Macau’s economy expanded 69.5 percent year-on-year in Q2 of 2021, rebounding from a 0.9 percent contraction in the previous period. It was the highest growth rate since the series began in 2002, ending a more than two years of contraction with the pick-up in external demand and the epidemic under control helping growth. Exports of services soared 555.6% from a year earlier (vs 4.1% in Q1), particularly gaming services (1,089.7%) and other tourism services (1,328.3%); and exports of goods surged by 606.9% ( vs 137.7%). Meanwhile imports of goods swelled by 173.5% (vs 81.7%) while imports of services rose by 54.2% ( vs -2%). Elsewhere, inventories (219% vs 85.5%) and government expenditure (0.4% vs 0.2%) advanced faster while consumer spending slowed (11.5% vs 14.8%) and gross fixed capital formation declined (-10.1% vs 20.3%). source: Statistics and Census Service, Government of Macao SAR
GDP Annual Growth Rate in Macau averaged 5.63 percent from 2002 until 2021, reaching an all time high of 69.50 percent in the second quarter of 2021 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 October 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. 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.