Macau’s GDP rose over 15 percent in real terms in 2006

23 March 2007

Macau, China, 23 March – Macau’s Gross Domestic Product (GDP) in 2006rose by over 15 percent in real terms, the secretary for the Economy and Finance, Francis Tam, said Wednesday in Macau.

According to English-language daily newspaper, Macau Post daily, Tam made the statement on the sidelines of a seminar organized by the Macau Chamber of Commerce.

According to official figures, Macau’s GDP rose 19 percent in the first quarter, 16.4 percent in the second and 11.4 percent in he third quarter of 2006.

In 2005, Macau’s economy posted growth of 6.7 percent, against 28.3 percent in 2004 and 4.2 percent in 2003.

The Macau Statistics and Census Bureau said Monday is due to publish GDP figures for the fourth quarter of 2006 and for the full year on March 30.

The secretary also said that Macau’s rapid growth had launched a number of “challenges” such as unbalanced development, lack of workforce and inflation.

In 2005, Macau’s inflation rate was 5.15 percent, after inflation of 4.4 percent in 2004. (macauhub)