Portugal presents a value of zero for the last few years, recording only a remittance of 20 thousand euros from Portuguese people working in Macau in 2020.
The Macau chief executive is visiting Portugal between April 18 and 22, with meetings planned with the Portuguese President, Marcelo Rebelo de Sousa, the Prime Minister, António Costa, and the Minister of Foreign Affairs, João Gomes Cravinho.
Accompanying Ho Iat Seng is a delegation of 50 local businessmen, with several visits to Portuguese partners, focusing on the food and pharmaceutical sectors.
With the support of the Macau Institute for the Promotion of Trade and Investment, the delegation has scheduled visits to Lisbon and Porto, with meetings with the Luso-Chinese Traders and Industrialists Association and the Portugal-China Chamber of Commerce Small and Medium Enterprises.
Working visits to Hospital da Luz, Quinta da Marmeleira (Alenquer), Amorim, Sovena and Delta groups, among others, are also scheduled. In parallel, between April 15th and 22nd, a daily videomapping show will be held at Terreiro do Paço evocative of Macau, in an initiative of the Macao Tourism Board (DST).
*With Lusa
