A FALL in Macau's exports to Europe and the US resulted in a US$5 million trade deficit for the first 11 months of last year, 25 per cent up on the previous year. Macau's export value between January and November grew a mere 0.1 per cent to $1.6 billion, while the import value grew three per cent to $1.85 billion during the 11-month period. The unbalanced export-import movement resulted in a negative merchandise trade balance of two billion patacas (about HK$1.9 billion) in the first period, compared with 1.6 billion patacas in 1992. Textile and garment exports, which account for a 72.4 per cent of total exports, went down by 4.3 per cent in total export value. Exports to the European Union declined by 3.7 per cent, while exports to the US fell 6.8 per cent.