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). source: Statistics and Census Service, Government of Macao SAR
GDP Annual Growth Rate in Macau averaged 4.81 percent from 2002 until 2021, 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 August of 2021.
GDP Annual Growth Rate in Macau is expected to be 55.00 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 5.00 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.