GROSS DOMESTIC PRODUCT

(1)

Principal indicators

%

Gross Domestic Product -4.1 -4.4

Exports of gaming services -13.5 -14.4

Exports of other tourism services 7.4 8.9

Major expenditure components of GDP

%

Private consumption expenditure 0.6 0.4

2.5 1.3

Gross fixed capital formation -2.2 -8.7

Private -4.9 -10.3

Government 3.1 -5.4

Changes in inventories 22.3 23.3

Exports of goods and services 1.5 2.0

Exports of goods 8.6 7.7

Exports of services -1.4 -0.3

Imports of goods and services 8.3 6.4

Imports of goods 8.9 7.3

Imports of services 5.6 2.3

www.dsec.gov.mo 2022.03

Government final consumption expenditure

Real growth Nominal growth

Investment

Nominal growth Real growth

Alameda Dr. Carlos d' Assumpção No. 411-417, Dynasty Plaza, 17^th 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.

-1.9 -8.4

-1.9 2.0 -100

0 100 200 300 400 500 600

Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4

%

Year-on-year growth of domestic demand and external demand in real terms

Domestic demand External demand -80

-60 -40 -20 0 20 40 60 80

Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4

% Economic growth and implicit deflator of GDP

Economic growth Implicit deflator of GDP

2020 2021 2020 2021

GROSS DOMESTIC PRODUCT

4

^TH

QUARTER 2021

統計暨普查局

Government of Macao Special Administrative Region Statistics and Census Service

•

Gross Domestic Product (GDP) decreased by 4.4% year-on-year in real terms in the fourth quarter of 2021, following a rise in the previous quarter.

Exports of services dropped by 0.3% year-on-year, of which exports of gaming services went down by 14.4% while exports of other tourism services increased by 8.9%. Meanwhile, exports of goods increased by 7.7%.

Imports of goods rose by 7.3% and imports of services went up by 2.3%.

Domestic demand decreased by 1.9% year-on-year. The growth in private consumption and government final consumption expenditure partially offset the decline in gross fixed capital formation.

The implicit deflator of GDP, which measures the overall changes in prices, rose by 0.3% year-on-year.

GDP increased by 18.0% year-on-year in real terms in 2021.

Private consumption grew by 0.4% year-on-year; household final consumption expenditure in the domestic market rose by 2.4% while that abroad dropped by 10.1%.

Government final consumption expenditure went up by 1.3% year-on- year, with net purchases of goods and services rising by 0.6% and compensation of employees increasing by 2.0%.

Gross fixed capital formation decreased by 8.7% year-on-year, of which construction investment fell by 13.7% while equipment investment went up by 8.2%. Public construction investment edged down by 0.5% and equipment investment declined by 19.1%. As regards private investment, construction investment dropped by 19.9% owing to reduced investment in casinos; on the other hand, equipment investment showed an uplift of 25.1%.

Merchandise trade continued to improve, with imports and exports of goods rising by 7.3% and 7.7% year-on-year respectively.

Despite a rise (+3.9%) in the number of visitor arrivals in the fourth quarter, exports of services dropped by 0.3% year-on-year, with exports of gaming services falling by 14.4% while exports of other tourism services rising by 8.9%. Meanwhile, imports of services increased by 2.3%.

(2)

Year-on-year quarterly GDP growth

Year-on-year cumulative GDP growth

For additional information:

http://www.dsec.gov.mo/e/gdp_quarterly.aspx Q1

70.9 -66.3

23.7 27.1

-55.7 -57.7 -54.1

Q2 Q3 Q4

-46.4

2｜Gross Domestic Product 4^th Quarter / 2021

18.0 28.6

-1.2 26.3

-56.2 -58.0 -54.0

Q4 Q2

17.1 -4.0

69.8

33.8

35.1 -4.1

Q4 -45.5

Q1 Q2 Q3

-45.5

-4.4 Q4 Q2

%

Q1 Q3 Q1 Q3

2020 2021

% -61.8

-42.6 -1.2

-4.0 -61.6

-66.2 -44.0

-46.4

-1.7 -2.8

-80 -60 -40 -20 0 20 40 60 80

Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4

%

Contribution of net demand to economic growth

Domestic demand Net external demand -0.3

-4.1 -0.2

1.8 0.1 -2.2

0.3 0.2

-5 0 5

Imports of services Imports of goods Exports of services Exports of goods Changes in inventories Gross fixed capital formation Government final consumption expenditure Private consumption expenditure

Percentage point Contribution of major expenditure components to

economic growth

2020 2021