CONCLUDING REMARKS

Economic expansion of Macao in the first quarter of 2011 was mainly supported by favourable performance in exports of services, investment and private consumption expenditure, leading GDP to increase by 21.5% in real terms.

Looking ahead to the second quarter, in terms of domestic demand, investment is expected to register steady growth upon sustained construction investment by the private and public sectors;

unemployment rate will remain low amid satisfactory job market conditions, driving private

consumption to increase further. As regards external demand, protracted decrease in merchandise

exports is expected to bring about minimal effect to the economy; at the same time, vibrant growth

is envisaged in exports of tourism and gaming services, with visitor arrivals in April and May

increased by 10.1% year-on-year when gross gaming revenue surged by 43.1%. In sum, the

economy of Macao is expected to sustain double-digit growth in the second quarter of 2011.

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STATISTICAL TABLES

SYMBOLS AND ABBREVIATIONS

.. Not applicable r Revised figures - Absolute value equals zero

# Confidential data

~ No figure provided

0 ^# Magnitude less than half of the unit employed p Provisional figures

@ Figures are subject to revision later on

TEU Twenty-foot Equivalent Unit (20 feet × 8 feet × 8 feet)

Notes: Due to rounding, the totals may not correspond to the sums of the partial figures.

The figures presented are subject to regular revisions as and when required.

I. PRINCIPAL ECONOMIC INDICATORS OF THE WORLD AND MACAO

1. PRINCIPAL ECONOMIC INDICATORS OF THE WORLD (YEAR-ON-YEAR COMPARISON)

Year-on-year rate of change (%) 1/2

2010 2010 2010 2010 2011

Q1 Q2 Q3 Q4 Q1

USA

　Gross Domestic Product - -2.6 2.9

^r

2.4 3.0 3.2 2.8

^r

2.3

　Exports of goods 12.1 -18.0 21.0 20.5 25.3 20.6

^r

18.2 18.2

　Imports of goods 7.5 -25.9 22.6 21.2 31.8 22.9

^r

15.7 19.1

　Consumer Price Index 3.8 -0.4 1.7 2.4 1.8 1.2 1.3 2.1

　Unemployment rate 5.8 9.3 9.6 10.4 9.5 9.5 9.1 9.5

Euro area

^a

　Gross Domestic Product 0.4 -4.1 1.7 0.8 2.0 2.0

^r

1.9

^r

2.5

　Exports of goods 4.0

^r

-18.1 20.2

^r

12.9 22.4

^r

22.8

^r

22.3

^r

21.3

　Imports of goods 8.1

^r

-21.8

^r

22.3

^r

9.8

^r

27.6

^r

26.7

^r

25.5

^r

23.8

　Consumer Price Index 3.3 0.3 1.6 1.1 1.4

^r

1.7 2.0 2.5

　Unemployment rate 7.6 9.6

^r

10.1

^r

10.6

^r

9.9 9.8

^r

10.0

^r

10.5

Germany

　Gross Domestic Product 1.0 -4.7 3.6 2.5

^r

4.3 3.9 3.8

^r

5.2

　Exports of goods 2.0 -18.4

^r

19.4 11.1

^r

24.4

^r

21.5

^r

20.7 18.8

　Imports of goods 4.7 -17.5

^r

21.3 7.0

^r

27.8

^r

24.2

^r

26.7 20.9

　Consumer Price Index 2.6 0.3 1.1 0.8 1.1 1.2 1.5 2.1

　Unemployment rate 7.8 8.2 7.7 8.6 7.8 7.5 7.1 7.8

French

　Gross Domestic Product -0.2

^r

-2.6

^r

1.4

^r

1.0

^r

1.5

^r

1.7

^r

1.4

^r

2.2

　Exports of goods 2.6

^r

-17.3 12.3 7.5 12.6

^r

14.2

^r

14.7 12.7

　Imports of goods 5.1

^r

-17.7 12.8 6.2

^r

13.7

^r

18.8

^r

12.6 17.3

　Consumer Price Index 2.8 0.1 1.5 1.3 1.6 1.5 1.6 1.8

　Unemployment rate 7.8 9.5 9.8 10.2 9.4 9.6

^r

9.9 9.9

The United Kingdom

　Gross Domestic Product 0.5 -4.9

^r

1.3 -0.4

^r

1.5

^r

2.5

^r

1.5 1.8

　Exports of goods 14.1 -9.7 16.9 11.4

^r

21.2

^r

17.5

^r

16.1

^r

20.7

　Imports of goods 11.1 -10.2 17.2 10.1

^r

18.9

^r

20.8

^r

18.7

^r

14.7

　Consumer Price Index 3.6 2.1

^r

3.3 3.3 3.4 3.1 3.4 4.1

　Unemployment rate 5.7 7.7

^r

7.8

^r

8.0 7.8 7.7 7.9 7.7

a The Euro area consists of 17 member states from 2011 onwards.

Source : U.S. Bureau of Economic Analysis, U.S. Census Bureau, U.S. Bureau of Labor Statistics Eurostat

Federal Statistical Office of Germany

National Institute of Statistics and Economic Studies of France; French Customs Office for National Statistics of United Kingdom

2008 2009 2010

I. PRINCIPAL ECONOMIC INDICATORS OF THE WORLD AND MACAO

1. PRINCIPAL ECONOMIC INDICATORS OF THE WORLD (YEAR-ON-YEAR COMPARISON)

Year-on-year rate of change (%) 2/2

2010 2010 2010 2010 2011

Q1 Q2 Q3 Q4 Q1

Mainland China

　Gross Domestic Product 9.0 8.7 10.3 11.9 10.3 9.6 9.8 9.7

　Exports of goods 17.3 -15.9 31.3 28.7 40.9 32.2 24.9 26.4

　Imports of goods 18.5 -11.3 38.7 64.7 43.6 27.3

^r

29.6 32.7

　Consumer Price Index

^a

5.9 -0.7 3.3 2.2 2.6 2.9 3.3 5.0

Hong Kong

　Gross Domestic Product 2.3

^r

-2.7

^r

7.0

^r

8.0

^r

6.7

^r

6.9

^r

6.4

^r

7.2

　Exports of goods 5.1 -12.6 22.8 26.0 24.3 27.8 14.4 24.6

　Imports of goods 5.5 -11.0 25.0 34.3 29.9 24.1 15.1 20.6

　Consumer Price Index 4.3 0.5 2.4 1.9 2.6 2.3 2.8 4.0

　Unemployment rate 3.6 5.4 4.3 4.4 4.7 4.4 3.7 3.4

Taiwan, China

　Gross Domestic Product 0.7 -1.9 10.8 13.6 12.9 10.7

^r

6.9 6.2

　Exports of goods 3.6 -20.3 34.8 52.5 46.2 27.1

^r

20.9 19.5

　Imports of goods 9.7 -27.5 44.1 78.3 53.7

^r

31.5

^r

27.6 21.8

　Consumer Price Index 3.5 -0.9 1.0 1.3 1.1 0.4 1.1 1.3

　Unemployment rate 4.1 5.9 5.2 5.7 5.2 5.1 4.8 4.6

Japan

　Gross Domestic Product -1.2 -6.3

^r

4.0

^r

5.6

^r

3.1

^r

5.0

^r

2.2 -1.0

　Exports of goods -3.5 -33.1 24.4 43.2

^r

33.2 17.8 10.0 2.4

　Imports of goods 8.0 -34.8 18.0

^r

19.2

^r

28.1

^r

14.9

^r

11.3

^r

11.4

　Consumer Price Index 1.4 -1.4 -0.7 -1.2 -0.9 -0.8 0.1 -

　Unemployment rate 4.0 5.1 5.1 5.1 5.3 5.1 4.8 4.7

Republic of Korea

　Gross Domestic Product 2.3 0.3

^r

6.2

^r

8.5

^r

7.5

^r

4.4

^r

4.7

^r

4.2

　Exports of goods 13.6 -13.9 28.6 35.8 33.1 22.7

^r

23.8

^r

30.4

　Imports of goods 22.0 -25.8 31.8 37.4 42.8

^r

24.6

^r

24.6

^r

25.7

　Consumer Price Index 4.6 2.8 2.9 2.7 2.6 2.9 3.6 4.5

　Unemployment rate 3.2 3.6 2.9 4.7 3.5 3.5 3.3 4.2

Singapore

　Gross Domestic Product 1.5

^r

-0.8

^r

14.5 16.4

^r

19.4

^r

10.5

^r

12.0 8.3

　Exports of goods 5.8 -18.0 22.4 28.2 29.1 20.0

^r

14.5 13.4

　Imports of goods 13.9 -21.0 18.8 25.5 26.4 15.6

^r

9.7 10.2

　Consumer Price Index 6.6 0.6 2.8 0.9 3.1 3.4 4.0 5.2

　Unemployment rate 2.2 3.0 2.2 2.1 2.8 1.8 2.0 1.8

a Accumulated year-on-year comparison.

Source : China National Bureau of Statistics

Hong Kong SAR Census and Statistics Department

Directorate-General of Budget, Accounting and Statistics, Executive Yuan, Taiwan, China; Ministry of Economic Affairs, Taiwan, China Economic and Social Research Institute of Japan; Ministry of Finance of Japan; Statistics Bureau of Japan

National Statistics Office of Republic of Korea; Bank of Korea The Singapore Department of Statistics

2008 2009 2010

I. PRINCIPAL ECONOMIC INDICATORS OF THE WORLD AND MACAO

2. PRINCIPAL ECONOMIC INDICATORS OF THE WORLD (COMPARISON WITH PRECEDING PERIOD)

Change from preceding period (seasonally adjusted) (%)

2010 2010 2010 2010 2011

Q1 Q2 Q3 Q4 Q1

USA

　Gross Domestic Product - -2.6 2.9

^r

3.7 1.7 2.6

^r

3.1

^r

1.8

　Exports of goods 12.1 -18.0 21.0 5.8

^r

3.4 2.3 5.8 5.8

　Imports of goods 7.5 -25.9 22.6 6.0 6.3 1.7

^r

0.8 9.3

　Consumer Price Index 3.8 -0.4 1.7 0.3

^r

-0.1

^r

0.4 0.7 1.3

　Unemployment rate

^a

5.8 9.3 9.6 9.7 9.6

^r

9.6 9.6 8.9

Japan

　Gross Domestic Product -1.2 -6.3

^r

3.9 2.2

^r

0.1

^r

0.9

^r

-0.8

^r

-3.7

　Exports of goods -3.6

^r

-33.2

^r

24.6

^r

8.5

^r

5.5

^r

-2.9

^r

-1.3

^r

1.6

　Imports of goods 7.7

^r

-34.6

^r

18.0

^r

5.6

^r

5.0

^r

-1.0

^r

1.2

^r

5.8

　Consumer Price Index 1.4 -1.4 -0.7 0.2 -0.3

^r

-0.3

^r

0.6 0.1

　Unemployment rate

^a

4.0 5.1 5.1 4.9 5.2 5.1 5.0 4.7

Hong Kong

　Gross Domestic Product 2.3

^r

-2.7

^r

6.8 1.9

^r

1.9

^r

0.9

^r

1.5 2.8

　Exports of goods 5.1 -12.6 22.8 6.7

^r

3.6

^r

1.9

^r

-4.1 16.3

　Imports of goods 5.5 -11.0 25.0 6.8

^r

2.2

^r

1.0

^r

-2.7 12.1

　Consumer Price Index 4.3 0.5 2.4 0.9

^r

0.5 -1.3

^r

2.8 1.9

　Unemployment rate

^a

3.6 5.4 4.3 4.4 4.6 4.2 4.0 3.4

a Unemployment rate after seasonal adjustment.

Source : U.S. Bureau of Economic Analysis, U.S. Census Bureau, U.S. Bureau of Labor Statistics

Economic and Social Research Institute of Japan; Ministry of Finance of Japan; Statistics Bureau of Japan Hong Kong SAR Census and Statistics Department

3. GROSS DOMESTIC PRODUCT OF MACAO

2010 2010 2010 2010 2011

Q1

^r

Q2

^r

Q3

^r

Q4

^r

Q1

^@

At current prices:

GDP (MOP billion) 166.0 170.1 223.7 47.3 53.1 57.0 66.3 61.0

GDP per capita (MOP thousand) 302.4 312.5 409.8 .. .. .. .. ..

Chain volume measures in chained (2009) dollars:

GDP (MOP billion) 167.4 170.1 214.9 46.5 51.3 54.8 62.3 56.5

% growth in real terms

GDP 3.4 1.6 26.4 17.6 31.6 27.4 28.4 21.5

Private consumption expenditure 5.8 2.3 6.4 3.9 7.6 8.6 5.6 12.6

In the domestic market 4.3 0.6 4.8 3.8 4.1 5.6 5.4 9.6

Abroad 7.9 10.1 16.5 5.9 26.6 28.7 8.8 24.5

Government final consumption expenditure 2.3 11.5 5.4 -8.2 7.2 6.8 12.5 -1.8

Gross fixed capital formation -14.8 -32.3 -19.5 -48.7 -36.4 -4.8 13.5 28.4

Private sector -14.2 -36.8 -25.2 -49.2 -37.1 -15.3 12.1 28.4

Government -23.7 34.4 22.7 1.3 -26.5 70.6 17.3 32.2

Exports of goods -22.0 -48.2 -7.3 -9.0 -7.8 -9.5 -2.8 -6.7

Exports of services 14.6 3.9 47.1 46.2 63.5 40.8 41.4 30.0

Imports of goods -8.4 -24.0 10.7 8.0 9.5 9.8 15.0 22.7

Imports of services 18.5 -12.6 46.0 50.7 53.7 38.2 44.0 37.3

Note: Starting from the third quarter of 2010, the chain volume measures of GDP are adopted; data series of the preceding years have been revised according to the new methodology.

2010

2009

^r

2008

^r

2008 2009

2010

^r

I. PRINCIPAL ECONOMIC INDICATORS OF THE WORLD AND MACAO

4. PRINCIPAL ECONOMIC INDICATORS OF MACAO

2011 2010 2010 2010 2010 2011

Q1 to Q1 Q1 Q2 Q3 Q4 Q1

A. External Merchandise trade (MOP million)

Total exports 16 025.4 7 672.5 6 960.0 1 626.1 1 822.2 1 810.3 1 653.6 1 673.9 1 626.1 -10.8

Textiles and garments 9 145.2 2 469.9 1 627.3 337.2 381.2 395.0 467.1 384.0 337.2 -11.5

Other products 6 880.2 5 202.6 5 332.7 1 288.9 1 441.0 1 415.3 1 186.5 1 289.9 1 288.9 -10.6

Total imports 43 034.2 36 902.0 44 118.4 13 188.1 9 830.5 10 515.0 11 415.7 12 357.1 13 188.1 34.2

Trade balance -27 008.8 -29 229.4 -37 158.4 -11 561.9 -8 008.4 -8 704.7 -9 762.1 -10 683.2 -11 561.9 -44.4

B. Gaming and tourism

Gross gaming revenue (excluding gratuities)(MOP million) 109 826 120 383 189 588 58 835 41 248 45 219 47 723 55 398 58 835 42.6

y-on-y % change 31.0 9.6 57.5 42.6 57.1 76.5 49.0 51.9 42.6

No. of visitor arrivals(thousand) 22 933.2 21 752.8 6 24 965.4 431.2 6 115.2 6 114.2 6 359.1 6 376.8 6 431.2 5.2

Average length of stay of visitors (days) 1.1 1.1 0.9^c .. 0.9^cr 0.9 0.9 0.9 0.9^c

Visitor spending per capita ^b(MOP) 1 729 1 616 1 518^c .. 1 417^cr 1 575 1 648 1 812 1 516^c 7.0

Hotel occupancy rate (%) 74.3 71.4 79.8 81.0 79.1 78.2 78.9 83.0 81.0 1.9^a

C. Construction and real estate

Expenditure on public works (MOP million) 2 419.7 3 021.2 4 076.2 36.5 20.8 358.4 1 315.6 2 381.4 36.5 75.2

Private sector construction

　　 Buildings started - no. of units 2 046 1 547 870 93 508 41 132 189 93 -81.7

　　 Buildings started - gross floor area (thousand m²) 533 229 184 9 125 6 22 31 9 -92.5

　　 Buildings completed - no. of units 1 177 3 251 4 527 567 149 1 869 466 2 043 567 280.5

　　 Buildings completed - gross floor area (thousand m²) 584 1 406 1 272 164 65 609 241 356 164 153.2

No. of building units transacted ^d 21 516 17 310 29 617 7 422 6 386 8 575 5 838 8 818 7 422 16.2

Value of building units transacted ^d(MOP million) 35 024.9 26 298.7 56 753.6 17 670.2 10 024.5 16 795.0 10 567.1 19 367.1 17 670.2 76.3

D. Transport

　 Seaborne containerised cargo (tonne) 328 196 180 413 178 380 38 382 40 408 46 421 46 655 44 895 38 382 -5.0

　 Containerised land cargo (tonne) 104 312 51 694 45 718 9 282 9 850 11 458 13 393 11 017 9 282 -5.8

　 Air cargo (tonne) 100 767 52 464 52 166 8 520 13 330 14 570 10 868 13 397 8 520 -36.1

E. Prices and consumption

Inflation rate (%) 8.6 1.2 2.8 5.0 1.5 2.7 3.1 3.9 5.0 ..

Composite Consumer Price Index (4/2008-3/2009=100) 100.2 101.4 104.2 108.0 102.8 104.0 104.6 105.6 108.0 5.0

Retail sales turnover (MOP million) 19 391 22 354 29 851^r 9 595 6 962^r 6 865 7 529 8 496^r 9 595 37.8

F. Employment

Unemployment rate (%) 3.0 3.6 2.8 .. 2.9 2.8 2.9 2.7 2.7 -0.2^a

Median monthly employment earnings (MOP thousand) 8.0 8.5 9.0 .. 9.0 8.5 9.0 9.0 9.6 6.7

Non-resident workers in Macao (end-period) 92 161 74 905 75 813 .. 72 843 72 142 74 525 75 813 81 416 11.8

G. Public accounts (MOP million)

Total revenue 62 259.3 69 870.9 79 635.8 24 355.7 16 399.2 19 118.6 20 302.8 23 815.2 24 355.7 48.5

Tax revenue from gaming 43 207.5 45 697.5 68 776.1 21 864.5 14 900.0 16 996.6 17 362.4 19 517.1 21 864.5 46.7

Total expenditure 30 443.4 35 459.9 37 758.1 7 057.6 3 487.4 5 383.7 15 035.5 13 851.5 7 057.6 102.4

Balance 31 815.9 34 411.0 41 877.8 17 298.1 12 911.8 13 734.9 5 267.3 9 963.7 17 298.1 ..

H. Money and finance (period-end values, MOP million)

　 Narrow money supply (M1) 24 729.6 30 606.8 34 721.1 33 831.6 31 452.2 34 433.3 34 132.3 34 721.1 33 831.6 7.6

　 Broad money supply (M2) 189 790.3 212 233.3 243 247.3 256 991.2 215 934.5 222 160.0 236 970.2 243 247.3 256 991.2 19.0 　 Resident deposits 185 389.8 207 327.4 237 626.9 250 695.5 210 808.9 217 138.2 231 505.6 237 626.9 250 695.5 18.9 　 Domestic credit to the private sector 91 801.6 101 125.2 130 676.9 140 101.1 105 336.4 112 132.8 119 789.9 130 676.9 140 101.1 33.0 　 Net foreign assets 233 256.6 275 171.7 333 802.8^r 354 061.4 284 127.9 296 525.1 320 377.8 333 802.8^r 354 061.4 24.6 Foreign exchange reserves 127 160.6 146 578.7 190 186.8 204 084.5 156 225.2 163 707.6 169 670.1 190 186.8 204 084.5 30.6

I. Others

　No. of new companies incorporated 2 738 2 529 2 991 768 694 778 782 737 768 10.7

　No. of companies in dissolution 447 469 492 137 128 125 120 119 137 7.0

　Consumption of electricity (million kWh) 3 311.7 3 463.3 3 655.5 736.2 742.6 954.7 1 120.3 838.0 736.2 -0.9

a Percentage points.

b Visitor spending does not include gaming expenses.

c Results from statistical extrapolation.

d Including residential units exempt from payment of Stamp Duty.

2008

2011 Q1 year-on-year

% change

2009 2010

在文檔中 MACAO ECONOMIC BULLETIN (頁 30-39)