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.