H. OTHER ECONOMIC INDICATORS
III. CONCLUDING REMARKS
In 2010, the economy of Macao has sustained the growth momentum to expand by 17.2%, 31.7% and 27.4% in real terms in the first three quarters. The fourth quarter GDP expanded by 27.9% upon favourable increase in exports of services, rebound in investment and steady growth in private consumption expenditure. For the whole year of 2010, the economy of Macao expanded by 26.2% in real terms, higher than the 1.5% increase in 2009, which was attributable to soaring net exports of services, increasing private consumption expenditure supported by satisfactory job market, as well as slowdown in the decline in merchandise exports and investment.
Looking ahead to the first quarter of 2011, in terms of domestic demand, investment is expected to maintain positive growth upon resumption of the construction of several major tourism and gaming facilities, as well as commencement of many major public construction projects;
unemployment rate is anticipated to remain low on account of rising demand for human resources;
however, private consumption expenditure is expected to see marginal increase as consumer sentiment is likely to be deterred by rising commodity and fuel prices. As regards external demand, decline in merchandise exports is likely to keep stable; exports of tourism and gaming services are expected to see favourable growth as visitor arrivals in January and February increased by 3.3%
year-on-year when gross gaming revenue rose by 40.1%. In sum, the economy of Macao is projected to sustain steady expansion in the first quarter of 2011.
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
2009 2010 2010 2010 2010
Q4 Q1 Q2 Q3 Q4
USA
ΓGross Domestic Product - -2.6 2.8 0.2 2.4 3.0 3.2 2.7
ΓExports of goods 12.1 -18.0 21.0 -1.0 20.5 25.3 20.6r 18.2
ΓImports of goods 7.5 -25.9 22.6 -7.4 21.2 31.8 22.9r 15.7
ΓConsumer Price Index 3.8 -0.4 1.7 1.4 2.4 1.8 1.2 1.3
ΓUnemployment rate 5.8 9.3 9.6 9.5 10.4 9.5 9.5 9.1
Euro area a
ΓGross Domestic Product 0.4 -4.1 1.7 -2.0 0.8 2.0 1.9 2.0
ΓExports of goods 3.9 -18.1 20.1 -9.4r 12.9 22.3 22.8r 21.8
ΓImports of goods 8.2 -21.7r 21.6 -14.2r 9.1r 26.8r 25.8r 24.9
ΓConsumer Price Index 3.3 0.3 1.6 0.4 1.1 1.5 1.7 2.0
ΓUnemployment rate 7.6 9.4 10.0 9.8 10.4r 9.9 9.7 9.9
Germany
ΓGross Domestic Product 1.0 -4.7 3.6 -1.3 2.3r 4.3 3.9 4.0
ΓExports of goods 2.0 -18.4r 19.4 -8.3r 11.1r 24.4r 21.5r 20.7
ΓImports of goods 4.7 -17.5r 21.3 -13.2r 7.0r 27.8r 24.2r 26.7
ΓConsumer Price Index 2.6 0.3 1.1 0.4 0.8 1.1 1.2 1.5
ΓUnemployment rate 7.8 8.2 7.7 7.7 8.6 7.8 7.5 7.1
French
ΓGross Domestic Product 0.1 -2.5 1.5 -0.5 1.2r 1.6 1.7r 1.5
ΓExports of goods 2.6r -17.3 12.3 -10.3 7.5 12.6r 14.2r 14.7
ΓImports of goods 5.1r -17.7 12.8 -8.7r 6.2r 13.7r 18.8r 12.6
ΓConsumer Price Index 2.8 0.1 1.5 0.4 1.3 1.6 1.5 1.6
ΓUnemployment rate 7.8 9.5 9.8 10.2 10.2 9.4 9.6r 9.9
The United Kingdom
ΓGross Domestic Product 0.5 -4.9r 1.3 -2.8r -0.3 1.5r 2.5r 1.5
ΓExports of goods 14.1 -9.7 16.9 0.4r 12.1r 21.2r 17.4r 17.0
ΓImports of goods 11.1 -10.2 17.2 -0.8r 10.3r 18.9r 21.0r 18.5
ΓConsumer Price Index 3.6 2.1r 3.3 2.1 3.3 3.4 3.1 3.4
ΓUnemployment rate 5.7 7.7r 7.9 7.8 8.0 7.8 7.7 7.9
a The Euro area consists of 16 member states from 2009 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
2009 2010 2010 2010 2010
Q4 Q1 Q2 Q3 Q4
Mainland China
ΓGross Domestic Product 9.0 8.7 10.3 10.7 11.9 10.3 9.6 9.8
ΓExports of goods 17.3 -15.9 31.3 0.2 28.7 40.9 32.2 24.9
ΓImports of goods 18.5 -11.3 38.7 22.4 64.7 43.6 27.3r 29.6
ΓConsumer Price Index a 5.9 -0.7 3.3 -0.7 2.2 2.6 2.9 3.3
Hong Kong
ΓGross Domestic Product 2.3r -2.7r 6.8 2.5 8.1r 6.4r 6.7r 6.2
ΓExports of goods 5.1 -12.6 22.8 -2.0 26.0 24.3 27.8 14.4
ΓImports of goods 5.5 -11.0 25.0 3.4 34.3 29.9 24.1 15.1
ΓConsumer Price Index 4.3 0.5 2.4 1.3 1.9 2.6 2.3 2.8
ΓUnemployment rate 3.6 5.4 4.3 4.7 4.4 4.7 4.4 3.7
Taiwan, China
ΓGross Domestic Product 0.7 -1.9 10.8 9.2 13.6 12.9 10.7r 6.9
ΓExports of goods 3.6 -20.3 34.8 16.9 52.5 46.2 27.1r 20.9
ΓImports of goods 9.7 -27.5 44.1 18.1 78.3 53.7r 31.5r 27.6
ΓConsumer Price Index 3.5 -0.9 1.0 -1.3 1.3 1.1 0.4 1.1
ΓUnemployment rate 4.1 5.9 5.2 5.9 5.7 5.2 5.1 4.8
Japan
ΓGross Domestic Product -1.2 -6.3r 3.9 -1.5r 5.6r 3.1r 4.9r 2.2
ΓExports of goods -3.5 -33.1 24.4 -8.0 43.3 33.2 17.8 10.0
ΓImports of goods 8.0 -34.8 17.7 -20.9 18.9 27.9 14.5 11.2
ΓConsumer Price Index 1.4 -1.4 -0.7 -2.0 -1.2 -0.9 -0.8 0.1
ΓUnemployment rate 4.0 5.1 5.1 5.0 5.1 5.3 5.1 4.8
Republic of Korea
ΓGross Domestic Product 2.3 0.2 6.1 6.0 8.1 7.2 4.4r 4.8
ΓExports of goods 13.6 -13.9 28.6 11.7 35.8 33.1 23.6r 24.0
ΓImports of goods 22.0 -25.8 31.8 1.4 37.4 43.0r 24.6r 25.1
ΓConsumer Price Index 4.6 2.8 2.9 2.4 2.7 2.6 2.9 3.6
ΓUnemployment rate 3.2 3.6 2.9 3.3 4.7 3.5 3.5 3.3
Singapore
ΓGross Domestic Product 1.5r -0.8r 14.5 4.6r 16.4r 19.4r 10.5r 12.0
ΓExports of goods 5.8 -18.0 22.4 4.9 28.2 29.1 20.0r 14.5
ΓImports of goods 13.9 -21.0 18.8 -2.7 25.5 26.4 15.6r 9.7
ΓConsumer Price Index 6.6 0.6 2.8 -0.8 0.9 3.1 3.4 4.0
ΓUnemployment rate 2.2 3.0 2.2 2.1 2.1 2.8 1.8 2.0
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) (%)
2009 2010 2010 2010 2010
Q4 Q1 Q2 Q3 Q4
USA
ΓGross Domestic Product - -2.6 2.8 5.0 3.7 1.7 2.6r 2.8
ΓExports of goods 12.1 -18.0 21.0 7.8 5.8r 3.4 2.3 5.8
ΓImports of goods 7.5 -25.9 22.6 7.3 6.0 6.3 1.7r 0.8
ΓConsumer Price Index 3.8 -0.4 1.7 0.7r 0.3r -0.1r 0.4 0.7
ΓUnemployment ratea 5.8 9.3 9.6 10.0 9.7 9.6r 9.6 9.6
Japan
ΓGross Domestic Product -1.2 -6.3r 3.9 1.8r 1.5r 0.5r 0.8r -0.3
ΓExports of goods -3.5 -33.1 24.4 11.8r 11.2r -0.4r -4.0r 3.0
ΓImports of goods 8.0 -34.8 17.7 8.0r 11.9r 2.4r -8.0r 5.4
ΓConsumer Price Index 1.4 -1.4 -0.7 -0.3 0.2 -0.3r -0.3r 0.6
ΓUnemployment ratea 4.0 5.1 5.1 5.2 4.9 5.2 5.1 5.0
Hong Kong
ΓGross Domestic Product 2.3r -2.7r 6.8 2.2r 1.8r 1.7r 0.9r 1.5
ΓExports of goods 5.1 -12.6 22.8 9.7r 6.7r 3.6r 1.9r -4.1
ΓImports of goods 5.5 -11.0 25.0 6.1r 6.8r 2.2r 1.0r -2.7
ΓConsumer Price Index 4.3 0.5 2.4 2.2 0.9r 0.5 -1.3r 2.8
ΓUnemployment ratea 3.6 5.4 4.3 5.1 4.4 4.6 4.2 4.0
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
2009 2010 2010 2010 2010
Q4r Q1r Q2r Q3r Q4@
At current prices:
GDP (MOP billion) 161.7 165.5 217.3 48.0 46.3 51.6 54.8 64.6
GDP per capita (MOP thousand) 294.5 304.0 398.1 .. .. .. .. ..
Chain volume measures in chained (2008) dollars:
GDP (MOP billion) 161.7 164.2 207.1 47.2 44.9 49.6 52.2 60.3
% growth in real terms
GDP 2.8 1.5 26.2 18.3 17.2 31.7 27.4 27.9
Private consumption expenditure 5.8 2.3 6.4 5.0 3.9 7.6 8.6 5.5
In the domestic market 4.3 0.6 4.7 3.3 3.9 4.1 5.5 5.2
Abroad 7.9 10.1 16.3 14.2 5.8 26.2 28.3 8.8
Government final consumption expenditure 2.3 11.5 5.5 8.8 -7.9 7.2 6.9 12.5
Gross fixed capital formation -14.8 -32.3 -20.0 -33.5 -49.8 -37.4 -4.8 13.3
Private sector -14.2 -36.8 -26.1 -42.1 -50.3 -38.1 -16.1 11.3
Government -23.7 34.4 23.5 5.3 2.9 -27.5 71.8 18.3
Exports of goods -25.4 -52.0 -12.2 -42.0 -13.1 -7.2 -13.3 -15.3
Exports of services 15.1 4.1 48.0 39.4 47.7 65.6 41.4 41.4
Imports of goods -8.1 -24.1 10.7 -15.0 8.0 9.4 9.9 14.9
Imports of services 18.6 -12.6 44.4 21.2 48.9 51.5 36.9 42.6
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
2009r 2008r
2008 2009
2010
I. PRINCIPAL ECONOMIC INDICATORS OF THE WORLD AND MACAO
4. PRINCIPAL ECONOMIC INDICATORS OF MACAO
2010 2009 2010 2010 2010 2010
Q1 to Q4 Q4 Q1 Q2 Q3 Q4
A. External Merchandise trade (MOP million)
Total exports 20 430.6 16 025.4 7 672.5 6 960.0 1 900.6 1 822.2r 1 810.3r 1 653.6r 1 673.9 -11.9
Textiles and garments 13 394.0 9 145.2 2 469.9 1 627.3 412.0 381.2r 395.0r 467.1 384.0 -6.8
Other products 7 036.6 6 880.2 5 202.6 5 332.7 1 488.6 1 441.0 1 415.3 1 186.5r 1 289.9 -13.3
Total imports 43 113.9 43 034.2 36 902.0 44 118.4 10 260.7 9 830.5r 10 515.0r 11 415.7r 12 357.1 20.4
Trade balance -22 683.3 -27 008.8 -29 229.4 -37 158.4 -8 360.1 -8 008.4r -8 704.7r -9 762.1r -10 683.2 -27.8 B. Gaming and tourism
Gross gaming revenue (excluding gratuities)(MOP million) 83 847 109 826 120 383 189 588 36 476 41 248 45 219 47 723 55 398 51.9
y-on-y % change 45.8 31.0 9.6 57.5 49.8 57.1 76.5 49.0 51.9
No. of visitor arrivals b(thousand) 26 993.0 22 933.2 21 752.8 24 965.4 5 872.3 6 115.2 6 114.2 6 359.1 6 376.8 8.6
Average length of stay of visitors (days) 1.1 1.1 1.1 .. 1.1 1.0 0.9 0.9 0.9 -0.2
Visitor spending per capita (MOP) 1 637 1 729 1 616 .. 1 807 1 783 1 575 1 648 1 812 0.3
Hotel occupancy rate (%) 77.2 74.3 71.4 79.8 78.2 79.1 78.2 78.9 83.0 4.8a
C. Construction and real estate
Expenditure on public works (MOP million) 2 938.9 2 419.7 3 021.2 4 076.2 1 665.7 20.8 358.4 1 315.6 2 381.4 43.0 Private sector construction
ΓΓ Buildings started - no. of units 4 390 2 046 1 547 870 41 508 41 132 189 361.0
ΓΓ Buildings started - gross floor area (thousand m²) 2 200 533 229 184 9 125 6 22 31 238.9
ΓΓ Buildings completed - no. of units 2 051 1 177 3 251 4 527 1 018 149 1 869 466 2 043 100.7
ΓΓ Buildings completed - gross floor area (thousand m²) 1 926 584 1 406 1 272 414 65 609 241 356 -13.9
No. of building units transacted c 32 250 21 516 17 310 29 617 6 588 6 386 8 575 5 838 8 818 33.8
Value of building units transacted c(MOP million) 49 080.9 35 024.9 26 298.7 56 753.6 10 623.8 10 024.5 16 795.0 10 567.1 19 367.1 82.3 D. Transport
Γ Seaborne containerised cargo (tonne) 329 288 328 196 180 413 178 380 49 770 40 408 46 421r 46 655 44 895 -9.8
Γ Containerised land cargo (tonne) 75 835 104 312 51 694 45 718 9 450 9 850 11 458 13 393 11 017 16.6
Γ Air cargo (tonne) 180 935 100 767 52 464 52 166 16 692 13 330 14 570 10 868 13 397 -19.7
E. Prices and consumption
Inflation rate (%) 5.6 8.6 1.2 2.8 -0.2 1.5 2.7 3.1 3.9 ..
Composite Consumer Price Index (4/2008-3/2009=100) 92.3 100.2 101.4 104.2 101.6 102.8 104.0 104.6 105.6 3.9
Retail sales turnover (MOP million) 14 195 19 391 22 354r 29 501 6 546r 6 923 6 865 7 529r 8 184 25.0
F. Employment
Unemployment rate (%) 3.1 3.0 3.6 .. 3.1 2.9 2.8 2.9 2.7 -0.4a
Median monthly employment earnings (MOP thousand) 7.8 8.0 8.5 .. 9.0 9.0 8.5 9.0 9.0
Non-resident workers in Macao (end-period) 85 207 92 161 74 905 .. 74 905 72 843 72 142 74 525 75 813 1.2
G. Public accounts (MOP million)
Total revenue 53 710.5 62 259.3 69 870.9 79 635.8 16 970.4 16 399.2 19 118.6 20 302.8 23 815.2 40.3
Revenue from gaming sector 31 919.6 43 207.5 45 697.5 68 776.1 13 610.0 14 900.0 16 996.6 17 362.4 19 517.1 43.4
Total expenditure 23 346.0 30 443.4 35 459.9r 37 758.1 13 521.2 3 487.4 5 383.7 15 035.5 13 851.5 2.4
Balance 30 364.5 31 815.9 34 411.0r 41 877.8 3 449.2 12 911.8 13 734.9 5 267.3 9 963.7 ..
H. Money and finance (period-end values, MOP million)
Γ Narrow money supply (M1) 22 606.6 24 729.6 30 606.8 34 721.1 30 606.8 31 452.2 34 433.3 34 132.3 34 721.1 13.4
Γ Broad money supply (M2) 185 540.6 189 790.3 212 233.3 243 247.3 212 233.3 215 934.5 222 160.0 236 970.2 243 247.3 14.6
Γ Resident deposits 181 615.4 185 389.8 207 327.4 237 626.9 207 327.4 210 808.9 217 138.2 231 505.6 237 626.9 14.6
Γ Domestic credit to the private sector 72 053.9 91 801.6 101 125.2r 130 676.9 101 125.2r 105 336.4r 112 132.8r 119 789.9 130 676.9 29.2 Γ Net foreign assets 216 465.6 233 256.6 275 171.7r 333 803.1 275 171.7r 284 127.9r 296 525.1r 320 377.8 333 803.1 21.3 Foreign exchange reserves 106 290.5 127 160.6 146 578.7 190 186.8 146 578.7 156 225.2 163 707.6 169 670.1 190 186.8 29.8 I. Others
ΓNo. of new companies incorporated 3 405 2 738 2 529 2 991 674 694 778 782 737 9.3
ΓNo. of companies in dissolution 339 447 469 492 123 128 125 120 119 -3.3
ΓConsumption of electricity (million kWh) 2 984.3 3 311.7 3 463.3 3 655.5 820.0 742.6 954.7 1 120.3 838.0 2.2
a Percentage points.
b From 2008 onwards, visitor arrivals exclude non-resident workers, foreign students, etc.
c Including residential units that were exempt from the payment of Stamp Duty.
2007 2008
2010 Q4 year-on-year
% change 2009