11.5% real growth of Macau’s economy in second quarter

28 August 2017

Macau’s gross domestic product recorded real growth of 11.5 percent in the second quarter of the year, up from 10.3 percent in the first quarter, due to exports of services and private consumption spending, indicates the Statistics and Census Service.

Service exports rose 18.8 percent year-on-year, highlights being the increases of 19.0 percent in gaming service exports and 22.1 percent in exports of other tourism services. There was also a marginal rise of 0.5 percent in exports of goods.

The Statistics and Census Service also reported that domestic demand rose consistently, with private consumption spending and imports of goods up 3.4 percent and 2.4 percent respectively in annual terms.

The government’s final consumption spending fell 2.4 percent in annual terms, while the implicit GDP deflator, which measures overall price variation, recorded annual growth of 2.2 percent.

Gross fixed capital formation, which reflects investment, registered a year-on-year contraction of 2.4 percent, contrasting with the first quarter (+7.1 percent) due to completion of the construction of large-scale tourism and entertainment facilities. (Macauhub)