Government of Macao Special Administrative Region Statistics and Census Service
Summary of social and economic development of Macao
APRIL / 2006 No. 4
OVERALL SOCIAL AND ECONOMIC SITUATION In April 2006, the gaming and tourism sector remained satisfactory. Owing to the Easter holidays, the number of visitor arrivals registered a significant increase and gross gaming receipts achieved outstanding performances. In terms of external trade, exports and imports of goods surged. In regard to Public accounts, fiscal surplus increased further upon the surge in revenue. Moreover, under the rapid development of the gaming and tourism sector, the employed population continued to grow and unemployment rate remained at the level of 3.9%. On the other hand, regarding the property market in April 2006, the number of transactions dropped by 15.5% over the previous month and recorded a significant decrease compared with the same month of last year. Consumer Price Index in April recorded an increase over the previous month and year-on-year.
GROSS DOMESTIC PROCUCT In the first quarter of 2006, Macao’s economy increased 18.8% in real terms, upon outstanding performances in gaming, tourism and exports of goods and with impetus from the surge in investment. GDP at current prices reached MOP 25.14 billion.
GAMING AND TOURISM In April 2006, gross gaming receipts increased 23.0% to MOP 4.47 billion.
For the first four months of 2006, total gross gaming receipts rose 16.9% to MOP 17.06 billion.
The number of visitor arrivals in April 2006 grew 25.2% to 1,870,314.
Visitors from Mainland China and Hong Kong registered increases of 19.2% and
41.7% respectively, but visitors from Taiwan, China decreased 4.0%. For the first four months of 2006, total visitor arrivals reached 7,118,332, up 19.6%.
CONSTRUCTION AND REAL ESTATE
In the first quarter of 2006, number of units in buildings started and gross floor area were 1,372 and 286,464 m2, up 110.4% and 2.5 times respectively.
Moreover, the number of units and gross floor area in buildings completed were 354 and 180,633 m2, up 6.2 times and 118.8% respectively. Regarding the property market, 1,590 units were transacted in April 2006, 292 units less than the previous month and down 50.1% year-on-year. For the first four months of 2006, the cumulative number of units transacted was 6,393, down 44.6%, reflecting that the property market continued to slow-down.
E X T E R N A L T R A D E
In April 2006, total export value amounted to MOP 1.65 billion, up 45.0%;
and the value of imports reached MOP 3.13 billion, up 30.6%. As imports rose sharply, Macao’s trade deficit widened to MOP 1.48 billion. For the first four months of 2006, the cumulative export value amounted to MOP 6.42 billion, up 38.5%, as the value of Textile & garment exports, which accounted for 75.1% of the total exports, increased 44.4%. The cumulative import value reached MOP 10.83 billion, up 29.1%, mainly due to the increases in Fuel & lubricants (up 44.3%), Consumer goods (up 30.4%), Capital goods (up 25.8%) and Raw materials & semi-manufactures (up 25.4%). Trade deficit at the end of April was MOP 4.41 billion.
CONSUMER PRICE INDEX
The Composite CPI for April 2006 was 107.55, with year-on-year increase of 6.30%, or up by 0.87% over the previous month. The increase was mainly attributable to the rising prices in new arrivals of Summer clothing, upward adjustment of the electricity fuel clause and gasoline prices on account of surging international oil prices, higher charges for outbound package tours in the Easter Printed in June 2006
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holidays, and the increase in the rentals for housing. As a result, the indices of Clothing & footwear, Transport, Recreation & culture and Housing & fuels rose by 1.90%, 1.79%, 1.46% and 1.39% respectively. For the 12 months ended April 2006, the average Composite CPI rose by 5.22% over the previous period.
PUBLIC ACCOUNTS
In April 2006, total public revenue, excluding Autonomous Agencies, increased 29.5% to MOP 2.32 billion, among which gaming tax revenue accounted for 76.1% of the total and rose 16.6% to MOP 1.76 billion. On the other hand, total public expenditure, excluding Autonomous Agencies, reached MOP 0.77 billion, up 19.9%. At the end of April, the fiscal surplus amounted to MOP 4.58 billion.
EMPLOYMENT
The employed population was 257 thousand for the period from February to April 2006, up 11.6%. The unemployment rate was 3.9%, same as the previous period (January to March 2006), but down 0.2 percentage point year-on-year. At the end of April, the number of non-resident workers was 48,775, a slight increase of 899 over the previous month.
MONEY
At the end of March 2006, narrow money supply M1 and broad money supply M2 reached MOP 12.87 billion and MOP 144.81 billion respectively.
Besides, domestic loans and advances to the private sector increased 20.1% to MOP 44.01 billion. Foreign exchange reserves rose 26.7% to MOP 56.43 billion.
* Growth rates mentioned in this analysis are comparisons with the same period of the previous year, unless stated otherwise.
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SUMMARY OF SOCIAL AND ECONOMIC DEVELOPMENT OF MACAO APRIL / 2006 No. 4
I - GROSS DOMESTIC PRODUCT
Current prices 106 MOP Q1/2006 25 135.89 24.1 25 135.89 24.1
Real growth rate % Q1/2006 18.8 .. 18.8 ..
II - GAMING AND TOURISM
Gross gaming receipts 106 MOP Apr/2006 4 474.80 23.0 17 063.91 16.9
Visitor arrivals no. Apr/2006 1 870 314 25.2 7 118 332 19.6
Mainland China no. Apr/2006 990 066 19.2 3 967 829 19.7
Hong Kong no. Apr/2006 623 193 41.7 2 219 115 23.4
Taiwan, China no. Apr/2006 126 528 -4.0 455 567 -6.4
III - CONSTRUCTION AND REAL ESTATE
Gross floor area of buildings started m2 Mar/2006 208 937 1 233.5 286 464 254.1
Units of buildings started no. Mar/2006 1 174 886.6 1 372 110.4
Gross floor area of buildings completed m2 Mar/2006 10 072 -85.2 180 633 118.8
Units of buildings completed no. Mar/2006 33 -28.3 354 622.4
Building units transacted no. Apr/2006 1 590 -50.1 6 393 -44.6
IV - EXTERNAL TRADE
Exports 106 MOP Apr/2006 1 649.79 45.0 6 421.20 38.5
Imports 106 MOP Apr/2006 3 133.06 30.6 10 834.86 29.1
Trade balance 106 MOP Apr/2006 - 1 483.26 .. - 4 413.67 ..
V - CONSUMER PRICE INDEX
(7/2004 to 6/2005 = 100) Apr/2006 107.55 6.3 .. 5.2a
VI - PUBLIC ACCOUNTS
Revenue excluding Autonomous Agencies 106 MOP Apr/2006 2 317.14 29.5 8 024.64 20.3
Revenue from gaming tax 106 MOP Apr/2006 1 764.01 16.6 6 378.31 15.8
Expenditure excluding Autonomous Agencies 106 MOP Apr/2006 766.29 19.9 3 446.41 3.6
Balance 106 MOP Apr/2006 1 550.86 .. 4 578.23 ..
VII - EMPLOYMENT
Employed population 10 3 Feb/2006-Apr/2006 257.3 11.6 255.4 11.2
Unemployment rate % Feb/2006-Apr/2006 3.9 -0.2b 3.9 -0.2b
Non-resident workers in Macao no. Apr/2006 48 775 65.8 47 876 67.1
VIII - MONEY
Narrow money supply (M1) 106 MOP Mar/2006 12 870.7 -5.2 12 737.2 -9.3
Broad money supply (M2) 106 MOP Mar/2006 144 806.4 18.2 142 998.3 15.5
Domestic loans and advances to the private sector 106 MOP Mar/2006 44 013.1 20.1 43 702.5 20.4
Foreign exchange reserves 106 MOP Mar/2006 56 434.7 26.7 54 429.8 22.5
a Annual rate of change ended April 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
APRIL / 2006 No. 4 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
Apr/2005 May/2005 Jun/2005 Jul/2005 Aug/2005 Sep/2005 Oct/2005 Nov/2005 Dec/2005 Jan/2006 Feb/2006 Mar/2006 Apr/2006 106 MOP
Exports Imports
5 - UNEMPLOYMENT RATE
3.9%
3 4 5
Feb/2005 - Apr/2005
Mar/2005 - May/2005
Apr/2005 - Jun/2005
May/2005 - Jul/2005
Jun/2005 - Aug/2005
Jul/2005 - Sep/2005
Aug/2005 - Oct/2005
Sep/2005 - Nov/2005
Oct/2005 - Dec/2005
Nov/2005 - Jan/2006
Dec/2005 - Feb/2006
Jan/2006 - Mar/2006
Feb/2006 - Apr/2006
%
2 - GAMING AND TOURISM
0 500 1 000 1 500 2 000
Apr/2005 May/2005 Jun/2005 Jul/2005 Aug/2005 Sep/2005 Oct/2005 Nov/2005 Dec/2005 Jan/2006 Feb/2006 Mar/2006 Apr/2006 103
0 1 000 2 000 3 000 4 000 5 000 106 MOP Visitor arrivals
Gross gaming receipts
1- GROSS DOMESTIC PRODUCT
-10 0 10 20 30 40 50 60
Q2/2003 Q3/2003 Q4/2003 Q1/2004 Q2/2004 Q3/2004 Q4/2004 Q1/2005 Q2/2005 Q3/2005 Q4/2005 Q1/2006
%
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
Apr/2005 May/2005 Jun/2005 Jul/2005 Aug/2005 Sep/2005 Oct/2005 Nov/2005 Dec/2005 Jan/2006 Feb/2006 Mar/2006 Apr/2006
%
95 100 105 110 Index
Global index Annual Inflation rate
