Government of Macao Special Administrative Region Statistics and Census Service
Summary of social and economic development of Macao
DECEMBER / 2006 No. 12
OVERALL SOCIAL AND ECONOMIC SITUATION
In December 2006, the number of visitor arrivals marked a new monthly record of over two million and gross gaming receipts surged. In terms of external trade, imports of goods continued to rise and exports of goods fell sharply, bringing about a slight drop in trade deficit over the previous month. In regard to employment, under the rapid development of the gaming and tourism sector, the employed population continued to grow and unemployment rate dropped to 3.5%.
On the other hand, the number of transactions in the property market in December registered a marginal decrease over the previous month, but rose over 50% when compared with the same month of last year. The Composite Consumer Price Index (CPI) in December recorded increases over the previous month and year-on-year.
As regards overall social and economic situation in 2006, apart from the decrease in the number of property transactions, the slight increase in the exports of goods and the relatively high rise in the Consumer Price Index, other areas showed outstanding performances, particularly in gross gaming receipts, visitor arrivals, investment in construction, public revenue and employed population where high increases were recorded; moreover, unemployment rate declined sharply.
GAMING AND TOURISM
Gross gaming receipts surged by 55.4% to MOP 5.95 billion in December 2006. In annual terms, total gross gaming receipts reached MOP 55.88 billion, up 22.0%.
The total number of visitor arrivals in December 2006 climbed up 29.7% to 2,162,917. Visitors from Hong Kong and Mainland China registered increases of 36.8% and 23.5% respectively, while visitors from Taiwan, China rose 15.3%. In 2006, total number of visitor arrivals reached 21,998,122, up 17.6%. Visitors from Hong Kong and Mainland China increased 23.6% and 14.6% respectively, but visitors from Taiwan, China decreased slightly by 3.0%.
CONSTRUCTION AND REAL ESTATE
At the end of November 2006, the cumulative number of building units started was 3,850 and the respective gross floor area totalled 982,346 m2, down 20.6% and 53.5% respectively. Meanwhile, the cumulative number of building units completed was 3,016 with their gross floor area at 1,245,954 m2, which increased by 2.3 times and 4.3 times respectively. Regarding the property market, 2,959 units were transacted in December 2006, 2,134 units less than the preceding month but up 54.7% year-on-year. In 2006, the total number of units transacted went down 21.5% to 26,400.
E X T E R N A L T R A D E
The value of total exports in December 2006 amounted to MOP 1.59 billion, down 25.7%, but the value of total imports went up 10.8% to MOP 3.39 billion, resulting in a trade deficit of MOP 1.79 billion. In 2006, the value of Non-textile
& garment exports rose 29.2%, which surpassed the 4.4% decrease in the value of Textile & garment exports that accounted for 71.6% of the total exports value.
Consequently, the annual export value went up 3.2% to MOP 20.46 billion.
Moreover, the annual import value escalated 16.6% to MOP 36.53 billion, mainly due to increases in Fuel & lubricants (+31.5%), Consumer goods (+18.5%), Raw materials & semi-manufactures (+13.9%) and Capital goods (+9.4%).
Trade deficit for the whole year reached MOP 16.07 billion.
1
Printed in February 2007
CONSUMER PRICE INDEX
The Composite CPI for December 2006 was 110.61, a year-on-year increase of 4.59%, or up by 0.61% over the previous month. The indices of Clothing &
footwear, Recreation & Culture, and Housing & fuels recorded notable increases of 1.57%, 1.12% and 0.92% respectively, which were attributable to the rising prices of men’s and women’s clothing and women’s footwear, higher charges for outbound package tours during Christmas holiday, as well as higher rentals for housing. Moreover, dearer prices of air tickets, rising charges for meals bought away from home and medical services raised the indices of Transport, Health, and Food & non-alcoholic beverages by 0.75%, 0.63% and 0.59% respectively. On the other hand, the index of Communication fell slightly by 0.02%, on account of lower prices of mobile phones. In 2006, the annual average Composite CPI was 108.42, implying an annual inflation rate of 5.15%.
EMPLOYMENT
The employed population was 276 thousand for the period from October to December 2006, up 11.0%. The unemployment rate was 3.5%, down by 0.1 percentage point over the previous period (September to November 2006), or down 0.5 percentage point year-on-year. At the end of December 2006, the number of non-resident workers was 64,673, which corresponds to an increase of 2,628 over the previous month, or an increment of 25,262 (+64.1%) when compared with the figure at the end of December 2005.
MONEY
At the end of November 2006, narrow money supply (M1) and broad money supply (M2) amounted to MOP 16.65 billion and MOP 163.73 billion respectively.
Besides, domestic loans and advances to the private sector increased 14.7% to MOP 48.24 billion. Foreign exchange reserves rose 36.0% to MOP 70.73 billion.
* Unless otherwise specified, growth rates mentioned in this analysis are comparisons with the same period of the previous year.
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SUMMARY OF SOCIAL AND ECONOMIC DEVELOPMENT OF MACAO DECEMBER / 2006 No. 12
I - GROSS DOMESTIC PRODUCT
Current prices 106 MOP Q3/2006 27 453.68 17.1 79 437.80 21.2
Real growth rate % Q3/2006 11.4 .. 15.4 ..
II - GAMING AND TOURISM
Gross gaming receipts 106 MOP Dec/2006 5 951.06 55.4 55 884.08 22.0
Visitor arrivals no. Dec/2006 2 162 917 29.7 21 998 122 17.6
Mainland China no. Dec/2006 1 142 575 23.5 11 985 617 14.6
Hong Kong no. Dec/2006 706 309 36.8 6 940 656 23.6
Taiwan, China no. Dec/2006 118 234 15.3 1 437 824 -3.0
III - CONSTRUCTION AND REAL ESTATE
Gross floor area of buildings started m2 Nov/2006 47 876 -66.1 982 346 -53.5
Units of buildings started no. Nov/2006 285 -54.6 3 850 -20.6
Gross floor area of buildings completed m2 Nov/2006 70 236 64.3 1 245 954 432.7
Units of buildings completed no. Nov/2006 100 669.2 3 016 229.6
Building units transacted no. Dec/2006 2 959 54.7 26 400 -21.5
IV - EXTERNAL TRADE
Exports 106 MOP Dec/2006 1 593.52 -25.7 20 461.27 3.2
Imports 106 MOP Dec/2006 3 386.05 10.8 36 527.30 16.6
Trade balance 106 MOP Dec/2006 - 1 792.53 .. - 16 066.04 ..
V - CONSUMER PRICE INDEX
(7/2004 to 6/2005 = 100) Dec/2006 110.61 4.6 .. 5.2a
VI - PUBLIC ACCOUNTS
Revenue excluding Autonomous Agencies 106 MOP Nov/2006 3 137.43 5.2 24 855.95 18.4
Revenue from gaming tax 106 MOP Nov/2006 2 239.79 44.4 18 858.18 18.6
Expenditure excluding Autonomous Agencies 106 MOP Nov/2006 1 590.45 16.3 12 598.33 11.4
Balance 106 MOP Nov/2006 1 546.99 .. 12 257.62 ..
VII - EMPLOYMENT
Employed population 10 3 Oct/2006 - Dec/2006 276.0 11.0 275.0 12.7
Unemployment rate % Oct/2006 - Dec/2006 3.5 -0.5b 3.6 -0.4b
Non-resident workers in Macao no. Dec/2006 64 673 64.1 62 045 66.9
VIII - MONEY
Narrow money supply (M1) 106 MOP Nov/2006 16 654.2 32.8 17 141.4 26.3
Broad money supply (M2) 106 MOP Nov/2006 163 730.7 23.1 162 451.2 22.5
Domestic loans and advances to the private sector 106 MOP Nov/2006 48 238.3 14.7 47 321.0 14.4
Foreign exchange reserves 106 MOP Nov/2006 70 727.0 36.0 68 620.6 36.4
a Annual rate of change ended December 2006.
b Percentage difference from the same period of last year - positive value corresponds with increase and negative value corresponds with decrease.
.. Not applicable
3 Year-on-year % change
Value
Latest period
Value Year-on-year % change Previous period
Value
Statistics and Census Service
Cumulative
Year-on-year % change Principal statistical indicators of Macao Unit Latest period Latest period
Value Year-on-year % change
DECEMBER / 2006 No. 12 Statistics and Census Service
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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
Dec/2005 Jan/2006 Feb/2006 Mar/2006 Apr/2006 May/2006 Jun/2006 Jul/2006 Aug/2006 Sept/2006 Oct/2006 Nov/2006 Dec/2006 106 MOP
Exports Imports
5 - UNEMPLOYMENT RATE
3.5%
3 4 5
Oct/2005 - Dec/2005
Nov/2005 - Jan/2006
Dec/2005 - Feb/2006
Jan/2006 - Mar/2006
Feb/2006 - Apr/2006
Mar/2006 - May/2006
Apr/2006 - Jun/200
May/2006 - Jul/2006
Jun/2006 - Aug/2006
Jul/2006 - Sept/2006
Aug/2006 - Oct/2006
Sept/2006 - Nov/2006
Oct/2006 - Dec/2006
%
2 - GAMING AND TOURISM
0 500 1 000 1 500 2 000 2 500
Dec/2005 Jan/2006 Feb/2006 Mar/2006 Apr/2006 May/2006 Jun/2006 Jul/2006 Aug/2006 Sept/2006 Oct/2006 Nov/2006 Dec/2006 103 visitor
0 1 000 2 000 3 000 4 000 5 000 6 000 7 000 106 MOP
Visitor arrivals Gross gaming receipts
1- GROSS DOMESTIC PRODUCT
0 10 20 30 40 50 60
Q4/2003 Q1/2004 Q2/2004 Q3/2004 Q4/2004 Q1/2005 Q2/2005 Q3/2005 Q4/2005 Q1/2006 Q2/2006 Q3/2006
%
0 5 000 10 000 15 000 20 000 25 000 30 000 106 MOP Gross Domestic Product, at current prices
Real growth rate
4 - CONSUMER PRICE INDEX
5.2 %
0 1 2 3 4 5 6
Dec/2005 Jan/2006 Feb/2006 Mar/2006 Apr/2006 May/2006 Jun/2006 Jul/2006 Aug/2006 Sept/2006 Oct/2006 Nov/2006 Dec/2006
%
102 104 106 108 110 112 Index Global index
Annual Inflation rate
