Macau’s GDP rises 16.3 percent in second quarter

30 August 2006

Macau, China, 30 Aug –Macau’s Gross Domestic Product (GDP) posted real growth of 16.3 percent in the second quarter of the year and growth for the first quarter was revised to 19.2 percent from an initial 18.8 percent, the Statistics and Census Bureau said in Macau Wednesday.

The Bureau said that GDP growth in the second quarter was the result of gaming and gambling revenues increasing by 11 percent against the same 2005 period, as well as the construction of several large developments and the resulting increased investment they imply, expenditure by visitors that excludes gambling, which increased by 15.7 percent in real terms and exports, which increased by 43.7 percent in the period.

Analyzing the main components of GDP, the Bureau said that private spending rose 6.5 percent in the second quarter, which was less than the growth in the first quarter of 2006 (7.0 percent).

Gross fixed capital formation (GFCF), which is a reflection of investment levels, maintained high growth, with 54,8 percent in the second quarter of 2006.

Private sector investment increased 61.5 percent, due to a substantial increase of 84.8 percent in investment in construction, while public sector investment fell 4.2 percent as a result of the 3 percent fall in construction and a 15 percent decrease in investment in equipment. (macauhub)