《卫报》提到，能源价格高企的影响已初现端倪：2025年数据显示，英国货物贸易表现创下历史最差纪 录。英国货物贸易逆差达2483亿英镑，较上年扩大305亿英镑。英国国家统计局表示，尽管服务贸易顺 差达1920亿英镑，但仅能部分弥合货物贸易逆差的扩大缺口。去年，制造业游说团体"英国制造"曾呼吁 政府提供数百万英镑的额外补贴，以防制造业进一步萎缩。 高昂的能源成本已经导致能源密集型行业（包括化工行业）的工厂关闭或停产，而一些公司为了应对不 断上涨的账单，正在裁员或减少工时。报告还指出，盈利能力疲软使得跨国公司更难证明在英国设立新 生产线的合理性，尤其是在竞争市场提供更便宜能源的情况下。 法新社近日报道说，英国电价如此昂贵，主要是因为超过1/4的电力仍然来自天然气，而天然气价格在 俄乌冲突后飙升。虽然批发价格此后有所下降，但仍处于高位。这些成本最终都转嫁到了用户电费账单 上。在钢铁、化工、玻璃和水泥等高耗能行业，企业纷纷警告称，政府提供的支持不足以维持其竞争 力。 【环球时报特约记者 任重】能源价格高企已成为最令英国工业界头疼的问题之一。据英国《卫报》22 日报道，英国工业联合会和英国能源协会的一份最新报告显示，能源 ...

Core Insights - Macau's total export value for 2025 is projected to increase by 3.2% year-on-year to MOP 13.92 billion, with re-exports rising by 3.8% to MOP 12.46 billion, while local product exports decrease by 1.8% to MOP 1.46 billion [1] - Total import value is expected to decline by 3.0% to MOP 124.79 billion, resulting in a trade deficit of MOP 110.86 billion [1] - Exports to mainland China and Hong Kong are expected to rise significantly, with increases of 57.5% to MOP 1.18 billion and 3.7% to MOP 9.96 billion respectively, while exports to the US and EU are projected to decrease by 9.0% and 6.6% [1] Export and Import Analysis - Non-textile exports are anticipated to rise by 5.0% to MOP 12.56 billion, while textile and garment exports are expected to decline by 10.5% to MOP 1.36 billion [1] - Imports from the EU are projected to decrease by 4.7% to MOP 35.84 billion, while imports from mainland China and Hong Kong are expected to increase by 0.5% to MOP 39.65 billion and 9.8% to MOP 7.08 billion respectively [2] - Consumer goods imports are forecasted to decline by 1.4% to MOP 89.86 billion, with notable decreases in clothing and footwear by 4.7% to MOP 12.28 billion, while gold jewelry is expected to increase by 13.6% to MOP 11.66 billion [2] Monthly and Quarterly Trends - In December 2025, total export value is expected to reach MOP 1.17 billion, marking an 11.0% year-on-year increase, with re-exports rising by 11.8% [2] - The total import value for December is projected to increase by 5.9% to MOP 11.78 billion, driven by significant increases in gold jewelry and mobile phones by 42.6% and 31.1% respectively [2] - For Q4 2025, export and import values are expected to rise by 6.7% to MOP 3.61 billion and 1.0% to MOP 34.06 billion respectively, resulting in a trade deficit of MOP 30.45 billion [3]

罗志恒/文 一、中国货物贸易顺差总体情况：总体持续扩大，主要源自出口强劲 过去二十余年，中国货物贸易顺差整体呈现持续扩张态势。2001年加入WTO后，中国深度嵌入全球分 工体系，逐步确立"世界工厂"地位，出口规模在较长时期内保持快速增长，成为推动货物贸易顺差扩大 的核心动力。海关总署数据显示，2001—2025年，中国货物贸易顺差年均复合增长18%。2025年中国货 物贸易顺差高达11889亿美元，历史上首次破万亿美元，较2024年上升19.8%。货物和服务净出口对 GDP增长的拉动达1.64个百分点，为2007年以来次高，仅次于海外需求激增但全球供应链紧张的2021 年。 贸易顺差反映的是出口与进口规模之间的差额，其变化通常取决于两端的共同作用。中国货物贸易顺差 快速扩张，主要是因为出口保持韧性增长，同时进口增速阶段性放缓。 一方面，中国出口保持强劲韧性。2025年中国出口增长5.5%，预计占全球出口份额将突破15%，创历史 新高。中国出口韧性的背后有两大支撑：一是出口市场布局多元化。2025年中国对美国出口明显下滑， 但对东盟、非洲等非美市场的出口快速增长，有效对冲了对美出口下降带来的缺口。二是出口结构持 ...

智通财经APP获悉，澳门统计暨普查局资料显示，2025年10月澳门货物出口和进口总值分别为13.0亿元 (澳门元，下同)及112.2亿元，同比上升7.9%及0.7%；货物贸易逆差99.2亿元。 与2024年同月比较，10月再出口货值(11.7亿元)升幅为8.0%，当中手表增加13.8%，钻石及钻石首饰则 减少7.9%。澳门本地产品出口(1.3亿元)上升6.7%，其中医药及有机化学产品增加70.5%，成衣则减少 22.7%。货物进口总值同比上升0.7%，当中黄金制首饰、燃料及润滑油增加30.6%和19.6%，手袋及银包 则减少15.5%。 今年首十个月澳门总出口货值116.1亿元，同比上升2.7%；再出口(104.0亿元)增加3.3%，澳门本地产品 出口(12.1亿元)则减少2.7%；总进口货值下跌3.5%至1,023.4亿元；货物贸易逆差907.3亿元。 按出口目的地统计，1至10月输往中国内地(10.2亿元)及中国香港特区(82.8亿元)的货值同比分别上升 62.2%和3.0%，而出口至美国(2.4亿元)及欧盟(1.7亿元)的货值则下跌3.7%和2.1%。按货物分类，非纺织 品出口上升4.0%至104.2亿 ...

Core Insights - Macau's total goods exports and imports in August 2025 were valued at 1.29 billion MOP and 9.85 billion MOP, representing year-on-year declines of 2.3% and 6.1% respectively, resulting in a trade deficit of 8.56 billion MOP [1] - In the first eight months of the year, total exports reached 9.20 billion MOP, a 1.0% increase year-on-year, while total imports fell by 4.9% to 80.43 billion MOP, leading to a trade deficit of 71.23 billion MOP [1] Export Analysis - Re-exports in August 2025 amounted to 1.20 billion MOP, a slight increase of 0.4% year-on-year, with notable increases in watch exports by 69.8%, while diamond and diamond jewelry exports decreased by 42.7% [1] - Local product exports were valued at 88.45 million MOP, down 28.6%, with significant declines in clothing exports by 64.1%, although pharmaceuticals and organic chemicals saw a 15.3% increase [1] - For the first eight months, re-exports totaled 8.27 billion MOP, up 1.7%, while local product exports decreased by 4.9% to 940 million MOP [1] Import Analysis - Total imports in August 2025 decreased by 6.1%, with watch imports down 25.5%, while gold jewelry imports increased by 14.0% [1] - In the first eight months, imports from mainland China and the EU fell by 3.5% and 7.2% respectively, while imports from Hong Kong increased by 1.7% [2] - Consumer goods imports decreased by 3.8% to 58.20 billion MOP, with clothing and footwear imports down 7.5%, while gold jewelry imports increased by 5.4% [2] Trade Partners - Exports to mainland China and Hong Kong in the first eight months were valued at 830 million MOP and 6.58 billion MOP, showing increases of 63.1% and 2.0% respectively, while exports to the US and EU decreased by 6.5% and 13.0% [1] - Non-textile exports rose by 2.7% to 8.27 billion MOP, while textile and clothing exports fell by 11.5% to 930 million MOP [1]

美国商务部29日发布的初步数据显示，由于进口明显减少，美国6月货物贸易逆差从5月调整后的964亿 美元降为860亿美元，显著低于市场预期。 数据显示，美国6月货物进口额为2642亿美元，环比减少115亿美元；出口额为1782亿美元，环比减少11 亿美元。 受关税政策影响，美国月度货物贸易逆差在今年年初明显升高，3月达到创纪录的1620亿美元。 分析人士认为，关税因素导致美国货物贸易大幅波动，美国进口商囤货需求在年初因关税上调预期而增 加，但从4月开始相关需求大幅下降，6月货物贸易逆差下降体现了这一趋势的延续。 （文章来源：新华社） ...

受关税政策影响，美国月度货物贸易逆差在今年年初明显升高，3月达到创纪录的1620亿美元。 分析人士认为，关税因素导致美国货物贸易大幅波动，美国进口商囤货需求在年初因关税上调预期 而增加，但从4月开始相关需求大幅下降，6月货物贸易逆差下降体现了这一趋势的延续。 数据显示，美国6月货物进口额为2642亿美元，环比减少115亿美元；出口额为1782亿美元，环比减 少11亿美元。 新华社纽约7月29日电（记者刘亚南）美国商务部29日发布的初步数据显示，由于进口明显减少， 美国6月货物贸易逆差从5月调整后的964亿美元降为860亿美元，显著低于市场预期。 ...