Gaming exports aid Macau return to y-o-y GDP growth in 2Q

Aug 27, 2021 Newsdesk Latest News, Macau, Top of the deck  

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Macau’s gross domestic product (GDP) rebounded by 69.5 percent year-on-year in real terms in the second quarter of 2021, according to data from the city’s Statistics and Census Service.

Exports of services rose by 555.6 percent year-on-year, of which exports of gaming services and other tourism services jumped by 1,089.7 percent and 1,328.3 percent respectively. Exports of goods went up by 606.9 percent year-on-year.

The Macau economy “resumed positive growth” in the three months to June 30, “on account of a relatively low base of comparison in the same quarter last year, when local economic activities were limited due to the entry restrictions for visitors amid the [Covid-19] pandemic,” said a Friday press release from the city’s Statistics and Census Service.

With the pandemic “remaining under control” locally, the city’s government noted that a pickup in external demand in the second quarter contributed to GDP growth.

Domestic demand grew year-on-year, rising by 3.7 percent. Imports of goods rose by 173.5 percent, while imports of services rose by 54.2 percent.

The city’s GDP for the whole of 2020 contracted by 56.3 percent year -on-year in real terms, according to official data.

 

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