Principal indicators
%
Gross Domestic Product 34.4 32.9
Exports of gaming services 304.8 302.6
Exports of other tourism services 289.7 303.3
Major expenditure components of GDP
%
Private consumption expenditure 4.6 3.0
-2.6 -3.8
Gross fixed capital formation 2.8 -4.1
Private 5.2 -1.2
Government -5.5 -14.6
Changes in inventories 33.5 34.4
Exports of goods and services 118.1 116.7
Exports of goods 53.8 51.4
Exports of services 183.5 181.3
Imports of goods and services 41.0 38.6
Imports of goods 46.0 43.7
Imports of services 18.5 16.0
www.dsec.gov.mo 2021.11
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
3.4 -3.7
Real growth
-0.7 116.7
-100 0 100 200 300 400 500 600
Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3
%
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
Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3
% Economic growth and implicit deflator of GDP
Economic growth Implicit deflator of GDP
2019 2020 2021 2019 2020 2021
GROSS DOMESTIC PRODUCT
3
RDQUARTER 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) increased by 32.9% year-on-year in real terms in the third quarter of 2021. The economy of Macao has showed positive growth for two consecutive quarters.
Exports of services surged by 181.3% year-on-year in the third quarter, driven by a rebound in number of visitor arrivals; exports of gaming services and other tourism services soared by 302.6% and 303.3% respectively. Exports of goods recorded a year -on-year growth of 51.4%.
Imports of goods rose by 43.7% and imports of services went up by 16.0%.
Domestic demand edged down by 0.7% year-on-year, as the increase in private consumption partially offset the decline in government final consumption expenditure and gross fixed capital formation.
The implicit deflator of GDP, which measures the overall changes in prices, rose by 1.1% year -on-year.
Private consumption increased by 3.0% year-on-year, with household final consumption expenditure in the domestic market and abroad rising by 3.2% and 1.0% respectively.
Government final consumption expenditure dropped by 3.8% year-on- year as the SAR government’s expenditure on pandemic prevention and medical and health services in the third quarter of 2021 was less than that in the same quarter last year. Net purchases of goods and services went down by 6.9%, while compensation of employees increased by 0.4%.
Gross fixed capital formation decreased by 4.1% year-on-year, of which construction investment and equipment investment fell by 3.7% and 5.9% respectively. Public construction investment declined by 20.5%
owing to the completion of the Qingmao boundary control point passenger terminal building and the training works for Canal dos Patos;
on the other hand, equipment investment grew by 32.9%. As regards private investment, construction investment rose by 2.0% year-on-year attributable to increased investment in some large construction projects, whereas equipment investment reduced by 10.8%.
The pick-up in exports of services drove up imports of goods. Imports and exports of goods recorded respective growth of 43.7% and 51.4%
year-on-year.
Number of visitor arrivals to Macao leapt by 143.6% year-on-year in the third quarter. Exports of gaming services jumped by 302.6% and exports of other tourism services ballooned by 303.3%. Meanwhile, imports of services increased by 16.0%.
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 -0.2
Q4 Q1 Q2
-2.6
-1.6 -46.4
-4.3 22.9
-45.5 -55.7 -57.7
Q1 Q2 Q3
Q4
-2.5
2｜Gross Domestic Product 3rd Quarter / 2021
27.5 25.2
-54.0 -1.6
-46.4 -56.2 -58.0
26.3 -54.1
-4.3
68.8
68.0 34.4
Q3 Q1
%
Q4 Q2 Q3 Q4 Q2
2019
% -66.2
-61.6 -42.6
-44.0 -66.3
-45.5 -61.8
-4.7 32.9
Q3
2020 2021
2019 2020 2021
Q1
-0.8 33.8
-80 -60 -40 -20 0 20 40 60 80
Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3
%
Contribution of net demand to economic growth
Domestic demand Net external demand -2.3
-28.0 50.0
14.0 0.2 -1.4 -1.3
1.7
-30 -10 10 30 50
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
