Macau, China, 30 May – Macau’s gross domestic product (GDP) grew by 18.8 percent in real terms in the first quarter of this year, as compared with the same period of 2005, official figures showed.
According to data published Tuesday by the Statistics and Census Bureau, GDP growth was mainly due to a 14.9 percent increase in gaming revenues, a 19.9 percent increase in visitor spending – excluding gaming -, growth in investment in private construction with large projects being carried out and a 26.9 percent increase in exports.
On analyzing the main components of GDP, there was a 6.9 percent rise in consumer spending and an 8.2 percent increase of family spending on the local market.
The government’s final expenditure rose 1.2 percent and payments to employees rose 5.7 percent, while net acquisitions of goods and services fell 36.6 percent. (macauhub)