Principal indicators
%
Gross Domestic Product 69.1 69.5
Exports of gaming services 1,084.8 1,089.7
Exports of other tourism services 1,352.9 1,328.3
Major expenditure components of GDP
%
Private consumption expenditure 12.2 11.5
0.7 0.4
Gross fixed capital formation -4.3 -10.1
Private -14.1 -18.7
Government 50.4 37.0
Changes in inventories 219.5 219.0
Exports of goods and services 577.9 572.2
Exports of goods 608.5 606.9
Exports of services 562.9 555.6
Imports of goods and services 148.3 144.5
Imports of goods 175.4 173.5
Imports of services 63.5 54.2
www.dsec.gov.mo 2021.08
Nominal growth
Investment
Nominal growth Real growth
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.
Government final consumption expenditure
-1.0 -6.8
Real growth
3.7 572.2
-100 0 100 200 300 400 500 600
Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2
%
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
Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2
%
Economic growth and implicit deflator of GDP
Economic growth Implicit deflator of GDP
2019 2020 2021 2019 2020 2021
GROSS DOMESTIC PRODUCT
2
NDQUARTER 2021
統 計 暨 普 查 局
Government of Macao Special Administrative Region Statistics and Census Service
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Gross Domestic Product (GDP) rebounded by 69.5% year-on-year in real terms in the second quarter of 2021. The economy of Macao resumed positive growth on account of a relatively low base of comparison in the same quarter last year when local economic activities were limited due to the entry restrictions fo r visitors amid the pandemic of novel coronavirus pneumonia. With the pandemic remaining under control, the pick -up in external demand in the second quarter also contributed to the growth.
Exports of services ballooned by 555.6% year-on-year, of which exports of gaming services and other tourism services rocketed by 1,089.7% and 1,328.3%
respectively. Exports of goods surged by 606.9% year-on-year.
Imports of goods swelled by 173.5% while imports of services rose by 54.2%.
Domestic demand maintained growth, rising by 3.7% year-on-year.
The implicit deflator of GDP, which measures the overall changes in prices, dropped by 0.3% year-on-year.
Local economic activities of residents have basically recovered, with household final consumption expenditure in the domestic market increasing by 8.8% year-on-year. Due to the relatively low base of comparison in the same quarter last year, household final consumption expenditure abroad went up by 87.0%. The overall private consumption rose by 11.5% year -on-year.
As the Macao SAR government allocated expenditure for pandemic prevention and implemented economic assistance measures such as the Electronic Consumption Benefits Plan, government final consumption expenditure grew steadily by 0.4% year-on-year, of which net purchases of goods and services went up by 0.4% and compensation of employees increased by 0.5%.
Gross fixed capital formation declined by 10.1% year -on-year, of which construction investment decreased by 16.7% whereas equipment investment rose by 25.0%. The Macao SAR government continued to promote infrastructure projects, with public construction investment and equipment investment expanding by 37.0% and 37.3% respectively year -on-year. As regards private investment, construction investment dropped by 27.7% year- on-year owing to smaller investment in large-scale hotel projects compared to the same quarter last year and fewer private residential projects; yet, equipment investment increased by 24.2%.
The pick-up in total demand drove up merchandise trade, with imports and exports of goods surging by 173.5% and 606.9% respectively year -on-year.
Number of visitor arrivals to Macao leapt by 4,302.6% year -on-year and 25.9% quarter-to-quarter in the second quarter of 2021. Exports of gaming services and other tourism services soared by 1,089.7% and 1,328.3%
respectively; besides, imports of services increased by 54.2% year -on-year.
Year-on-year quarterly GDP growth
Nominal growth Real growth
Year-on-year cumulative GDP growth
Nominal growth Real growth
For additional information:
http://www.dsec.gov.mo/e/gdp_quarterly.aspx 0.8
Q3 Q4 Q1
2019 2020 2021
2019 2020 2021
0.8
Q4
-45.9 -5.3
-56.3 -3.2
-1.7
2｜Gross Domestic Product 2
ndQuarter / 2021
25.7 -0.9
-59.9 -56.3
-2.6 -48.3 -58.0
23.7 -59.6
-47.0
-0.9
-3.2 69.1
Q2
-0.3 -47.4 -57.5
Q4 Q1 Q2
Q3
Q4
%
Q3 Q1 Q2 Q3 Q1
% -47.4
-67.9 -63.8
-64.0 -48.3
-3.3 -67.8
-1.3 69.5
Q2
4.9 64.6
-80 -60 -40 -20 0 20 40 60 80
Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2
%
Contribution of net demand to economic growth
Domestic demand Net external demand -8.1
-80.8
100.9 52.6 1.2 -3.6
0.2 7.3
-110-90 -70 -50 -30 -10 10 30 50 70 90 110 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
2019 2020 2021
