IMF expects Macau economy to grow by 7.0% in 2018

19 April 2018

Macau’s economy is expected to grow by 7.0% this year, a fall of 2.3 percentage points from the 9.3% rate registered in 2017, according to the International Monetary Fund (IMF) forecasts in the World Economic Outlook.

Last March, the Macau Statistics and Census Bureau announced that real economic growth in 2017 was 9.1%, with per capita gross domestic product (GDP) showing slightly lower growth of 8.6 %, also in real terms.

The report, published on Tuesday in Washington, also forecasts economic growth of 6.1% in Macau in 2019 and 4.3% in 2023.

The IMF document includes forecasts of consumer price developments, forecasting inflation rates of 2.2%, 2.4% and 2.8% for Macau this year, in 2019 and 2023, respectively.

Among the advanced economies, Macau has the highest projected current account surplus, with rates of 32.1%, 33.1% and 34.8%, respectively, as a percentage of gross domestic product, followed by Hong Kong and Taiwan, territories with surpluses as a percentage of GDP in double digits. (macauhub)