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Macau’s trade deficit narrowed to MOP 9.0 billion in July, down from MOP 9.3 billion a year earlier. Exports rose 8.8% year-on-year to MOP 1,228.9 million, driven largely by a 15.8% increase in non-textiles, particularly watches (+121.1%) and diamonds and jewellery (+93.5%). By contrast, exports of textiles and garments fell 31.9%. Outbound shipments surged to the Philippines (+203.8%), followed by mainland China (+139.0%) and the US (+17.5%), while exports to the EU declined (-7.7%). Imports decreased 1.9% to MOP 10.3 billion, with notable declines in mobile phones (-32.2%) and handbags and wallets (-13.5%). In contrast, purchases rose in gold jewellery and beauty products (+32.4%) and cosmetics and skincare items (+33.1%). Imports from Hong Kong (+9.1%) and the US (+0.1%) increased, but declined from Japan (-9.9%), the EU (-6.9%) and mainland China (-3.7%). In the first seven months, Macau’s trade deficit narrowed to MOP 62.8 billion as exports increased 1.6% while imports fell 4.6%.