Government of Macao Special Administrative Region Statistics and Census Service
Summary of social and economic development of Macao
DECEMBER / 2007 No. 12
OVERALL SOCIAL AND ECONOMIC SITUATION
Owing to the Christmas holidays, the number of visitor arrivals in December 2007 rose significantly and gross gaming receipts maintained its strong growth. In terms of external trade, exports and imports of goods increased constantly year-on-year, narrowing the trade deficit from November 2007. In the labour market, the employed population continued to expand and the unemployment rate was held stable at 2.9%. On the other hand, the number of property transactions fell in December compared with the previous month and the same month of 2006.
Meanwhile, the Composite Consumer Price Index (Composite CPI) recorded increases over the two periods.
GAMING AND TOURISM
Gross gaming receipts in December 2007 jumped by 34.0% to MOP 8.21 billion. In annual terms, gross gaming receipts surged by 45.8% to MOP 83.85 billion.
The total number of visitor arrivals grew b y 2 1 . 1 % to 2,618,823 in December 2007. Visitors from Mainland China; Taiwan, China; and Hong Kong registered increases of 26.8%, 4.1% and 2.7% respectively. In 2007, total number of visitor arrivals reached 27,003,370, up by 22.8%. Visitors from Mainland China;
Hong Kong; and Taiwan, China increased b y 24.1%, 17.8% and 0.5%
respectively.
CONSTRUCTION AND REAL ESTATE
At the end of November 2007, the cumulative number of building units started was 4,385 and the respective gross floor area totalled 2,198,414 m2, up by 13.9% and 123.8% respectively. The cumulative number of building units completed went down by 32.1% to 2,048, while the gross floor area increased by 34.8% to 1,679,623 m2. Regarding the property market, 2,272 building units were transacted in December 2007, down by 209 units (-8.4%) over the preceding month or decreased by 687 units (-23.2%) year-on-year. In 2007, the total number of units transacted went up by 22.2% to 32,250.
E X T E R N A L T R A D E
In December 2007, the value of total exports rose by 14.6% to MOP 1.83 billion and the value of total imports grew by 11.5% to MOP 3.77 billion, narrowing the trade deficit to MOP 1.95 billion. In 2007, total value of exports fell slightly by 0.2% to MOP 20.43 billion, due to an 8.6% decrease in the exports of Textile & garment that accounted for 65.6% of the total value of exports. Total value of imports grew by 18.0% to MOP 43.11 billion, of which the value of imports of Capital goods, Consumer goods and Fuel & lubricants rose by 37.3%, 26.4% and 22.8% respectively, while that of Raw materials & semi-manufactures dropped by 4.2%. Trade deficit for the whole year of 2007 reached MOP 22.68 billion
CONSUMER PRICE INDEX
The Composite CPI for December 2007 was 118.49, a year-on-year increase of 7.12% or up by 0.98% over the previous month. The indices of Recreation &
culture; Communication; and Transport recorded notable increases of 3.28%, Printed in February 2008
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2.02% and 1.52% respectively, on account of higher charges for outbound package tours during Christmas holidays, reduction in discount offered for IDD calls and rising prices of gasoline. In spite of lower prices of fresh vegetables, the price index of Food & non-alcoholic beverages went up by 1.01%, as a result of dearer prices of fresh pork and beef, as well as increasing charges for meals bought away from home. On the other hand, the index of Clothing & footwear recorded a 0.10%
decrease due to the commencement of discount sale of men and women’s shoes.
The average Composite CPI for 2007 was 114.46, implying an annual inflation rate of 5.57%.
EMPLOYMENT
The employed population expanded by 13.0% to 313,300 for October to December 2007. The unemployment rate stood at 2.9%, same as that in the preceding period (September to November 2007), but down by 0.6 percentage point year-on-year. At the end of December 2007, the number of non-resident workers totalled 85,207, an increase of 1,172 over the end of November or up by 20,534 (+31.8%) from a year earlier.
MONEY
At the end of November 2007, narrow money supply (M1) and broad money supply (M2) amounted to MOP 19.36 billion and MOP 182.42 billion respectively.
Domestic loans and advances to the private sector increased by 36.3% to MOP 65.77 billion. Foreign exchange reserve rose by 46.3% to MOP 103.46 billion.
* Unless otherwise specified, growth rates mentioned in this analysis refer to year-on-year growth.
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SUMMARY OF SOCIAL AND ECONOMIC DEVELOPMENT OF MACAO DECEMBER / 2007 No. 12
I - GROSS DOMESTIC PRODUCT
Current prices 106 MOP Q3/2007 38 297.42 39.0 110 013.69 37.3
Real growth rate % Q3/2007 30.9 .. 29.5 ..
II - GAMING AND TOURISM
Gross gaming receipts 106 MOP Dec/2007 8 207.91 34.0 83 846.81 45.8
Visitor arrivals no. Dec/2007 2 618 823 21.1 27 003 370 22.8
Mainland China no. Dec/2007 1 448 243 26.8 14 873 490 24.1
Hong Kong no. Dec/2007 725 543 2.7 8 176 964 17.8
Taiwan, China no. Dec/2007 123 032 4.1 1 444 342 0.5
III - CONSTRUCTION AND REAL ESTATE
Gross floor area of buildings started m2 Nov/2007 8 060 -83.2 2 198 414 123.8
Units of buildings started no. Nov/2007 14 -95.1 4 385 13.9
Gross floor area of buildings completed m2 Nov/2007 1 159 -98.3 1 679 623 34.8
Units of buildings completed no. Nov/2007 1 -99.0 2 048 -32.1
Building units transacted no. Dec/2007 2 272 -23.2 32 250 22.2
IV - EXTERNAL TRADE
Exports 106 MOP Dec/2007 1 825.78 14.6 20 430.57 -0.2
Imports 106 MOP Dec/2007 3 774.35 11.5 43 113.86 18.0
Trade balance 106 MOP Dec/2007 - 1 948.57 .. - 22 683.29 ..
V - COMPOSITE CONSUMER PRICE INDEX
(7/2004 to 6/2005 = 100) Dec/2007 118.49 7.1 .. 5.6a
VI - PUBLIC ACCOUNTS
Total revenue 106 MOP Nov/2007 5 048.48 59.9 37 400.88 49.4
Revenue from gaming tax 106 MOP Nov/2007 3 506.30 56.5 28 136.41 49.2
Total expenditure 106 MOP Nov/2007 1 767.54 10.3 13 252.46 3.9
Balance 106 MOP Nov/2007 3 280.94 .. 24 148.41 ..
VII - EMPLOYMENT
Employed population 10 3 Oct/2007-Dec/2007 313.3 13.0 310.9 13.3
Unemployment rate % Oct/2007-Dec/2007 2.9 -0.6b 2.9 -0.7b
Non-resident workers in Macao no. Dec/2007 85 207 31.8 84 035 35.4
VIII - MONEY
Narrow money supply (M1) 106 MOP Nov/2007 19 358.5 16.2 19 683.1 14.8
Broad money supply (M2) 106 MOP Nov/2007 182 415.1 11.4 187 427.2 15.4
Domestic loans and advances to the private sector 106 MOP Nov/2007 65 768.6 36.3 62 033.7r 31.1r
Foreign exchange reserves 106 MOP Nov/2007 103 455.4 46.3 99 688.3 45.3
a Annual rate of change ended December 2007.
b Percentage difference from the same period of last year - positive value represents an increase and negative value represents a decrease.
.. Not applicable r Rectified data
Principal statistical indicators of Macao Unit Latest period Latest period
Value Year-on-year % change Value
Statistics and Census Service
Cumulative
Year-on-year % change
3 Year-on-year % change
Value
Latest period
Value Year-on-year % change Previous period
DEZEMBER / 2007 No. 12 Statistics and Census Service
c
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SUMMARY OF SOCIAL AND ECONOMIC DEVELOPMENT OF MACAO
3 - EXTERNAL TRADE
0 500 1 000 1 500 2 000 2 500 3 000 3 500 4 000 4 500
Dec/2006 Jan/2007 Feb/2007 Mar/2007 Apr/2007 May/2007 Jun/2007 Jul/2007 Aug/2007 Sept/2007 Oct/2007 Nov/2007 Dec/2007 106 MOP
Exports Imports
5 - UNEMPLOYMENT RATE
2.9%
2 3 4 5
Oct/2006 - Dec/2006
Nov/2006 - Jan/2007
Dec/2006 - Feb/2007
Jan/2007 - Mar/2007
Feb/2007 - Apr/2007
Mar/2007 - May/2007
Apr/2007 - Jun/2007
May/2007 - Jul/2007
Jun/2007 - Aug/2007
Jul/2007 - Sept/2007
Aug/2007 - Oct/2007
Sept/2007 - Nov/2007
Oct/2007 - Dec/2007
%
2 - GAMING AND TOURISM
0 500 1 000 1 500 2 000 2 500 3 000
Dec/2006 Jan/2007 Feb/2007 Mar/2007 Apr/2007 May/2007 Jun/2007 Jul/2007 Aug/2007 Sept/2007 Oct/2007 Nov/2007 Dec/2007 103 visitor
0 2 000 4 000 6 000 8 000 10 000 106 MOP Visitor arrivals
Gross gaming receipts
1- GROSS DOMESTIC PRODUCT
0 5 10 15 20 25 30 35
Q4/2004 Q1/2005 Q2/2005 Q3/2005 Q4/2005 Q1/2006 Q2/2006 Q3/2006 Q4/2006 Q1/2007 Q2/2007 Q3/2007
%
0 5 000 10 000 15 000 20 000 25 000 30 000 35 000 40 000 45 000 106 MOP
Gross Domestic Product, at current prices Real growth rate
4 - COMPOSITE CONSUMER PRICE INDEX
5.6 %
0 1 2 3 4 5 6
Dec/2006 Jan/2007 Feb/2007 Mar/2007 Apr/2007 May/2007 Jun/2007 Jul/2007 Aug/2007 Sept/2007 Oct/2007 Nov/2007 Dec/2007
%
104 106 108 110 112 114 116 118 120 Index
Global index Annual Inflation rate
