Macau Q4 GDP Growth Hits Near 2-Year Low

Macau’s economy expanded by 3.4% year-on-year in Q4 of 2024, slowing from a downwardly revised 3.8% increase in the previous quarter.

This marked the eighth consecutive quarter of growth but the softest in the sequence, due to a slowdown in exports of services (2.1% vs 2.5% in Q3), particularly in gaming services (4.3% vs 13.1%), while imports of goods declined further (-7.1% vs -5.7%).

Moreover, gross fixed capital formation tumbled (-0.2% vs 13.8%).

Meanwhile, private consumption (2.9% vs 1.4%) increased further and government final consumption expenditure rebounded (6.3% vs -0.6%), while changes in inventories decreased less (-9.4% vs -10.7%).

For the whole year of 2024, the economy of Macau advanced by 8.8%, easing sharply from a downwardly revised 75.1% surge in the previous year.