Value of trade between Chinese mainland, Macao reaches USD65.58B over 25 years
Date
12/19/2024 7:17:33 AM
(MENAFN) The total trade value between the Chinese mainland and Macao has reached 471.43 billion yuan (approximately 65.58 billion U.S. dollars) from January 2000 to November 2024, according to customs authorities. This milestone highlights the growth in economic ties since Macao's return to China in 1999, reflecting robust trade and collaboration over the past 25 years.
Trade between the mainland and Macao has seen a significant rise during this period, growing from an annual volume of 4.87 billion yuan in 1999 to 27.01 billion yuan in 2023. This increase corresponds to an average annual growth rate of 7.4 percent, as reported by the Gongbei customs in Zhuhai, a city in Guangdong Province that borders Macao. In the first 11 months of 2024 alone, the trade value rose 9.7 percent year on year to 25.94 billion yuan, continuing this upward trend.
Mainland private enterprises have increasingly expanded their participation in the Macao market over the past two decades, significantly boosting their share of imports and exports. This reflects Macao’s growing attractiveness as a trading partner and its role as a vital link in the economic integration of the Greater Bay Area.
One notable highlight is the rising popularity of Macao’s specialty pastries among mainland consumers. From January to November 2024, the mainland imported 135.6 tonnes of pastries from Macao, representing a 25.4 percent increase compared to the same period last year. This underscores the growing demand for Macao's unique products and the deepening cultural and economic exchange between the two regions.
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