Almost 90 per cent of Macau garment exporters are anticipating a huge drop in sales this quarter. In the last quarter of 2014, the sector suffered a decrease in sales in external markets by around 5 per cent with exports a fraction of what garment companies used to sell five years ago.

The garment industry is one of the most affected by the casino boom as gaming companies virtually sucked in all the workforce in Macau and sent land prices through the roof. In the last quarter of 2014, garment exports was eight times less than what the industry was selling in the same quarter in 2008 and almost 20 times less than in 2007.

Becoming a residual industry in Macau’s economy, garment companies continue to struggle. More than 80 per cent of garment companies expect a substantial decrease in exports this quarter. Only 1.8 per cent expect a slight increase and 13 per cent are hoping for a flat performance.

Growth of foreign sales slowed down to 6.3 per cent during the third quarter of 2014 from a hike of 13 per cent in the second quarter of that year. The slowdown was due to an 8.5 per cent drop in sales to China but was partially offset by a rise of 20 per cent in exports to Hong Kong, Macau’s main market.