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Macau's trade deficit narrowed slightly to MOP 9.92 billion in October 2025 from MOP 9.94 billion in the same month last year. Exports rose by 7.9% year-on-year to MOP 1.3 billion, driven by higher sales of non-textiles (+4.0%), particularly machinery, apparatus and parts (+6.3%), as well as watches (+27.3%). Outbound shipments increased sharply to China (+92.7%), followed by the EU (+34.0%) and the Philippines (+27.1%). Meanwhile, imports grew by 0.7% to MOP 11.2 billion, supported by higher purchases of food and beverages (+4.8%) and gold jewellery (+11.7%). By origin, imports rose from Hong Kong (+13.1%), China (+7.6%) and Switzerland (+2.9%), but declined from the EU (-1.7%). In the first ten months of 2025, Macau’s trade deficit narrowed to MOP 90.7 billion from MOP 94.8 billion, as exports increased 2.7% while imports fell 3.5%.