H. OTHER ECONOMIC INDICATORS
III. CONCLUDING REMARKS
In the fourth quarter of 2013, the economy of Macao grew beyond expectations by 14.3%
year-on-year in real terms, higher than the 11.9%, 9.8% and 11.2% growth in the first three quarters of 2013. Economic growth was spurred by the increase in exports of gaming and tourism services.
For the whole year of 2013, the economy expanded by 11.9% in real terms.
Looking ahead for the first quarter of 2014, domestic demand is forecast to grow further and total investment is likely to increase upon rising private investment; private consumption expenditure is expected to see steady rise on account of the increase in total employment and employment earnings. As regards external demand, merchandise export is likely to maintain growth;
meanwhile, exports of services are expected to have satisfactory rise as visitor arrivals and gross gaming revenue for the first two months increased by 8.0% and 23.6% respectively. Taking into consideration these factors and the Lunar New Year shopping season in the first quarter, the economy of Macao is forecast to see satisfactory growth in the first quarter of 2014.
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)
Note: Due to rounding, total may not correspond to the sum of the partial figures.
Figures are subject to regular revisions when required.
I. PRINCIPAL ECONOMIC INDICATORS OF THE WORLD AND MACAO
1. PRINCIPAL ECONOMIC INDICATORS OF THE WORLD (YEAR-ON-YEAR COMPARISON)
%
2012 2013 2013 2013 2013
Q4 Q1 Q2 Q3 Q4
USA
Gross Domestic Product 1.8 2.8 1.9 2.0 1.3 1.6 2.0r 2.5
Exports of goods 15.8 4.4 2.1 2.8 0.5 1.6 2.8 3.7
Imports of goods 15.4 3.0 -0.3 0.6 -2.8 -1.3 1.7r 1.0
Consumer Price Index 3.1 2.1 1.5 1.9 1.7 1.4 1.6 1.2
Unemployment rate 8.9 8.1 7.4 7.5 8.1 7.4 7.3 6.7
Euro area a
Gross Domestic Product 1.6 -0.7 -0.5 -1.0 -1.2 -0.6 -0.3r 0.5
Exports of goods 13.0 7.5r 0.8 5.7r 0.7r 1.6r 0.1r 0.8
Imports of goods 13.3 1.9 -3.2 1.1r -5.2 -3.0r -2.1r -2.6
Consumer Price Index 2.7 2.5 1.4 2.3 1.9 1.4 1.3 0.8
Unemployment rate 10.1 11.4 12.1 11.8 12.6 11.9r 11.7r 12.0
Germany
Gross Domestic Product 3.3 0.7 0.4 - -1.6 0.9 1.1 1.3
Exports of goods 11.5 3.3 -0.2 1.0 -1.9 0.2 -0.8 1.9
Imports of goods 13.2 0.4 -1.1 -1.1 -3.7 -0.1 -0.5 -
Consumer Price Index 2.1 2.0 1.5 2.0 1.5 1.5 1.6 1.3
Unemployment rate 7.1 6.8 6.9 6.6 7.4 6.8 6.7 6.6
French
Gross Domestic Product 2.0 - 0.3 -0.3 -0.4 0.5 0.3r 0.8
Exports of goods 9.0 3.9r -1.6 1.6 -1.7r -0.4r -2.4 -1.8
Imports of goods 12.9r 1.9r -2.4 0.7r -3.2r -2.7r -1.9r -1.5
Consumer Price Index 2.1 2.0 0.9 1.5 1.1 0.8 0.9 0.6
Unemployment rate 9.6 10.2 10.8 10.8 11.2 10.4r 10.6r 11.0
United Kingdom
Gross Domestic Product 1.1 0.3r 1.8 0.2r 0.6r 1.8r 1.9r 2.7
Exports of goods 12.5 0.7 1.3 -2.9r -0.4 6.4r -0.5r -0.3
Imports of goods 9.5 2.7 0.8 1.0r -0.3r 2.0r 2.9r -1.2
Consumer Price Index 4.5 2.8 2.5 2.6 2.8 2.7 2.8 2.1
Unemployment rate 8.1 7.9 7.6 7.8 7.8 7.8 7.6 7.2
a Consists 17 member states since 2011.
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
2011 2012 2013
I. PRINCIPAL ECONOMIC INDICATORS OF THE WORLD AND MACAO
1. PRINCIPAL ECONOMIC INDICATORS OF THE WORLD (YEAR-ON-YEAR COMPARISON) (Cont'd)
%
2012 2013 2013 2013 2013
Q4 Q1 Q2 Q3 Q4
Mainland China
Gross Domestic Product 9.2 7.8 7.7 7.9 7.7 7.5 7.8 7.7
Exports of goods 20.3 7.9 7.9 9.4 18.3 3.8 3.9 7.4
Imports of goods 25.0 4.3 7.3 2.7 8.6 4.8r 8.5r 7.2
Consumer Price Index a 5.4 2.6 2.6 2.6 2.4 2.4 2.5 2.6
Hong Kong
Gross Domestic Product 4.9 1.5 2.9 2.9r 2.9 3.1r 2.8r 3.0
Exports of goods 10.1 2.9 3.6 7.0 4.0 2.4 3.3 4.8
Imports of goods 11.9 3.9 3.8 8.1 4.9 3.5 2.6 4.3
Consumer Price Index 5.3 4.1 4.3 3.8 3.7 4.0 5.3 4.3
Unemployment rate 3.4 3.3 3.3 3.1 3.4 3.4 3.5 3.1
Taiwan
Gross Domestic Product 4.2r 1.5r 2.1 3.9r 1.4r 2.7r 1.3r 3.0
Exports of goods 12.3 -2.3 1.4 2.4 2.4 2.4 -0.8 1.8
Imports of goods 12.0 -3.9 -0.1 -0.1 4.4 -3.5 -3.3 2.2
Consumer Price Index 1.4 1.9 0.8 1.8 1.8 0.8 - 0.6
Unemployment rate 4.4 4.2 4.2 4.3 4.2 4.1 4.3 4.2
Japan
Gross Domestic Product -0.5r 1.4r 1.6 -0.3r -r 1.2r 2.3r 2.7
Exports of goods -2.7 -2.7 9.5 -5.5 1.2 7.1 12.7 17.4
Imports of goods 12.1 3.8 15.0 0.5 8.1 10.4 17.5r 24.0
Consumer Price Index -0.3 - 0.3 -0.2 -0.6 -0.3 0.9 1.4
Unemployment rate 4.6 4.3 4.0 4.0 4.2 4.2 4.0 3.7
Republic of Korea
Gross Domestic Product 3.7 2.0 2.8 1.5 1.5 2.3 3.3 3.9
Exports of goods 19.0 -1.3 2.1 -0.4 0.4 0.7 2.7r 4.7
Imports of goods 23.3 -0.9 -0.8 -1.1 -3.0 -2.8 0.3r 2.5
Consumer Price Index 4.0 2.2 1.3 1.7 1.6r 1.2r 1.4r 1.1
Unemployment rate 3.4 3.2 3.1 2.8 3.6 3.1 3.0 2.8
Singapore
Gross Domestic Product 6.0r 1.9r 4.1 2.2r 0.6r 4.2r 5.8 5.5
Exports of goods 7.5 -0.9 0.6 -5.1 -8.7 -0.2 5.8r 6.0
Imports of goods 8.6 3.2 -1.6 -0.4 -9.3 -4.0 5.9 1.4
Consumer Price Index 5.2 4.6 2.4 4.0 4.0 1.6 1.8 2.0
Unemployment rate 2.0 2.0 1.9 1.6 1.8 2.6 1.6r 1.6
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; Ministry of Economic Affairs, Taiwan 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
2011 2012 2013
I. PRINCIPAL ECONOMIC INDICATORS OF THE WORLD AND MACAO
2. PRINCIPAL ECONOMIC INDICATORS OF THE WORLD (QUARTER-TO-QUARTER COMPARISON)
%
2012 2013 2013 2013 2013
Q4 Q1 Q2 Q3 Q4
USA
Gross Domestic Product 1.8 2.8 1.9 0.1 1.1 2.5 4.1r 2.4
Exports of goods 15.8 4.4 2.1 -0.2 0.5r 1.0 0.5 2.0
Imports of goods 15.4 3.0 -0.3 0.4 -0.5 0.1 1.0r 0.2
Consumer Price Index 3.1 2.1 1.5 0.6r 0.3r 0.1r 0.5r 0.3
Unemployment ratea 8.9 8.1 7.4 7.8 7.7 7.5r 7.2r 7.0
Japan
Gross Domestic Product -0.5r 1.4r 1.6 -0.1r 1.2r 1.0r 0.3r 0.3
Exports of goods -2.7r -3.0r 9.6 -1.4 7.5r 4.7r 1.5r 2.1
Imports of goods 12.2 3.4 15.1 -0.2r 8.6r 2.2r 5.3r 6.0
Consumer Price Index -0.3 - 0.3 - -r 0.2 0.7r 0.5
Unemployment ratea 4.6 4.3 4.0 4.2 4.2 4.0 4.0 3.9
Hong Kong
Gross Domestic Product 4.9 1.5 2.9 1.1r 0.5r 0.6r 0.7r 1.1
Exports of goods 10.1 2.9 3.6 3.4r -1.9r -1.2r 2.2r 3.6
Imports of goods 11.9 3.9 3.8 3.2r -1.1r -0.6r 1.9r 3.6
Consumer Price Index 5.3 4.1 4.3 3.7 1.1r 1.3r -0.8r 2.7
Unemployment ratea 3.4 3.3 3.3 3.2 3.5 3.3 3.3 3.2
a 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
2012 2013 2013 2013 2013
Q4 Q1 Q2 Q3 Q4@
At current prices:
GDP (Million MOP) 293 745 343 416 413 471 96 468 94 606 96 900 102 746 119 219
GDP per capita ('000 MOP) 534.7 603.5 697.5 .. .. .. .. ..
Chain volume measures in chained (2011) dollars:
GDP (Million MOP) 293 745 320 591 358 704 87 979 84 697 84 983 88 440 100 584
Year-on-Year change in real terms (%)
GDP 21.3 9.1 11.9 6.9 11.9 9.8 11.2 14.3
Private consumption expenditure 11.0 8.7 6.3 6.2 9.1 3.4 6.4 6.5
In the domestic market 10.6 8.1 6.5 7.4 8.8 5.3 5.9 6.2
Abroad 10.5 12.1 4.9 6.5 5.7 1.7 3.4 8.4
Government final consumption expenditure 5.8 6.2 6.3 6.9 6.7 6.1 6.4 6.1
Gross fixed capital formation 16.9 19.9 4.7 22.9 8.2 -1.6 1.4 9.5
Private sector 7.1 9.3 27.3 10.0 19.0 14.7 17.8 58.1
Government 62.1 51.8 -48.1 39.6 -38.6 -61.0 -55.0 -43.8
Exports of goods -0.6 30.2 11.4 23.8 16.2 9.9 3.7 15.9
Exports of services 29.5 6.5 12.0 3.4 8.4 11.1 12.2 16.0
Imports of goods 27.3 12.4 15.1 8.2 7.9 13.8 15.0 22.8
Imports of services 32.2 1.4 0# 0.9 -2.4 -0.1 0.6 1.9
2013
2011
2011 2012
2012 2013
I. PRINCIPAL ECONOMIC INDICATORS OF THE WORLD AND MACAO
4. PRINCIPAL ECONOMIC INDICATORS OF MACAO
2012 2013 2013 2013 2013
Q4 Q1 Q2 Q3 Q4
A. External Merchandise Trade (Million MOP)
Total exports 6 970.9 8 159.7 9 093.9 2 010.2 2 338.8 2 252.8 2 137.8r 2 364.5 17.6
Textiles and garments 1 339.0 1 053.4 846.9 236.3 211.4 221.9 219.3 194.2 -17.8
Other products 5 631.9 7 106.3 8 247.0 1 773.9 2 127.4 2 030.9 1 918.5r 2 170.3 22.3
Total imports 62 288.9 70 927.8 81 013.5 18 823.8 18 573.0r 19 538.3r 20 247.0r 22 655.3 20.4
Trade balance -55 318.0 -62 768.1 -71 919.6 -16 813.6 -16 234.2r -17 285.4r -18 109.2r -20 290.8 -20.7 B. Gaming and tourism
Gross gaming revenue (excluding gratuities)(Million MOP) 269 058 305 235 361 866 81 115 85 600 86 419 89 447 100 401 23.8
y-on-y % change 41.9 13.4 18.6 9.9 14.8 15.7 19.5 23.8
Visitor arrivals('000) 28 002.3 28 082.3 29 324.8 7 217.6 7 076.4 7 065.8 7 768.6 7 414.0 2.7
Average length of stay (days) 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 -c
Per capita spending of visitors (MOP) 1 619 1 864 2 030 2 019 2 046 1 973 1 905 2 201 9.0
Hotel occupancy rate (%) 84.1 83.6 83.1 85.1 79.7 80.0 85.8 86.8 1.7a
C. Construction and real estate
Expenditure on public works (Million MOP) 7 666.0 12 536.5 4 906.4 7 427.5 10.0 707.2 885.2 3 304.1 -55.5 Private sector construction
New buildings - no. of units 2 159 1 592 2 241 482 154 1 119 439 529 9.8
New buildings - gross floor area ('000 m²) 367 304 2 396 94 34 662 1 607 93 -1.1
Completion of Buildings - no. of units 1 387 2 558 1 316 59 273 578 82 383 549.2
Completion of Buildings - gross floor area ('000 m²) 1 163 1 568 562 8 399 87 6 71 737.8
No. of building units transacted 27 624 25 419 19 237 7 216 5 423 6 514 3 193 4 107 -43.1
Value of building units transacted (Million MOP) 76 255.1 100 905.5 96 048.4 31 220.2 25 688.1 33 999.7 13 835.2 22 525.3 -27.9 D. Transport (tonne)
Seaborne containerised cargo 182 959 207 280 194 638 53 351 44 026r 43 972r 50 763r 55 876 4.7
Containerised land cargo 35 093 30 681 28 827 6 664 4 409 6 549 10 454 7 415 11.3
Air cargo 39 524 27 794 26 421 7 647 5 984 6 517 6 348 7 571 -1.0
E. Consumption and Prices
Inflation rate (%) 5.8 6.1 5.5 5.6 5.4 5.1 5.6 5.9 ..
Composite Consumer Price Index (4/2008-3/2009=100) 110.3 117.0 123.5 119.0 120.9 122.7 124.3 126.0 5.9 Retail sales turnover (Million MOP) 43 158 53 517 66 043 14 579 15 874 15 876 16 045r 18 248 25.2 F. Labour force
Unemployment rate (%) 2.6 2.0 ~ 1.9 1.9 1.8 1.9 1.8 -0.1 a
Median monthly employment earnings ('000 MOP) 10.0 11.3 ~ 12.0 12.0 12.0 12.0 12.3 2.5
Non-resident workers in Macao (end-period) 94 028 110 552 137 838 110 552 114 716 121 194 130 822 137 838 24.7 G. Public accounts (Million MOP)
Total revenue 122 972.3 144 994.5 155 512.1 35 605.8 34 520.9 39 335.7 39 448.3 42 207.1 18.5
Tax revenue from gaming 99 656.4 113 377.7 134 382.5 28 883.0 31 216.8 33 688.0 33 406.3 36 071.3 24.9
Total expenditure 45 593.3 54 012.6 59 253.3 24 378.1 6 367.1 10 705.8r 18 621.0r 23 559.4 -3.4
Balance 77 379.0 90 981.9 96 258.8 11 227.6 28 153.8 28 629.9r 20 827.3r 18 647.8 ..
H. Money and finance (end-period, Million MOP)
Narrow money supply (M1) 36 243.3 47 621.8 58 906.5 47 621.8 51 207.8 51 950.3 54 246.5 58 906.5 23.7
Broad money supply (M2) 297 963.9 374 931.0 441 362.4 374 931.0 391 112.8 396 394.2 426 604.4 441 362.4 17.7
Resident deposits 291 595.1 367 261.7 432 403.1 367 261.7 382 956.0 388 064.6 417 942.5 432 403.1 17.7
Domestic credit to the private sector 167 855.8 198 701.9 257 542.5 198 701.9 211 007.8 226 647.6 243 557.7 257 542.5 29.6
Net foreign assets 425 292.6 482 694.1 559 920.9 482 694.1 450 722.2 475 511.3 519 381.0 559 920.9 16.0
Foreign exchange reserves b 272 369.4 132 536.2 128 953.6 132 536.2 129 917.6 127 016.1 130 281.4 128 953.6 -2.7 I. Others
New incorporations 3 405 3 612 4 481 790 988 1 146 1 147 1 200 51.9
Companies in dissolution 511 501 515 119 129 144 121 121 1.7
Consumption of electricity (Million kWh) 3 856.5 4 204.8 4 291.3 985.4 873.1 1 152.3 1 294.8 971.0 -1.5 a Percentage points.
b According to the Fiscal Reserve Act that came into effect on 1 January 2012, the fiscal reserves and foreign exchange reserves are managed under separate accounts.
The official transfer of relevant assets was made in February 2012 c day.
2011 2012
2013 Q4 year-on-year
% change 2013