Principal indicators
%
Industrial structure:
Secondary sector 4.2 4.3 0.2
Tertiary sector 95.8 95.7 -0.2
Gaming & Junket Activities 50.7 50.9 0.2
70.0 70.2 0.2
27.5 28.6 1.2
Changes in industrial structure
•
•
GDP at current producers' prices by the production approach
623,536 186,105 437,430 125,290 190,944 121,196 532 437,962
Year-on-year (%) -0.6 -1.3 -0.4 3.9 -1.1 -3.2 4.4 -0.4
51,783 32,943 18,840 11,440 7,118 282 - 18,840
Year-on-year (%) -1.4 -4.0 3.4 2.5 6.0 -18.9 .. 3.4
571,753 153,163 418,590 113,850 183,826 120,914 532 419,122
Year-on-year (%) -0.6 -0.7 -0.5 4.0 -1.4 -3.2 4.4 -0.5
www.dsec.gov.mo 2019.11
Difference (p. p.)
Ratio of Gross Value Added to Gross Output
Ratio of Compensation of Employees to Gross Value Added
Total
Gross Value Added Intermediate
Consumption Gross
Output
2019 2018
Taxes on GDP imports Tax on
Production Operating
Surplus Compensation
of Employees
Alameda Dr. Carlos d' Assumpção No. 411-417, Dynasty Plaza, 17th floor, Macao Tel: (853) 8399 5311 Fax: (853) 2830 7825 E-mail: info@dsec.gov.mo Official Statistics. Reproduction of these data is allowed provided the source is quoted.
Total (Million MOP, hereafter)
Tertiary sector Secondary sector
Government of Macao Special Administrative Region Statistics and Census Service 統 計 暨 普 查 局
2019
MACAO INDUSTRIAL STRUCTURE
– Gross Value Added of all economic activities of Macao decreased by 2.4% year -on-year in real terms in 2019, owing to a decline in Gross Value Added of Gaming & Junket Activities (-2.7%) and Real Estate Activities (-9.8%).
– The ratio of Gross Value Added to Gross Output of all economic activities rose by 0.2 percentage points year -on-year to 70.2%.
– Gross Value Added of the secondary sector increased by 5.5% in real terms, with its relative importance to total Gross Value Added rising to 4.3%.
– Gross Value Added of the tertiary sector decreased by 2.7% in real terms and its relative importance dropped to 95.7%, with t he share of non-gaming services falling by 0.3 percentage points year-on-year to 44.8%.
The relative importance of the secondary sector to total Gross Value Added increased by 0.2 percentage points to 4.3%, with the share of the Construction sector rising by 0.1 percentage point to 3.1%;
meanwhile, the shares of the Electricity, Gas & Water Supply sector (0.6%) and the Manufacturing sector (0.6%) remained flat compared to 2018.
The relative importance of the tertiary sector dropped by 0.2 percentage points year-on-year to 95.7%, with notable changes in the shares of Real Estate Activities (9.1%) and Renting & Business Activities (4.3%), down by 0.7 and 0.5 percentage points respectively; by contrast, the share of Gaming & Junket Activities (50.9%) saw a growth of 0.2 percentage points year-on-year.
Transport, storage &
communications Restaurants 2.7%
& similar activities
1.6%
Hotels &
similar activities
4.6%
Wholesale
& retail 5.6%
Gaming & junket activities
50.9%
Construction 3.1%
Industrial production 1.2%
Banking, insurance &
pension funding 6.8%
Real estate activities
9.1%
Renting &
business activities
4.3%
Public admin., education, health
& other services 10.1%
Structure of economic activities
Changes in primary distribution of income
•
Note: Due to rounding, total may not correspond to the sum of partial figures.
Changes by economic activity
439,030 437,430 6.0 -2.4 -
18,224 18,840 -8.4 5.5 4.2 4.3 0.2
2,404 2,492 3.7 -1.3 0.5 0.6 0#
2,697 2,807 -13.2 1.2 0.6 0.6 0#
13,124 13,541 -9.3 7.6 3.0 3.1 0.1
420,806 418,590 6.8 -2.7 95.8 95.7 -0.2
25,499 24,600 4.7 -0.7 5.8 5.6 -0.2
19,305 20,062 5.7 5.3 4.4 4.6 0.2
6,861 6,934 5.6 -0.9 1.6 1.6 0#
11,280 11,762 2.2 4.6 2.6 2.7 0.1
23,275 24,019 -2.0 -0.4 5.3 5.5 0.2
5,495 5,761 25.6 1.8 1.3 1.3 0.1
43,214 39,800 -4.6 -9.8 9.8 9.1 -0.7
21,359 19,001 8.6 -13.6 4.9 4.3 -0.5
17,957 18,914 2.8 1.7 4.1 4.3 0.2
8,019 8,482 9.6 -3.3 1.8 1.9 0#
6,039 6,518 2.1 6.6 1.4 1.5 0#
222,507 222,460 10.8 -2.7 50.7 50.9 0.2
9,994 10,277 1.7 -1.6 2.3 2.3 0#
Note: Due to rounding, total may not correspond to the sum of partial figures.
Electricity, gas & water supply Manufacturing
Restaurants & similar activities Hotels & similar activities
Real estate activities Insurance & pension funding Banking
Wholesale & retail Construction
Gaming & junket activities
Transport, storage & communications
Change in relative importance
(p. p.) Relative importance (%)
2018 2019 2018 2019 2018 2019
Gross Value Added at current prices
(Million MOP)
Real growth rate (%)
100.0 100.0
Health & social work Education Tertiary sector Secondary sector Total
Other community, social & personal services; households with employed persons
Public administration Renting & business activities
Compensation of employees
28.6%
Operating surplus 43.6%
Taxes on production and
imports 27.8%
Structure of GDP
Taxes on Production & Imports, Operating Surplus andCompensation of Employees amounted to MOP121.7 billion, MOP190.9 billion and MOP125.3 billion respectively in 2019, accounting for 27.8%, 43.6% and 28.6% of GDP. Compensation of Employees increased by 3.9% year-on-year, and its relative importance to GDP went up by 1.2 percentage points. Meanwhile, the shares of Operating Surplus and Taxes on Production & Imports dropped by 0.3 and 0.8 percentage points respectively. (For the compilation methodology of primary distribution of income, please refer to point 2 of the Explanatory Notes).
Changes by economic activity
•
Gross Value Added of tertiary sector
Million MOP
19,958 18,932 22,763 25,499 24,600
19,771 20,840 23,578 26,166 26,995
9,733 10,199 10,516 11,280 11,762
22,216 24,419 25,787 28,771 29,780
51,775 56,797 61,711 64,573 58,801
14,935 15,807 17,064 17,957 18,914
6,408 6,963 7,483 8,019 8,482
4,698 5,196 5,622 6,039 6,518
171,107 166,156 194,950 222,507 222,460
9,329 9,171 9,176 9,994 10,277
2019 Wholesale & retail trade
Other community, social & personal services; households with employed persons Gaming & junket activities
Health & social work Education Public administration
Real estate activities, renting & business activities Banking, insurance & pension funding
Transport, storage & communications Hotels & restaurants
2018 2017
2016 2015
•
4.2 4.3
11.8 11.8
2.6 2.7
21.3 20.3
50.7 50.9
9.6 10.1
0 10 20 30 40 50 60 70 80 90 100
2015 2016 2017 2018 2019
%
Evolution of relative importance
Public admin., education, health & social work, and other services Gaming & junket activities
Banking, insurance & pension funding, real estate, renting & business act.
Transport, storage & communications
Wholesale & retail trade, repair, hotels & restaurants and similar act.
Mining & quarrying, manufacturing, electricity, gas & water supply, construction -8.4
5.5 6.8
-2.7
-30 -20 -10 0 10 20 30 40
0 50,000 100,000 150,000 200,000 250,000 300,000 350,000 400,000 450,000
2015 2016 2017 2018 2019
% Million MOP
Gross Value Added and year-on-year change in real terms
Secondary sector Tertiary sector
Secondary sector Tertiary sector
Gross Value Added of the secondary sector went up by 5.5% year- on-year in real terms. Gross Value Added of the Construction sector grew by 7.6% as intermediate consumption showed a larger decline than gross output. Gross Value Added of the Electricity, Gas &
Water Supply sector rose by 1.2% attributable to an increase in local electricity generation which drove up the consumption of natural gas used for generating electricity.
Gross Value Added of the tertiary sector slid by 2.7% year-on-year in real terms, dragged down by the decreases in Gross Value Added of Gaming & Junket Activities and Real Estate Activities. With a decline in VIP gaming business, Gross Value Added of Gaming &
Junket Activities dropped by 2.7% in real terms. Meanwhile, Gross Value Added of Real Estate Activities fell by 9.8% in real terms owing to a reduction in real estate developers’ margin.
Year-on-year change of Gross Value Added of tertiary sector in real terms, in chained (2018) dollars
%
-1.4 -0.6 23.4 4.7 -0.7
-11.1 22.3 5.4 5.7 3.7
4.0 6.4 3.0 2.2 4.6
13.0 17.9 5.5 2.5 0.1
-7.5 7.0 4.8 -0.5 -11.0
2.9 3.3 2.5 2.8 1.7
7.1 5.7 0.2 9.6 -3.3
5.6 6.4 2.5 2.1 6.6
-35.6 -5.3 16.0 10.8 -2.7
-6.0 -7.8 -3.8 1.7 -1.6
18,149 18,759 -8.3 5.4 5.8 5.9 0.1
2,404 2,492 3.7 -1.3 0.8 0.8 0#
2,621 2,726 -13.2 0.9 0.8 0.9 0#
13,124 13,541 -9.3 7.6 4.2 4.3 0.1
297,297 299,064 5.4 -1.4 94.2 94.1 -0.1
24,674 23,676 5.1 0.1 7.8 7.4 -0.4
18,445 19,182 5.5 5.3 5.8 6.0 0.2
6,861 6,934 5.6 -0.9 2.2 2.2 0#
11,103 11,472 2.2 4.6 3.5 3.6 0#
23,275 24,019 -2.0 -0.4 7.4 7.6 0.2
5,495 5,761 25.6 1.8 1.7 1.8 0.1
40,251 37,638 -4.8 -8.5 12.8 11.8 -0.9
21,359 19,001 8.6 -13.6 6.8 6.0 -0.8
17,957 18,914 2.8 1.7 5.7 6.0 0.3
8,019 8,482 9.6 -3.3 2.5 2.7 0#
6,039 6,518 2.1 6.6 1.9 2.1 0#
103,956 107,323 11.2 0.4 33.0 33.8 0.8
9,862 10,145 1.3 -1.5 3.1 3.2 0#
315,446 317,824 4.4 -1.0 100.0 100.0 -
124,094 119,584 10.0 -6.1 .. .. ..
439,540 437,408 6.0 -2.4 .. .. ..
Note: Due to rounding, total may not correspond to the sum of partial figures.
Gaming & junket activities Health & social work Education Public administration Renting & business activities Real estate activities Insurance & pension funding
Gross value added at basic prices
Production-based GDP
Other community, social & personal services; households with employed persons
Taxes on products
Real estate activities, renting & business activities Banking, insurance & pension funding
Changes by economic activity at basic prices
Tertiary sector Hotels & restaurants Wholesale & retail trade
Other community, social & personal services; households with employed persons Gaming & junket activities
Health & social work Education
Construction
Electricity, gas & water supply Manufacturing
Public administration
Transport, storage & communications
Banking
Transport, storage & communications Restaurants & similar activities Hotels & similar activities Wholesale & retail
Change in relative importance
(p. p.) 2019
2018
Relative importance (%)
2019 2018
Real growth rate (%)
2019 2018
Gross Value Added at current prices (Million MOP)
Secondary sector
2019 2018
2017 2016
2015
Explanatory Notes 1.
2.
Glossary
Gross value added at producers' prices: Equals gross value added at basic prices plus taxes on products (excluding import taxes).
Gross value added: Gross output minus intermediate consumption.
Taxes on production and imports: Taxes on products plus other taxes on production.
Symbols and abbreviations:
- Absolute value equals zero p.p. Percentage point .. Not applicable
0
#Magnitude less than half of the unit employed
For additional information:
http://www.dsec.gov.mo/e/pibp.aspx