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.