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%). source: Statistics and Census Service, Government of Macao SAR

GDP Annual Growth Rate in Macau averaged 5.44 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 -67.80 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 December of 2020.

GDP Annual Growth Rate in Macau is expected to be 1.50 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 10.00 in 12 months time. In the long-term, the Macau GDP Annual Growth Rate is projected to trend around 5.00 percent in 2021, according to our econometric models.

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Macau GDP Annual Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
-63.80 -68.00 54.30 -68.00 2002 - 2020 percent Quarterly


Calendar GMT Actual Previous Consensus TEForecast
2020-02-29 08:00 AM Q4 -8.1% -4.4% -3.2%
2020-05-30 01:00 PM Q1 -48.7% -8.1% -10.3%
2020-08-21 09:50 AM Q2 -67.8% -48.7% -12%
2020-11-20 10:00 AM Q3 -63.8% -68.0% -15%
2021-02-28 08:00 AM Q4 -63.8%
2021-05-30 01:00 PM Q1
2021-08-21 09:50 AM Q2
2021-11-20 04:00 AM Q3


News Stream
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 Economy Shrinks at Fresh Record Pace
Macau's economy shrank 67.8 percent year-on-year in the three months to June of 2020, following a 48.7 percent drop in the previous period. It was the sixth consecutive quarter of contraction in the economy and the steepest yearly contraction on new record, mainly due to demand-side shocks caused by the coronavirus pandemic. Regarding net trade, total exports slumped 90.1 percent, with services plunging 92.3 percent (vs -60 percent in Q1) and exports of goods declining 26.4 percent (vs -23.5 percent in Q1). Meantime, total imports fell 34.4 percent ( vs -30.7 percent in Q1). At the same time, private consumption decreased more (-16.5 percent vs -15.2 percent in Q1). Meanwhile, gross fixed capital formation continued to decline (-8.1 percent vs -37.2 percent). On the other hand, government spending expanded further (14.0 percent vs 5.0 percent).
2020-08-21
Macau Q1 Economy Shrinks at Record Pace
Macau's economy shrank 48.7 percent year-on-year in the three months to March of 2020, following an 8.1 percent fall in the previous period. It was the fifth consecutive quarter of contraction and the steepest yearly contraction on record since the series began in 2002, mainly due to demand-side shocks caused by the coronavirus pandemic. Regarding net trade, total exports plunged 58.4 percent, with services tumbling 60 percent (from -7.5 percent in Q4) and exports of goods falling 23.5 percent (from -6.2 percent in Q4). Meantime, total imports dropped 30.7 percent. At the same time, private consumption slumped (-15.2 percent vs 2.7 percent in Q4). Also, gross fixed capital formation dropped at a much faster pace (-37.2 percent vs -14.5 percent). On the other hand, government spending continued to expand (5.0 percent vs 1.9 percent).
2020-05-30
Macau Q4 Economy Shrinks the Most in Near 4 Years
Macau GDP slump 8.1 percent year-on-year in the three months to December of 2019, following a downwardly revised 4.4 percent drop in the previous period. It was the fourth consecutive quarter of contraction and the steepest drop since the first quarter 2016, as both household (2.7 percent vs 2.8 percent in Q3) and government spending (1.9 percent vs 4.3 percent) eased. Meanwhile, gross fixed capital formation dropped at a much faster pace (-14.5 percent vs -8.5 percent). Regarding net trade, totals exports declined 7.4 percent, with services down 7.5 percent (from -4.7 percent in Q3) and exports of goods fell 6.2 percent (from 0.5 percent in Q3). Meantime, total imports went up 1.0 percent. For 2019 full year, the economy shrank 4.7 percent year-on-year, reversing from a 5.4 percent expansion in 2018.
2020-02-29

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.