Macau’s economy expanded 69.5 percent year-on-year in Q2 of 2021, rebounding from a 0.9 percent contraction in the previous period. It was the highest growth rate since the series began in 2002, ending a more than two years of contraction with the pick-up in external demand and the epidemic under control helping growth. Exports of services soared 555.6% from a year earlier (vs 4.1% in Q1), particularly gaming services (1,089.7%) and other tourism services (1,328.3%); and exports of goods surged by 606.9% ( vs 137.7%). Meanwhile imports of goods swelled by 173.5% (vs 81.7%) while imports of services rose by 54.2% ( vs -2%). Elsewhere, inventories (219% vs 85.5%) and government expenditure (0.4% vs 0.2%) advanced faster while consumer spending slowed (11.5% vs 14.8%) and gross fixed capital formation declined (-10.1% vs 20.3%). source: Statistics and Census Service, Government of Macao SAR

GDP Annual Growth Rate in Macau averaged 5.63 percent from 2002 until 2021, reaching an all time high of 69.50 percent in the second quarter of 2021 and a record low of -67.90 percent in the second 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 September of 2021.

GDP Annual Growth Rate in Macau is expected to be 35.00 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 2022, according to our econometric models.

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Macau GDP Annual Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
69.50 -0.90 69.50 -67.90 2002 - 2021 percent Quarterly


Calendar GMT Actual Previous Consensus TEForecast
2020-11-20 10:00 AM Q3 -63.8% -68.0% -15%
2021-03-05 09:50 AM Q4 -45.9% -63.8% -35%
2021-05-28 10:00 AM Q1 -0.9% -45.9% 15.9%
2021-08-27 10:00 AM Q2 69.5% -0.9% 1%
2021-11-20 10:00 AM Q3 69.5%


News Stream
Macau’s Economy Records The Highest Expansion Ever
Macau’s economy expanded 69.5 percent year-on-year in Q2 of 2021, rebounding from a 0.9 percent contraction in the previous period. It was the highest growth rate since the series began in 2002, ending a more than two years of contraction with the pick-up in external demand and the epidemic under control helping growth. Exports of services soared 555.6% from a year earlier, particularly gaming services (1,089.7%) and other tourism services (1,328.3%); and exports of goods surged by 606.9%. Meanwhile imports of goods swelled by 173.5% while imports of services rose by 54.2%. Elsewhere, inventories (219% vs 85.5% in Q1) and government expenditure (0.4% vs 0.2%) advanced faster while consumer spending slowed (11.5% vs 14.8%) and gross fixed capital formation declined (-10.1% vs 20.3%).
2021-08-27
Macau Economy Contracts at Softest Pace in 2 Years
Macau's economy retreated 0.9 percent year-on-year in the first quarter of 2021, following a 45.9 percent plunge in the previous period. It was the ninth straight contraction in GDP but the softest since the economy went into recession in the first quarter of 2019, weighed down by a surge in imports of goods (81.7 percent vs 31.3 percent in 4Q 2020). On the other hand, the largest positive contributions to the Macanese economy came from a surge in exports of goods (137.7 percent vs 245.2 percent), followed private consumption expenditure (14.8 percent vs 10.2 percent), gross fixed capital formation (20.3 percent vs -12.3 percent), and exports of services (4.1 percent vs -61.0 percent). On a smaller scale, the economy also benefited from an expansion in inventories (85.5 percent vs 19.1 percent) and a drop in imports of services (-2.0 percent vs -29.5 percent), while government spending little weighed on GDP growth (0.2 percent vs 8.4 percent).
2021-05-28
Macau Economy Shrinks at Softest Pace in 2020
Macau's economy shrank 45.9 percent year-on-year in the final quarter of 2020, after a 63.8 percent plunge in the previous period. It was the eighth consecutive contraction in the economy but the softest in a year, amid an expansion in inventories (19.1 percent vs -6.7 percent in Q3) and a smaller contraction in private consumption (-10.2 percent vs 18.3 percent). Meantime, government spending continued to grow (8.4 percent vs 17.8 percent), mainly due to the economic relief and pandemic prevention measures. Regarding trade, total exports fell at a slower pace (-46.2 percent vs -75.0 percent), as visitor arrivals from Mainland China continued to recover, while total imports rebounded (15.0 percent vs -1.2 percent). In contrast, gross fixed capital formation shrank at a steeper pace (-12.3 percent vs -6.2 percent). Considering full 2020, output contracted 56.3 percent, after a 4.7 percent decline in 2019.
2021-03-05
Macau Q3 Economy Shrinks at Second Fastest Pace on Record
Macau's economy shrank 63.8 percent year-on-year in the three months to September of 2020, after an upwardly revised 68 percent plunge in the previous period, following the easing of travel restrictions for Mainland residents to visit Macao. It was the seventh consecutive quarter of contraction in the economy and the second steepest yearly contraction on record, mainly due to demand-side shocks caused by the coronavirus pandemic. Regarding net trade, total exports slumped 75 percent (vs -90.1% in Q2), with services plunging 87.5 percent (vs -92.3% in Q2) while exports of goods soaring 252.2 percent (vs -26.4% in Q2). Meantime, total imports fell by 1.2 percent ( vs -34.4% in Q2). At the same time, private consumption fell by 16.7 percent (vs -16.5% in Q2), while gross fixed capital formation contracted less (-5.6% vs -8.1%). On the other hand, government spending expanded faster (18.6% vs 14.0%).
2020-11-20

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.