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. source: Statistics and Census Service, Government of Macao SAR
GDP Annual Growth Rate in Macau averaged 4.88 percent from 2002 until 2020, reaching an all time high of 54.30 percent in the second quarter of 2004 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 March of 2021.
GDP Annual Growth Rate in Macau is expected to be 25.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Macau to stand at 15.00 in 12 months time. 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.