Macau’s economy shrank 8.9 percent on year in the first quarter of 2022, the steepest fall since Q4 of 2020 and following an upwardly revised 18 percent expansion in the previous period. Exports of services fell 4.7 percent compared to a year earlier, led by decline in gaming services (-25.1 percent) due to a decrease in the number of overnight visitors. Also, inventories declined (-29.4 percent); government expenditures fell 2 percent amid government’s reduced expenses on pandemic prevention; and consumer spending slid 2.7 percent in the face of an uncertain economic outlook, a sluggish domestic job market and resurgence of the pandemic in mainland China. Meanwhile, gross fixed capital formation rose 3.4 percent, boosted by increased investment on equipment. source: Statistics and Census Service, Government of Macao SAR

GDP Annual Growth Rate in Macau averaged 5.57 percent from 2002 until 2022, reaching an all time high of 54.30 percent in the second quarter of 2004 and a record low of -58 percent in the third quarter of 2020. This page provides - Macao GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Macau GDP Annual Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on July of 2022.

GDP Annual Growth Rate in Macau is expected to be -12.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Macau GDP Annual Growth Rate is projected to trend around 5.00 percent in 2023, according to our econometric models.

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Macau GDP Annual Growth Rate



Calendar GMT Actual Previous Consensus TEForecast
2022-03-04 09:30 AM Q4 -4.4% 33.8% 25%
2022-05-27 10:00 AM Q1 -8.9% -4.4% -8%
2022-08-26 10:00 AM Q2 -8.9% -12%


Related Last Previous Unit Reference
GDP Annual Growth Rate -8.90 18.00 percent Mar 2022
GDP Constant Prices 54270.00 62550.00 MOP Million Mar 2022
Gross Fixed Capital Formation 12096.00 16646.00 MOP THO Mar 2022
Gross National Product 204893.00 445530.00 MOP Million Dec 2020

Macau GDP Annual Growth Rate
Macau, a former Portuguese colony, has become a special administrative region of China since 1999. After opening of its borders to Chinese citizens and liberalization of the gaming industry in 2001, it has become the world’s largest casino market. As a result, gaming accounts for 50 percent of GDP, 84 percent of fiscal revenues and around 21 percent of the workforce. Given Macau’s semi-autonomous status inside China, large gaming industry and relaxed tax laws, it has become a base for wealthy investors especially from Mainland China. Attempts to diversify the economy while limiting casino growth have been fairly unsuccessful.
Actual Previous Highest Lowest Dates Unit Frequency
-8.90 18.00 54.30 -58.00 2002 - 2022 percent Quarterly

News Stream
Macau’s Economy Contracts the Most in Over a Year
Macau’s economy shrank 8.9 percent on year in the first quarter of 2022, the steepest fall since Q4 of 2020 and following an upwardly revised 18 percent expansion in the previous period. Exports of services fell 4.7 percent compared to a year earlier, led by decline in gaming services (-25.1 percent) due to a decrease in the number of overnight visitors. Also, inventories declined (-29.4 percent); government expenditures fell 2 percent amid government’s reduced expenses on pandemic prevention; and consumer spending slid 2.7 percent in the face of an uncertain economic outlook, a sluggish domestic job market and resurgence of the pandemic in mainland China. Meanwhile, gross fixed capital formation rose 3.4 percent, boosted by increased investment on equipment.
2022-05-27
Macau’s Economy Contracts the Most in Four Quarters
Macau’s economy shrank 4.4 percent on year in the fourth quarter of 2021, the steepest fall since Q4 of 2020 and compared to an upwardly revised 33.8 percent expansion in the previous period. Exports of services fell by -0.3 percent compared to a year earlier, led by decline in gaming services (-14.4 percent). Meanwhile, exports of other tourism services increased by 8.9 percent and those of goods rose by 7.7 percent. At the same time, gross fixed capital formation declined further (-8.7 percent vs -1.7 percent in Q3 of 2021). Elsewhere both inventories (23.3 percent vs 34.8 percent) and consumer spending (0.4 percent vs 2.6 percent) slowed. On the contrary, government expenditures rebounded (1.3 percent vs -3.6 percent)
2022-03-04
Macau’s Economy Grows for Second Consecutive Quarter
Macau’s economy grew 32.9 percent year-on-year in Q3 of 2021, slowing from a downwardly revised 68.8 percent expansion in the previous period. Still, it was the second growth in a row, ending a more than two years of contraction. Export of services soared 181.3% from a year earlier, particularly gaming services (302.6%) and other tourism services (303.3%); and export of goods surged 51.4%. Meanwhile imports of goods rose by 43.7% whereas imports of services rose by 16%. Elsewhere inventories (34.4% vs 53.4% in Q2) and consumer spending (3% vs 12% ) slowed while government expenditure (-3.8% vs 3.1%) and gross fixed capital formation (-4.1 % vs -11.3%) declined, which capped the GDP growth.
2021-11-19