Macau’s GDP posts real growth of 10.8 pct in 1st quarter of 2013

31 May 2013

Macau’s economy posted year on year real growth of 10.8 percent in the first quarter of the year, driven by exports of services, private consumption and investment, the region’s Statistics and Census Bureau (DSEC) said.

According to official there were rises in the export of gaming services (+8.9 percent), in exports of other tourist services (+4.9 percent), in private consumer spending (+10.2 percent) and overall investment (+13.8 percent).

The implicit GDP-deflator, which measures overall inflation, rose 6.5 percent against the same period of 2012.

Gross fixed capital formation, which indicates investment, increased by 14.7 percent against the same quarter of 2012, and private sector investment rose 8.7 percent and public sector investment rose 40.6 percent, driven by construction of Macau University on Hengqin Island, the light railway and social housing.

GDP growth in Macau in the first quarter was the highest since the first quarter of 2011, when it totalled 18.5 percent and then fell in the quarters that followed to 7.9 percent, 6.2 percent and 8.5 percent. (macauhub)