Macau’s economy grows 30.1 percent in first quarter of the year

1 June 2010

Macau, China, 1 June – Macau’s Gross Domestic Product (GDP) for the first quarter of this year saw a rise of 30.1 percent year-on-year in real terms, as a result of 57.1 percent year on year growth in gross gaming revenues, according to figures released by the Statistics and Census Bureau (DSEC) Monday.

Analysing the main components of GDP, DSEC said that total expenditure by visitors (except for gaming) rose 14.3 percent, against growth of 0.8 percent in the fourth quarter of 2009 and that exports fell in the first quarter by just 12.8 percent against 41.8 percent in the fourth quarter of the year.

However, gross fixed capital formation (GFCF), which is a reflection of investment levels, continued on it downward slide, falling by 38.9 percent in the first quarter of the year, as compared to a drop of 34.9 percent in the previous quarter.

DSEC also said that private sector investment increased 39.2 percent, and that public sector investment posted a fall of 15.8 percent.

In the fourth quarter of 2009, Macau’s GDP posted growth of 27.4 percent. (macauhub)