ZCZC
BCN-11
MACAO-GDP-ECONOMY
Macao GDP up by 6 pct in Q2 2018
MACAO, Aug. 27, 2018 (BSS/Xinhua) – Macao’s gross domestic product (GDP)
in the second quarter of 2018 grew by 6.0 percent year-on-year in real terms,
the special administrative region’s statistic department said here on Sunday.
Statistics and Census Service (DSEC) said in its latest report that
attributable to the steady growth in exports of services and private
consumption, the growth in the second quarter was lower than the 9.2 percent
rise in the previous quarter due to a smaller increase in exports of services
and a notable decline in investment.
External demand maintained growth, which pushed up exports of services by
13.0 percent year-on-year, with exports of gaming services and other tourism
services rising by 13.7 percent and 13.0 percent respectively.
Meanwhile, exports of goods went up by 30.0 percent, the report added.
Domestic demand eased slightly owing to an 11.9 percent decrease in
investment. Private consumption expenditure and government final consumption
expenditure rose by 5.3 percent and 5.1 percent respectively year-on-year.
Private consumption expenditure showed solid growth. Total employment and
employment earnings increased amid good employment situation, driving private
consumption expenditure up by 5.3 percent year-on-year, higher than the 4.8
percent rise in the previous quarter.
Government final consumption expenditure registered increase, up by 5.1
percent year-on-year, higher than the 2.2 percent growth in the previous
quarter. Compensation of employees and net purchases of goods and services
went up by 3.3 percent and 8.8 percent respectively.
Private investment decreased, leading to a larger drop in gross fixed
asset investment. Gross fixed asset investment contracted by 11.9 percent
year-on-year, a much greater decline compared to the 1.9 percent drop in the
previous quarter.
Exports of services remained the major driving force for economic growth
despite a smaller rate of increase. The growth in total exports of services
slowed from 16.0 percent in the first quarter to 13.0 percent, with exports
of gaming services and other tourism services rising by 13.7 percent and 13.0
percent respectively.
BSS/XINHUA/HR/1115