Macau’s gross domestic product (GDP) “returned to positive growth” in the three months to June 30, supported by “government efforts to boost” the number of visitors to the city and “steady domestic private consumption”. That is according to a report published on Friday by the city’s Statistics and Census Bureau.
Macau’s second-quarter GDP rose 5.1 percent year-on-year in real terms, to MOP100.39 billion (US$12.45 billion), showed the data.
“The overall economic output returned to 88.8 percent of the level in the same period of 2019,” stated the statistics bureau.
The city’s first-quarter GDP contracted by 1.3 percent year-on-year in real terms, according to official data.
Exports of gaming services in the April to June period this year rose by 9.9 percent from a year ago, while exports of other tourism services increased by 5.9 percent.
Gaming and tourism services in Macau are included in exports when calculating the city’s GDP in order to reflect spending by tourists in the city’s casinos and other tourism-focused businesses.
In late April, the International Monetary Fund halved its forecast for Macau’s economic growth in 2025. The institution expects Macau’s GDP to expand by 3.6 percent this year, down from a previous estimate of 7.3 percent made in October.
