Statistics

Macao's economy expands by 21.5% in Q1

(Xinhua)
Updated: 2011-05-31 11:41

MACAO -- Spurred by favorable performance of the gaming sector, Macao's Gross Domestic Product (GDP) for the first quarter of 2011 grew by 21.5 percent year-on-year, according to the figures released on Monday by Macao's Statistics and Census Service (DSEC).

Related readings:  Macao's inflation hits 4.88% in April  Macao's visitor per-capita spending up 7% in Q1  Macao's residential unit prices up 14.6% in Q1  Macao's forex reserves reach $26.04b in April

Analyzed by major components, exports of gaming services and investment soared by 36.1 percent and 28.4 percent respectively in the period when total visitor spending, excluding gaming expenses, increased by 2.6 percent, the figures indicated.

Meanwhile, protracted decline in merchandise exports continued to register a decrease of 6.7 percent in the first quarter of 2011, while merchandise imports increased by 22.7 percent, the DSEC said.

Due to the continuous booming tourism and gaming sector, rise in total employment and income, as well as low unemployment rate in the first quarter, private consumption expenditure increased by 12.6 percent, of which final consumption expenditure in the domestic market rose by 9.6 percent, while final consumption expenditure abroad surged by 24.5 percent.

The figures also indicated that private investment during the same period grew by 28.4 percent year-on-year, while government investment increased by 32.2 percent.