Macau’s GDP expected to post growth of 9.8 percent this year

3 September 2012

The Macau economy is expected to see real growth of 9.8 percent this year and 13.5 percent in 2013, but both far from the 27 percent growth posted in 2010 and 20.7 percent in 2011, according to the most recent edition of the report on Macau by the Economist Intelligence Unit (EIU), of The Economist group.

Last week, the Statistics and Census Bureau (DSEC) said that Macau’s economy posted real growth of 12.6 percent in the first half of the year after slowing to 7.3 percent in the second quarter, from 18.6 percent in the first quarter.

Gross fixed capital formation, or investment, will this year slow to growth of 7.4 percent, according to projections from the EIU, and then speed up to 10.4 percent in 2014, which figures are slightly higher than the 14.5 percent posted in 2011, but much higher than the drop of 16.8 percent seen in 2010.

The rate of inflation, in its turn, is expected to remain at around 5 percent, with 5.4 percent this year and 5.7 percent in 2013, which is marginally more than the 5.3 percent seen in 2011, but substantially higher than the 2.8 percent posted in 2010.

The EIU said that Macau’s current account balance would continue to post large surpluses in 2012/2013 as, although the balance of trade shows increasingly large deficits, exports of gaming-related services are expected to remain high. (macauhub)