• 沒有找到結果。

AMCM prepares the analysis of Money and Finance and data on tables VIII.1 to VIII.7. DSEC prepares the analysis and data on the remaining sections.

N/A
N/A
Protected

Academic year: 2022

Share "AMCM prepares the analysis of Money and Finance and data on tables VIII.1 to VIII.7. DSEC prepares the analysis and data on the remaining sections. "

Copied!
74
0
0

加載中.... (立即查看全文)

全文

(1)

MACAO ECONOMIC BULLETIN

This is a joint publication of the Macao Economic Services (DSE), the Monetary Authority of Macao (AMCM) and the Statistics and Census Service (DSEC). DSE prepares the analysis of the World Economy and External Merchandise Trade, as well as data on tables I.1, I.2, II.7 and II.8.

AMCM prepares the analysis of Money and Finance and data on tables VIII.1 to VIII.7. DSEC prepares the analysis and data on the remaining sections.

Further information can be obtained from the Documentation and Information Centre of DSEC.!

 ʳ ʳ



Reproduction of these data is allowed provided the source is quoted.

2 n d Quarter

2 0 13

(2)

Editor: DSEC Macao, October 2013

Typesetting and design: DSEC

Printing: DSEC

(3)

CONTENTS

THE WORLD ECONOMY...9

ANALYSIS OF THE MACAO ECONOMY I. OVERVIEW ...15

II. MAJOR SEGMENTS OF THE ECONOMY A. EXTERNAL MERCHANDISE TRADE ...16

B. TOURISM, GAMING AND MICE...19

C. CONSUMPTION AND PRICES...22

D. EMPLOYMENT ...24

E. INVESTMENT ...25

F. PUBLIC ACCOUNTS ...28

G. MONEY AND FINANCE...29

H. OTHER ECONOMIC INDICATORS ...30

III. CONCLUDING REMARKS...31

TABLES I. PRINCIPAL ECONOMIC INDICATORS OF THE WORLD AND MACAO 1. PRINCIPAL ECONOMIC INDICATORS OF THE WORLD (YEAR-ON-YEAR COMPARISON) ...35

2. PRINCIPAL ECONOMIC INDICATORS OF THE WORLD (QUARTER-TO-QUARTER COMPARISON) ...37

3. GROSS DOMESTIC PRODUCT OF MACAO ...37

4. PRINCIPAL ECONOMIC INDICATORS OF MACAO...38

II. EXTERNAL MERCHANDISE TRADE 1. PRINCIPAL STATISTICS ON EXTERNAL MERCHANDISE TRADE...39

2. PRINCIPAL STATISTICS ON EXPORTS...40

3. PRINCIPAL STATISTICS ON DOMESTIC EXPORTS...41

4. PRINCIPAL STATISTICS ON RE-EXPORTS...42

5. STRUCTURE OF EXPORTS BY MARKET AND TYPE OF GOODS...42

6. PRINCIPAL STATISTICS OF IMPORTS…. ...43

7. EXPORT ORDERS ON HAND AND EXPORT PERFORMANCE OUTLOOK OF SELECTED MANUFACTURING INDUSTRIES ...44

8. EXPORT PERFORMANCE OUTLOOK FOR THE NEXT 6 MONTHS OF SELECTED MANUFACTURING INDUSTRIES ...44

III. TOURISM, GAMING AND MICE 1. INDICATORS OF THE GAMING SECTOR...45

2. GROSS GAMING REVENUE, TAX REVENUE FROM GAMING AND CONTRIBUTION TO THE ECONOMY ...46

3. VISITOR ARRIVALS ...47

(4)

4. HOTEL GUESTS...48

5. SPENDING OF VISITORS...49

6. AVERAGE LENGTH OF STAY OF VISITORS ...50

7. MICE STATISTICS ...51

IV. CONSUMPTION AND PRICES 1. PRICE INDICES...52

2. RETAIL SALES...53

3. SALES VOLUME INDEX...53

V. POPULATION AND LABOUR FORCE 1. PRINCIPAL STATISTICS ON POPULATION AND EMPLOYMENT...54

2. MEDIAN MONTHLY EMPLOYMENT EARNINGS OF THE EMPLOYED POPULATION...54

3. EMPLOYED POPULATION BY GENDER, AGE GROUP AND INDUSTRY ...55

4. JOB VACANCIES ...55

5. UNEMPLOYED POPULATION BY AGE GROUP, INDUSTRY AND REASONS OF UNEMPLOYMENT ...56

6. UNDEREMPLOYED POPULATION BY INDUSTRY AND REASONS OF UNDEREMPLOYMENT...57

7. NON-RESIDENT WORKERS ...57

VI. CONSTRUCTION AND REAL ESTATE 1. PRIVATE SECTOR CONSTRUCTION...58

2. PURCHASE AND SALE OF BUILDING UNITS ...59

3. PURCHASE AND SALE OF BUILDING UNITS BY END-USE OF UNIT AND BUYER’S STATUS...60

4. AVERAGE PRICE PER SQUARE METRE OF RESIDENTIAL UNITS, OFFICES AND INDUSTRIAL UNITS PURCHASED AND SOLD ...61

5. PUBLIC WORKS ...61

VII. PUBLIC ACCOUNTS 1. PUBLIC REVENUE AND EXPENDITURE ...62

2. PUBLIC REVENUE ...63

3. PUBLIC EXPENDITURE...64

4. PUBLIC INVESTMENT...64

VIII. MONEY AND FINANCE 1. MONETARY SURVEY...65

2. RESIDENT DEPOSITS ...66

3. DOMESTIC LOANS TO THE PRIVATE SECTOR – SECTORAL DISTRIBUTION ...67

(5)

4. MORTGAGE LOANS ...67

5. LOAN-TO-DEPOSIT RATIOS OF LOCAL MONETARY INSTITUTIONS...68

6. EXCHANGE RATES OF THE MACAO PATACA AGAINST MAJOR CURRENCIES AND EFFECTIVE EXCHANGE RATE INDEX OF MACAO PATACA ...69

7. INTEREST RATES OF THE MACAO PATACA...69

IX. OTHER ECONOMIC INDICATORS 1. NEW INCORPORATIONS AND COMPANIES IN DISSOLUTION...70

2. TRANSPORT ...71

3. COMMUNICATIONS ...72

4. CONSUMPTION OF WATER, ELECTRICITY, FUELS AND CEMENT...72

5. OUTBOUND TRAVEL OF MACAO RESIDENTS...73

(6)

қ।

Página vazia

Blank page

(7)

THE WORLD ECONOMY

(8)

қ।

Página vazia

Blank page

(9)

Global economic performance remained weak in the second quarter of 2013. Slow recovery in the US economy, recession in the Euro area albeit signs of improvement, stagnant export growth in the Asian region, together with the expected withdrawal of the U.S. monetary stimulus measures, continued to pose risks to global recovery. The World Economic Outlook (WEO) Update of the International Monetary Fund (IMF) in July 2013 indicated that global growth was lower than the April forecast, driven by weaker domestic demand in major emerging market economies, as well as a more protracted recession in the Euro area. The world economy is projected to expand by 3.1% in 2013 and 3.8% in 2014, both down by 0.2 percentage points from the April forecast.

The US economy continued to recover at a slow pace. Gross Domestic Product (GDP) for the second quarter of 2013 expanded by 1.6% year-on-year and 2.5% quarter-to-quarter. Private consumption expenditure and fixed investment contributed 1.2 and 0.9 percentage points to economic growth; the substantial increase in exports added 1.1 percentage point to the growth, but it was totally offset by the increase of imports; meanwhile, government spending dragged down the rate of increase by 0.2 percentage points. The second quarter unemployment rate dropped by 0.7 percentage points quarter-to-quarter to 7.4% upon continuous economic growth; the seasonal adjusted unemployment rate stood at 7.6%.

The economies of Germany and France resumed growth in the second quarter of 2013, but the Euro area remained in recession. The second quarter GDP of the Euro area shrank by 0.5%

year-on-year, marking six consecutive quarters of negative growth, yet the rate of contraction has slowed; the economy increased by 0.3% quarter-to-quarter, with slight improvement in economic conditions. Exports contributed 0.8 percentage points to economic growth; consumption expenditure of households and non-profit institutions, and government final consumption expenditure both added 0.1 percentage point to growth. With signs of improvement in economic performance, the unemployment rate decreased by 0.6 percentage points quarter-to-quarter to 12.0%.

Benefited from the growth in the service sector, and the construction and manufacturing industries, the second quarter GDP of the UK expanded by 1.5% year-on-year, a significant growth from the previous quarter, and increased by 0.7% quarter-to-quarter. Both household and government final consumption expenditure contributed 0.2 percentage points to economic growth, and net exports pushed up the rate of increase by 0.3 percentage points. Despite stronger economic growth, the unemployment rate stayed unchanged for four consecutive quarters, at 7.8%.

Growth of the export-oriented Asian economies slowed upon stagnant exports. The July WEO Update of IMF indicated that the ASEAN 5

a

is projected to expand by 5.6%, the Middle East and the North African region by 3.0%, and the Chinese and Indian economies by 7.8% and 5.6%

a

Indonesia, Malaysia, the Philippines, Thailand and Vietnam

(10)

respectively for the whole year of 2013, with the growth projections for all economies being revised downward from the April forecast.

Japan continued to implement a loose monetary policy, but the economic growth was still below expectations. The second quarter GDP increased by 0.9% year-on-year and 0.6%

quarter-to-quarter. Domestic demand and exports contributed 0.5 and 0.4 percentage points to economic growth. The unemployment rate held stable from the previous quarter at 4.2% amid slow economic recovery; the seasonal adjusted rate dropped by 0.2 percentage points to 4.0%.

The economy of Mainland China maintained steady growth. The second quarter GDP expanded by 7.5% year-on-year, down by 0.2 percentage points from the previous quarter. In the first half year of 2013, value added of the above-scale industries rose by 9.3% year-on-year, down by 0.2 percentage points from the increase in the first quarter of 2013; fixed asset investment increased by 20.1% year-on-year, down by 0.8 percentage points; retail sales of consumer goods rose by 12.7% year-on-year, up by 0.3 percentage points, with jewellery rising by 29.7%, sales of furniture by 21.3%, and construction and decoration materials by 18.2%. Total value of external merchandise trade for the first half of 2013 rose by 8.6% year-on-year, with trade surplus amounting to USD108.0 billion. Inflation held stable, with the Consumer Price Index for the second quarter staying at 2.4% and that for June rising by 2.7% year-on-year.

The economy of Hong Kong continued to grow moderately in the second quarter of 2013, up by 3.3% year-on-year and 0.8% quarter-to-quarter. Domestic demand remained the key impetus to growth, of which gross fixed capital formation resumed growth by 6.9%, private consumption expenditure and government final consumption expenditure increased by 4.2% and 3.1%

respectively year-on-year. The weakened external environment continued to affect the trade performance of Hong Kong, with merchandise imports and exports rising by 3.5% and 2.4%

year-on-year, or down by 1.1% and 2.9% quarter-to-quarter. The unemployment rate held stable as

the previous quarter at 3.4%; the seasonal adjusted unemployment rate stood at 3.3%.

(11)

GDP of major economies (Year-on-year change)

-2.0 0.0 2.0 4.0 6.0 8.0

USA Euro Area Japan M ainland

China

United Kingdom

Hong Kong

%

Q1/2013 Q2/2013

(12)

қ।

Página vazia

Blank page

(13)

ANALYSIS OF THE MACAO ECONOMY

(14)

қ।

Página vazia

Blank page

(15)

I. Overview

In the second quarter of 2013, the economy of Macao increased by 10.2% year-on-year in real terms. Economic growth was spurred by the increase in exports of services. In terms of external demand, increase in exports of gaming services and total visitor spending supported sustained rise in exports of services, while merchandise exports maintained growth. As regards domestic demand, investment increased and private consumption expenditure grew upon favourable employment situation and rising incomes. For the first half year of 2013, the economy expanded by 10.5%.

The following highlights year-on-year comparisons of major segments of the local economy in the second quarter and the first half year of 2013:

1. Total value of merchandise exports increased by 14.4% in the second quarter, of which exports of machines, apparatus & parts rose by 6.4%, while that of garment dropped by 23.1%.

Analysed by destination, exports to Hong Kong and Mainland China increased by 23.2% and 25.6% respectively; however, exports to the EU and the USA decreased by 11.6% and 45.0%.

Total value of merchandise imports rose by 15.2%, with imports of consumer goods, which took up a significant share of the total, increasing by 20.8%. A visible trade deficit of MOP17.63 billion was recorded in the second quarter. For the first half year of 2013, merchandise exports and imports increased by 16.4% and 12.3% respectively, with the visible trade deficit amounting to MOP33.98 billion.

2. Visitor arrivals increased by 6.5% in the second quarter; gross gaming revenue expanded by 15.7%; guests of hotels and guesthouses rose by 18.0%, and per-capita spending of visitors went up by 15.2%. After adjusting for price changes, exports of services increased by 11.1%, and imports of services rose by 1.1%. For the first half year, gross gaming revenue increased by 15.2%, visitor arrivals grew by 4.2%, and guests of the hotel sector rose by 16.9%, causing exports of services to expand by 9.8% in real terms; imports of services also posted an increase of 1.4% in real terms.

3. Unemployment rate remained low at 1.8% in the second quarter upon encouraging employment situation; median monthly employment earnings increased by 9.1%. Inflation eased with the Composite Consumer Price Index (Composite CPI) rising by 5.1% in the second quarter. Private consumption expenditure increased by 4.5%, and government final consumption expenditure expanded by 7.6%. For the first half year of 2013, the Composite CPI grew by 5.3%; private consumption expenditure and government final consumption expenditure went up by 7.3% and 4.9% respectively.

4. Overall investment increased by 4.3% in the second quarter. Total construction investment

(16)

expanded by 7.7%, with construction by the private sector rising by 21.1% but that of the public sector dropping by 31.3%. Total equipment investment decreased by 9.5%, in which investment of the private sector dropped by 10.6% but that of the public sector rose by 7.9%.

Number of new incorporations increased by 20.8% and the value of registered capital also rose by 93.9%. Overall investment in the first half year of 2013 increased by 8.9%; meanwhile, number of new incorporations rose by 16.6% and the value of registered capital went up by 13.7%.

5. Number and value of building units purchased and sold increased by 20.1% and 32.4%

respectively over the first quarter of 2013. The average transaction price of residential units went up by 14.1% quarter-to-quarter.

6. Total government revenue increased by 22.9% to MOP39.34 billion in the second quarter, with tax revenue from gaming rising by 17.2% to MOP33.69 billion. Total expenditure decreased by 31.3% to MOP10.71 billion, with current expenditure amounting to MOP9.52 billion.

Fiscal surplus for the second quarter stood at MOP28.63 billion. For the first half year, public revenue expanded by 19.8% while expenditure decreased by 21.3%, resulting in a fiscal surplus of MOP56.78 billion.

II. Major Segments of the Economy

Note: Unless otherwise specified, the rates of change refer to year-on-year change in nominal terms.

A. External Merchandise Trade

Overview

Growth in external merchandise trade sustained, with total value of merchandise imports and exports rising by 15.1% to MOP22.14 billion in the second quarter of 2013. Merchandise imports increased by 15.2% to MOP19.89 billion, and merchandise exports rose by 14.4% to MOP2.26 billion. The exports-imports ratio dropped by 0.1 percentage point year-on-year to 11.3%.

Merchandise trade deficit widened from MOP15.30 billion in the second quarter of 2012 to MOP17.63 billion. For the first half year of 2013, value of merchandise exports increased by 16.4%

to MOP4.60 billion, and that of merchandise imports rose by 12.3% to MOP38.57 billion, with the

trade deficit amounting to MOP33.98 billion.

(17)

Total Exports

In the second quarter of 2013, value of merchandise exports to Vietnam (MOP66.72 million), Mainland China (MOP435.2 million), Hong Kong (MOP1.18 billion) and Japan (MOP42.77 million) increased by 140.6%, 25.6%, 23.2% and 4.0% respectively; exports to the USA (MOP74.55 million), Taiwan, China (MOP7.28 million) and the EU (MOP79.04 million) decreased by 45.0%, 28.0% and 11.6% respectively. As the major merchandise of exports, value of machines, apparatus & parts (MOP385.2 million) increased by 6.4% to take up 17.1% of the total exports.

Besides, exports of diamond & diamond jewellery; clocks & watches and electronic components rose robustly by 386.5%, 135.2% and 91.7% respectively; exports of copper & articles thereof and other products increased by 9.2% and 4.2%; on the contrary, exports of garment & textile products and tobacco & wine dropped by 16.8% and 4.0%.

Merchandise exports (Year-on-year change)

-50 -40 -30 -20 -10 0 10 20 30 40

Q2 Q3 Q4 Q1 Q2

2012 2013

%

Total exports USA EU

Domestic Exports

In the second quarter of 2013, domestic exports amounted to MOP550.8 million (24.4% of total exports), down by 8.8% year-on-year but up by 20.1% quarter-to-quarter. Hong Kong continued to be the largest market of Macao’s domestic exports, but the value of exports decreased continuously by 3.2% year-on-year; besides, domestic exports to the USA and the EU declined by 43.6% and 13.4% respectively. Analysed by principal commodity, decline in exports of garment (17.2% of total domestic exports) widened to 46.7%, of which exports to the USA (36.8% of total exports of garment) fell sharply by 58.5% and exports to the EU (47.7%) dropped by 20.5%;

meanwhile, exports of tobacco & wine (31.8%) increased by 15.1% and that of other products

(51.0%) went up by 2.3%.

(18)

Domestic exports to Mainland China decreased by 6.4% to MOP65.92 million (12.0% of total), of which tariff-free merchandise exports under the Mainland and Macao Closer Economic Partnership Arrangement (CEPA) dropped by 10.4% to MOP20.40 million, consisting mainly of copper-clad boards (51.8% of total) and stamps (34.2%); the amount of tariff saved totalled MOP1.39 million.

In addition, results of the Industrial Exports Survey for the second quarter of 2013 indicated that the average length of time of orders on hand of the interviewed manufacturers stood at 2.1 months, down by 21.8% from 2.7 months both in the same quarter of 2012 and the previous quarter.

Meanwhile, 28.1% of the enterprises expressed optimism about the domestic industrial exports in the coming six months, down by 11.8 percentage points quarter-to-quarter but up by 12.4 percentage points year-on-year, with 2.0% anticipating a substantial increase and 26.1% expecting a modest rise. However, 27.8% expected less promising prospects of exports, down by 3.8 percentage points quarter-to-quarter and 15.7 percentage points year-on-year; moreover, 44.1% expected the outlook of exports remained stagnant, up by 15.6 percentage points quarter-to-quarter and 3.3 percentage points year-on-year. The findings showed that the manufacturers were generally cautious about the outlook of exports.

Re-exports

Total value of re-exports rose by 24.7% to MOP1.71 billion (75.6% of total exports) in the second quarter of 2013. Hong Kong was the largest market of Macao’s re-exports (57.5% of total), which was followed by Mainland China (21.7%). Value of re-exports to Hong Kong and Mainland China soared by 30.3% and 33.8%.

In terms of the types of merchandise, re-exports of consumer goods (32.9%), other products (57.5%) and raw materials & semi-manufactures (9.6%) increased by 30.1%, 23.7% and 14.1%

respectively.

Imports

Value of merchandise imports increased by 15.2% year-on-year to MOP19.89 billion in the second quarter of 2013, on account of rising imports of consumer goods that took up 64.6% of the total imports. Mainland China continued to be the main supplier of goods imported to Macao and the value of imports rose by 12.6% to MOP6.45 billion (32.4% of total). Value of imports from the EU (21.7%), Hong Kong (15.0%), Switzerland (8.8%), Japan (5.8%), the USA (4.3%) and Taiwan, China (1.9%) expanded by 10.0%, 54.9%, 15.7%, 7.6%, 11.4% and 21.3% respectively.

Regarding the types of merchandise, imports of consumer goods (64.6% of total), capital

goods (15.4%), and raw materials & semi-manufactures (9.9%) increased by 20.8%, 3.3% and

(19)

18.8% respectively, while imports of fuels & lubricants (10.1%) remained at the same level as a year earlier.

Imports of consumer goods sustained growth in the second quarter of 2013. Except a drop of 2.4% and 16.6% in the imports of handbags & wallets (4.3% of total imports) and light passenger cars & motorcycles (3.8%), imports of gold jewellery (11.4%), food & beverages (11.1%), watches (8.3%) and clothing & footwear (5.1%) increased by 20.3%, 11.8%, 19.0% and 9.6% respectively.

Merchandise imports and the main components (Year-on-year change)

-10 0 10 20 30

Q2 Q3 Q4 Q1 Q2

2012 2013

%

Total imports Consumer goods

Capital goods Raw materials and semi-manufactures

B. Tourism, Gaming and MICE

In the second quarter of 2013, visitor arrivals increased by 6.5%; per-capita spending of visitors grew by 15.2%; exports of gaming services rose by 10.2% in real terms; guests of hotels and guesthouses went up by 18.0%; meanwhile, number of participants and attendees to MICE events increased significantly by 68.1% year-on-year.

Gaming

Gross gaming revenue amounted to MOP86.42 billion in the second quarter, up by 15.7%

year-on-year. Gross revenue of game of chance increased by 15.8% to MOP86.16 billion (99.7% of total), and that of pari-mutuels and lotteries rose by 0.3% to MOP255.7 million. For the first half year of 2013, gross gaming revenue went up by 15.2% year-on-year to MOP172.02 billion.

Number of casinos remained at 35 in the second quarter, with 5,746 gaming tables (+4.5%)

(20)

and 15,310 slot machines (-10.1%).

Gross gaming revenue

0 10 20 30 40 50 60 70 80 90

Q2 Q3 Q4 Q1 Q2

2012 2013 Billion M OP

0 5 10 15 20

%

Gross gaming revenue Year-on-year change

Visitor Arrivals

Visitor arrivals increased by 6.5% to 7,065,798 in the second quarter, attributable to the 15.7%

rise in visitors from Mainland China to 4,492,158, with 1,816,370 travelling to Macao under the Individual Visit Scheme (IVS), up by 14.5%. Moreover, visitors from the Republic of Korea increased by 9.1%, whereas visitors from Hong Kong; Taiwan, China; Japan; Malaysia; Singapore;

the USA and Australia registered year-on-year decrease. Average length of stay of visitors stood at 1.0 day, same as the previous quarter and the same quarter of 2012. Same-day visitors accounted for 51.2% of the total visitor arrivals. Meanwhile, visitor arrivals in package tours rose by 14.1% to 2,313,037.

For the first half year of 2013, visitor arrivals increased by 4.2% year-on-year to 14,142,240;

visitor arrivals in package tours rose by 12.9% to 4,610,370.

(21)

Principal visitor markets

0.0 0.5 1.0 1.5 2.0 2.5 3.0 3.5 4.0 4.5

Q2 Q3 Q4 Q1 Q2

2012 2013 M illion

M ainland China Hong Kong Taiwan, China Republic of Korea

Hotels

Hotels and guesthouses had 28,082 available guest rooms, an increase of 15.7%; guest rooms of five-star hotels accounted for 66.5% of the total. The hotels and guesthouses received 2,709,028 guests in the second quarter of 2013, up by 18.0%. Visitor-guests took up 74.0% of the total number of overnight visitors. Due to an increase in number of guest rooms, the average occupancy rate of hotels and guesthouses dropped by 0.4 percentage points year-on-year to 79.7%. For the first half year of 2013, guests of the hotel sector increased by 16.9% year-on-year to 5,233,519 but the average occupancy rate dropped by 2.0 percentage points to 79.6%.

Average length of stay of guests stood at 1.3 nights, down by 0.1 night from the second quarter of 2012, with guests of the five-star hotels staying the longest, at 1.4 nights. For the first half year of 2013, average length of stay of guests held stable as the same quarter of 2012, at 1.4 nights.

Visitor Spending

Total spending of visitors amounted to MOP13.94 billion in the second quarter of 2013, up by 22.6% year-on-year.

Per-capita spending of visitors increased by 15.2% to MOP1,973. Mainland visitors had the highest per-capita spending of MOP2,511, and those travelling under IVS spent MOP2,819;

per-capita spending of visitors from Singapore; Japan; Taiwan, China; and Hong Kong amounted to

MOP1,719, MOP1,434, MOP1,406 and MOP878 respectively. Per-capita spending of overnight

visitors increased by 17.3% to MOP3,396, and that of same-day visitors increased by 3.3% to

MOP614.

(22)

Analysed by expenditure structure, visitors spent mainly on Shopping (49%); Accommodation (24%); and Food & Beverage (19%). Shopping items included Local Food Products (21%), Clothing (19%) and Jewellery & Watches (19%).

Per-capita spending of visitors from selected markets

0 400 800 1 200 1 600 2 000 2 400 2 800

Q2 Q3 Q4 Q1 Q2

2012 2013 M OP

M ainland China Hong Kong Taiwan, China Singapore Japan

MICE (Meetings, Incentives, Conventions and Exhibitions)

A total of 228 MICE events were held in the second quarter of 2013, down by 6 year-on-year;

number of participants and attendees increased significantly by 68.1% to 218,571. There were 8 exhibitions, held stable as the same quarter of 2012; number of attendees increased by 3.9% to 194,399. Meanwhile, 220 meetings and conferences were held, drawing 24,172 participants.

For the first half year of 2013, a total of 458 MICE events were held, down by 47 year-on-year;

total number of participants and attendees increased by 44.6% to 422,063.

C. Consumption and Prices

Private Consumption

Private consumption expenditure expanded by 4.5% in real terms, lower than the 10.2% rise in

the first quarter of 2013. Household final consumption expenditure in the domestic market

increased by 5.8% and that abroad went up by 6.3%. Private consumption expenditure for the first

half year of 2013 registered an increase of 7.3%.

(23)

Retail Sales

Value of retail sales amounted to MOP15.77 billion in the second quarter, up by 22.8%

year-on-year and 0.4% quarter-to-quarter. Value of retail sales of Watches, clocks & jewellery (34.7% of total), Goods in department stores (13.5%), Leather goods (10.3%) and Adults’ clothing (8.5%) increased by 33.4%, 24.1%, 27.0% and 27.6% respectively year-on-year. Total value of retail sales for the first half year of 2013 rose by 20.7% year-on-year to MOP31.48 billion; value of retail sales of Watches, clocks & jewellery topped at MOP10.14 billion.

After removing the effect of price changes, volume of retail sales increased by 22.9%

year-on-year, with marked increase being observed in the sales volume of Watches, clocks &

jewellery (+41.2%), Cosmetics & sanitary articles (+40.0%), Leather goods (+30.1%), and Adults’

clothing (+25.7%). Volume of retail sales rose by 0.7% quarter-to-quarter, of which sales volume of Watches, clocks & jewellery and Automotive fuels went up by 26.7% and 9.5% respectively, but that of Motor vehicles fell by 16.7%. For the first half year of 2013, volume of retail sales increased by 20.0%, with the sales volume of Cosmetics & sanitary articles rising the most by 35.4%.

Value of selected retail sales

0 1000 2000 3000 4000 5000 6000

Q2 Q3 Q4 Q1 Q2

2012 2013 M OP million

Adults' clothing M otor vehicles Leather goods Goods in department stores Watches, clocks & jewellery

Prices

The average Composite CPI for the second quarter rose by 5.1% year-on-year, with notable increase being observed in the price indices of Housing & fuels (+8.8%), Health (+7.2%), and Food

& non-alcoholic beverages (+6.6%); meanwhile, index of Communication decreased further by

2.8% and that of Education dropped by 3.1%. The year-on-year increase in the average Composite

CPI declined gradually from 6.6% in the second quarter of 2012 to 5.1%, indicating that consumer

(24)

prices continued to move upward but at a slower pace. In addition, implicit deflator of GDP that measures changes in overall prices rose by 7.2% year-on-year.

For the first half year of 2013, the average Composite CPI increased by 5.3% year-on-year, with notable increase being observed in the price indices of Housing & fuels (+9.0%) and Food &

non-alcoholic beverages (+6.7%); however, price index of Education decreased by 3.1%. Implicit deflator of GDP rose by 6.8% in the first half year of 2013.

Composite CPI and Implicit Deflator of GDP (Year-on-year change)

0 1 2 3 4 5 6 7 8

Q2 Q3 Q4 Q1 Q2

2012 2013

%

Composite CPI Implicit Deflator of GDP

D. Employment

Employment and employment earnings remained strong. Economically active population (labour force) totalled 364,000 in the second quarter, with an employed population of 358,000, up by 5.3% and 5.6% year-on-year respectively. Employment in Recreational, Cultural, Gaming &

Other Services reached 92,000, of which 82,000 were working in the Gaming Sector, accounting for 23.1% of the total. Non-resident workers totalled 121,194, with 29.8% working in Hotels &

Restaurants and 14.9% in Construction.

Unemployment rate was 1.8%, down by 0.3 percentage points year-on-year and 0.1 percentage

point quarter-to-quarter; total number of unemployed was 6,500, with 4.6% being fresh labour force

entrants searching for their first job. Analysed by the previous industry engaged, 30.9% had worked

in Recreational, Cultural, Gaming & Other Services, 27.6% in Construction, and 14.7% in

Wholesale and Retail Trade. In terms of educational attainment, 30.9% had junior secondary

education; 22.6% had tertiary education and 22.1% had primary education. Underemployment rate

(25)

was 0.7%.

Median monthly employment earnings of the employed stood at MOP12,000 in the second quarter, held stable as the previous quarter but up by 9.1% year-on-year. Median employment earnings of the Manufacturing Sector logged the highest year-on-year increase of 38.5%. For the Gaming Sector that accounted for the largest share of total employment, median employment earnings rose by 6.7% both quarter-to-quarter and year-on-year.

Employed population and unemployment rate

330 340 350 360

Q2 Q3 Q4 Q1 Q2

2012 2013 Thousand persons

1.6 1.8 2.0 2.2

%

Employed population Unemployment rate

E. Investment

Investment in Construction and Equipment

In the second quarter of 2013, construction investment increased by 7.7% but equipment investment decreased by 9.5% in real terms, causing overall investment to expand by 4.3%.

Investment by the private sector grew by 13.6%, but that by the public sector went down by 29.3%.

For the first half year of 2013, overall investment increased by 8.9%, with construction investment rising by 16.4% but equipment investment falling by 15.8%; investment by the private sector increased by 11.4% but that by the public sector decreased by 0.6%.

For the investment by the private sector, number of building completions, units and gross floor

area decreased by 61.9%, 35.1% and 90.8% respectively in the second quarter; meanwhile, number

of construction of new buildings, units and gross floor area increased by 28.6%, 65.4% and 4.6

times respectively. Rising investment in building construction and soaring housing prices led to a

(26)

substantial increase in property transfer fees and real estate developers’ margin, causing construction investment by the private sector to expand by 21.1% in real terms in the second quarter;

meanwhile, equipment investment dropped by 10.6% in real terms. For the first half year, total number of building completions, units and area decreased by 35.5%, 8.1% and 48.8% respectively;

number of construction of new buildings, units and area went up by 16.7%, 77.4% and 4.4 times respectively. Construction investment by the private sector increased by 22.4% but equipment investment dropped by 16.6% in real terms.

As regards investment by the public sector, construction investment decreased by 31.3% in the second quarter due to the completion of construction of the Hengqin Campus of the University of Macau; meanwhile, equipment investment went up by 7.9%.

Gross floor areas of buildings started and completed

0 100 200 300 400 500 600 700 800 900 1 000

Q2 Q3 Q4 Q1 Q2

2012 2013 Thousand m

2

Buildings started Buildings completed

Transactions on Real Estate

A total of 6,514 building units were purchased and sold in the second quarter, down by 17.0%

year-on-year but up by 20.1% quarter-to-quarter; total value amounted to MOP34.00 billion, up by 9.5% year-on-year and 32.4% quarter-to-quarter respectively. For the first half year of 2013, a total of 11,937 building units were purchased and sold at MOP59.69 billion, up by 4.4% and 39.6%

respectively year-on-year.

Analysed by end-use, 4,059 residential units were purchased and sold at MOP25.41 billion, accounting for 62.3% and 74.7% of the respective total.

As regards status of the buyers, 6,055 units (93.0% of total) were purchased by Macao

residents; value of transaction amounted to MOP32.19 billion, with its share in total value rising

(27)

from 94.1% in the previous quarter to 94.7%. Meanwhile, 399 units were purchased by non-residents, with the total value amounting to MOP1.51 billion. For the first half year of 2013, number of units purchased by resident buyers (11,283) and the value of transaction (MOP56.37 billion) accounted for 94.5% and 94.4% of the respective total; number of units purchased by non-resident buyers totalled 515 and the value of transaction amounted to MOP2.67 billion.

The average transaction price of residential units increased by 14.1% quarter-to-quarter to MOP88,957 per square metre of usable area in the second quarter. The average price of those in the Macao Peninsula rose by 19.7% quarter-to-quarter to MOP89,454 per square metre, while the average price of those in Taipa went up by 16.4% to MOP83,176 per square metre. The average price of office units increased by 1.6% quarter-to-quarter to MOP64,544 per square metre. The average price of industrial units rose by 19.6% quarter-to-quarter to MOP34,225 per square metre.

Total value of building units purchased and sold

0 5 10 15 20 25 30 35

Q2 Q3 Q4 Q1 Q2

2012 2013 M OP billion

Business Investment

Number of new incorporations increased by 20.8% to 1,146 in the second quarter of 2013, and the total value of registered capital increased by 93.9% to MOP173.5 million. Among the new incorporations, 34.0% were operating in Wholesale & Retail, 22.1% in Business Services and 12.9% in Construction. In terms of registered capital, Wholesale & Retail predominated with 41.7%

of the total, while Business Services and Transport, Storage & Communications accounted for 23.3% and 7.5% respectively. As regards origin of capital, capital from Macao shared 50.5% of the total and that from Mainland China and Hong Kong took up 22.8% and 5.8% respectively. For the first half year, total number of new incorporations increased by 16.6% to 2,134 and the registered capital rose by 13.7% to MOP327.6 million.

Number of companies in dissolution increased by 9.9% to 144 in the second quarter, with 52

(28)

engaging in Wholesale & Retail (36.1% of total), 38 in Business Services (26.4%), 19 in Construction (13.2%) and 16 in Real Estate (11.1%). Total number of companies in dissolution for the first half year increased by 4.6% year-on-year to 273.

F. Public Accounts

In the second quarter of 2013, total government revenue expanded by 22.9% to MOP39.34 billion on account of an increase in direct taxes, of which tax revenue from gaming rose by 17.2%

to MOP33.69 billion.

Meanwhile, total government expenditure decreased by 31.3% to MOP10.71 billion, attributable to the decrease in current transfers (-23.0%). Fiscal surplus stood at MOP28.63 billion in the second quarter, higher than the MOP16.42 billion surplus in the same quarter of 2012.

For the first half year 2013, total government revenue amounted to MOP73.86 billion, up by 19.8% year-on-year, with gaming tax revenue rising by 14.9% to MOP64.90 billion; total government expenditure decreased by 21.3% to MOP17.07 billion; fiscal surplus amounted to MOP56.78 billion.

Total government revenue and expenditure

0 5 10 15 20 25 30 35 40

Q2 Q3 Q4 Q1 Q2

2012 2013 M OP billion

Total revenue Total expenditure Fiscal surplus

(29)

G. Money and Finance

At the end of June 2013, narrow money supply M1 went up by 34.2% year-on-year, of which currency in circulation increased by 22.0% and demand deposits rose by 36.8%. Meanwhile, broad money supply M2 (including M1 and quasi-monetary liabilities) swelled by 23.3%. In terms of currency structure, the share of the Macao pataca (MOP) in M1 decreased by 4.5 percentage points to 43.1%, and its share in M2 dropped by 1.6 percentage points to 24.6%. The share of the Hong Kong dollar was 54.3% in M1 and 53.6% in M2.

Resident deposits rose by 23.4% year-on-year to MOP388.06 billion, of which deposits in the MOP, the Hong Kong dollar and other foreign currencies grew by 15.4%, 22.3% and 36.1%

respectively to MOP89.23 billion, MOP212.48 billion and MOP86.35 billion. Meanwhile, public sector deposits in banks increased by 44.4% to MOP56.73 billion.

Domestic loans extended to the private sector rose by 25.9% year-on-year to MOP226.41 billion, of which outstanding value of mortgage loans extended to residents went up by 28.5%

year-on-year to MOP172.12 billion. Within the domestic loans to the private sector, the MOP accounted for 32.2%, valued at MOP72.87 billion, and the Hong Kong dollar took up 59.0%, valued at MOP133.58 billion.

Resident deposits and loans

0 50 100 150 200 250 300 350 400

Q2 Q3 Q4 Q1 Q2

2012 2013

MOP billion (value at

the end of t he period)

Resident deposits M ortgage loans to residents Other loans to the private sector

The loan-to-deposit ratio for the resident sector at the end of June was 50.9%, up slightly by

0.1 percentage point from a year earlier, and that for both the resident and non-resident sectors

increased by 1.9 percentage points to 81.4%.

(30)

As the MOP is indirectly pegged to the US dollar, interest rates in Macao are normally adjusted to be in line with those in the US. In the second quarter, the US Federal Reserve maintained the range for the Fed funds rate at 0% to 0.25%. Meanwhile, Macao’s savings deposit rate was held stable at 0.01%.

!

The changes in the exchange rates of the MOP basically reflect the changes in those of the US dollar. In the second quarter of 2013, the exchange rates of the MOP exhibited a mixed performance against major currencies. The average exchange rates of the MOP against the New Zealand dollar, the Chinese renminbi and the Korean won decreased by 4.2%, 2.9% and 2.8% respectively year-on-year, whereas the respective rates against the Japanese yen, the British pound and the Australian dollar increased by 19.0%, 2.9% and 1.7%. The effective exchange rate index for the MOP, a gauge of exchange rates of the MOP against currencies of Macao’s major trading partners, rose by 0.24 points to 98.10.

H. Other Economic Indicators

Transport and Communications

In the second quarter of 2013, containerized cargo by land (6,549 tonnes), air cargo (6,517 tonnes) and seaborne containerized cargo (45,080 tonnes) decreased by 17.6%, 5.6% and 18.5%

respectively. For the first half year of 2013, containerized cargo by land, air cargo and seaborne containerized cargo declined by 36.4%, 6.4% and 14.3% year-on-year.

As regards local transport, new registration of motor vehicles totalled 4,128, up by 0.5%; new registration of cars increased by 1.4% to 2,346 while that of motorcycles decreased by 0.7% to 1,782. For the first half year of 2013, new registration of vehicles rose by 8.4% to 8,994, with that of cars rising by 19.6% but that of motorcycles falling by 4.1%. At the end of June 2013, number of licensed motor vehicles totalled 220,951, comprising 104,675 cars and 116,276 motorcycles.

At the end of June 2013, number of Internet subscribers went up by 10.4% to 240,952; mobile phone users increased by 4.5% to 1,532,063; fixed-line telephone dropped by 2.5% to 160,326.

Water and Energy Consumption

Consumption of electricity increased by 1.2% to 1.15 billion kWh in the second quarter of

2013, and that of water rose by 2.9% to 18.86 million cubic meters. Consumption of liquid fuel

(gasoline, kerosene, gas oil & diesel, and fuel oil) decreased by 15.8% to 85.58 million litres due to

a decrease in consumption of fuel oil; consumption of liquefied petroleum gas (LPG) went up by

(31)

6.1% to 10,633 tonnes. For the first half year of 2013, consumption of electricity increased by 3.4%

to 2.03 billion kWh and that of water rose by 3.8% to 36.75 million cubic meters; consumption of liquid fuel dropped by 8.5% to 164.85 million litres, and that of LPG went up by 1.2% to 23,030 tonnes.

III. Concluding Remarks

In the second quarter of 2013, the economy expanded by 10.2% in real terms. Economic growth was pushed forward by rising exports of services.

Looking ahead for the third quarter of 2013, domestic demand is expected to rise further, of

which total investment is likely to hold stable as the same quarter of previous year; private

consumption expenditure is projected to sustain growth on account of buoyant job market, rising

employment earnings and low unemployment rate. As regards external demand, merchandise

exports is likely to increase further; in addition, exports of services are expected to see steady rise as

visitor arrivals and gross gaming revenue for July and August of 2013 increased by 6.1% and

18.7%. Taking into consideration the above factors and slow recovery of the surrounding

economies, the economy of Macao for the third quarter of 2013 is expected to maintain favourable

growth.

(32)

қ।

Página vazia

Blank page

(33)

TABLES

(34)

SYMBOLS AND ABBREVIATIONS

.. Not applicable r Revised figures - Absolute value equals zero

# Confidential data

~ No figure provided

0

#

Magnitude less than half of the unit employed p Provisional figures

@ Figures are subject to revision later on

TEU Twenty-foot Equivalent Unit (20 feet × 8 feet × 8 feet)

Note: Due to rounding, total may not correspond to the sum of the partial figures.

Figures are subject to regular revisions when required.

(35)

I. PRINCIPAL ECONOMIC INDICATORS OF THE WORLD AND MACAO

1. PRINCIPAL ECONOMIC INDICATORS OF THE WORLD (YEAR-ON-YEAR COMPARISON)

%

2012 2012 2012 2013 2013

Q2 Q3 Q4 Q1 Q2

USA

ΓGross Domestic Product 2.5

r

1.8 2.8

r

2.8

r

3.1

r

2.0

r

1.3

r

1.6

ΓExports of goods 21.0 15.8 4.4

r

5.4

r

1.1

r

2.8

r

0.5 1.6

ΓImports of goods 22.7 15.4 3.0 3.7 - 0.6 -2.8 -1.4

ΓConsumer Price Index 1.7 3.1 2.1 1.9 1.7 1.9 1.7 1.4

ΓUnemployment rate 9.6 8.9 8.1 8.0 8.1 7.5 8.1 7.4

Euro area

a

ΓGross Domestic Product 2.0 1.5 -0.6 -0.5 -0.7 -1.0 -1.0

r

-0.5

ΓExports of goods 20.1 13.0 7.4 8.0

r

7.5 5.7 1.2

r

1.9

ΓImports of goods 22.4 13.3 1.7 1.4 0.4

r

1.0

r

-5.1

r

-3.3

ΓConsumer Price Index 1.6 2.7 2.5 2.5 2.5 2.3 1.9 1.4

ΓUnemployment rate 10.1 10.1 11.4 11.1 11.2

r

11.8 12.6 12.0

Germany

ΓGross Domestic Product 4.0

r

3.3

r

0.7 0.6

r

0.4 - -1.6

r

0.9

ΓExports of goods 18.5 11.5 3.4 3.6 3.6 1.3 -1.5 0.4

ΓImports of goods 19.9 13.2 0.7 0.1 -0.4 -0.7 -3.5 0.2

ΓConsumer Price Index 1.1 2.1 2.0 1.9 2.0 2.0 1.5 1.5

ΓUnemployment rate 7.7 7.1 6.8 6.8 6.7 6.6 7.4 6.8

French

ΓGross Domestic Product 1.6 2.0 - 0.1 - -0.3 -0.5

r

0.3

ΓExports of goods 12.8 9.0 4.0 5.4

r

3.9

r

1.6

r

-1.8

r

-0.6

ΓImports of goods 13.3 12.8 2.0

r

3.6

r

0.8

r

0.5

r

-3.1

r

-3.4

ΓConsumer Price Index 1.5 2.1 2.0 2.0 2.0 1.5 1.1 0.8

ΓUnemployment rate 9.7 9.6 10.3 9.8 10.1 10.9

r

11.2 10.5

United Kingdom

ΓGross Domestic Product 1.7

r

1.1

r

0.2

r

- 0.1

r

-

r

0.3

r

1.5

ΓExports of goods 16.5 12.5

r

0.3

r

-0.5 2.1

r

-4.2

r

-2.4

r

6.4

ΓImports of goods 17.1 9.5

r

2.2

r

3.2

r

-

r

-0.1

r

-1.0

r

1.6

ΓConsumer Price Index 3.3 4.5 2.8 2.8 2.4 2.6 2.8 2.7

ΓUnemployment rate 7.8 8.1 7.9 8.0 7.8 7.8 7.8 7.8

a Consists 17 member states since 2011.

Source : U.S. Bureau of Economic Analysis, U.S. Census Bureau, U.S. Bureau of Labor Statistics Eurostat

Federal Statistical Office of Germany

National Institute of Statistics and Economic Studies of France; French Customs Office for National Statistics of United Kingdom

2010 2011 2012

(36)

I. PRINCIPAL ECONOMIC INDICATORS OF THE WORLD AND MACAO

1. PRINCIPAL ECONOMIC INDICATORS OF THE WORLD (YEAR-ON-YEAR COMPARISON) (Cont'd)

%

2012 2012 2012 2013 2013

Q2 Q3 Q4 Q1 Q2

Mainland China

ΓGross Domestic Product 10.3 9.2 7.8 7.6 7.4 7.9 7.7 7.5

ΓExports of goods 31.3 20.3 7.9 10.4 4.4 9.4 18.4 3.8

ΓImports of goods 38.7 25.0 4.3 6.4 1.4 2.7 8.6r 5.0

ΓConsumer Price Index a 3.3 5.4 2.6 3.3 2.8 2.6 2.4 2.4

Hong Kong

ΓGross Domestic Product 6.8 4.9 1.5 0.9 1.5 2.8 2.9r 3.3

ΓExports of goods 22.8 10.1 2.9 1.9 3.8 7.0 4.0 2.4

ΓImports of goods 25.0 11.9 3.9 2.1 4.5 8.1 4.9 3.5

ΓConsumer Price Index 2.4 5.3 4.1 4.2 3.1 3.8 3.7 4.0

ΓUnemployment rate 4.3 3.4 3.3 3.3 3.5 3.1 3.4 3.4

Taiwan, China

ΓGross Domestic Product 10.8 4.1 1.3 -0.1 0.7 4.0 1.6r 2.5

ΓExports of goods 34.8 12.3 -2.3 -5.4 -2.2 2.4 2.4 2.4

ΓImports of goods 44.1 12.0 -3.9 -5.9 -3.4 -0.1 4.4 -3.5

ΓConsumer Price Index 1.0 1.4 1.9 1.7 3.0 1.8 1.8 0.8

ΓUnemployment rate 5.2 4.4 4.2 4.1 4.3 4.3 4.2 4.1

Japan

ΓGross Domestic Product 4.7 -0.6 2.0r 3.8r 0.3r 0.4 0.3r 0.9

ΓExports of goods 24.4 -2.7 -2.7 4.8 -8.2 -5.5 1.2 7.1

ΓImports of goods 18.0 12.1 3.8 5.0 0.3 0.5 8.1r 10.4

ΓConsumer Price Index -0.7 -0.3 - 0.2 -0.4 -0.2 -0.6 -0.3

ΓUnemployment rate 5.1 4.6 4.3 4.6 4.3 4.0 4.2 4.2

Republic of Korea

ΓGross Domestic Product 6.3 3.7 2.0 2.4 1.6 1.5 1.5 2.3

ΓExports of goods 28.3 19.0 -1.3 -1.7 -5.8 -0.4 0.4 0.8

ΓImports of goods 31.6 23.3 -0.9 -2.9 -6.9 -1.1 -3.0r -2.7

ΓConsumer Price Index 3.0 4.0 2.2 2.4 1.6 1.7 1.4 1.1

ΓUnemployment rate 3.7 3.4 3.2 3.3 3.0 2.8 3.6 3.1

Singapore

ΓGross Domestic Product 14.8 5.2 1.3 2.3 - 1.5 0.2 3.8

ΓExports of goods 22.4 7.5 -0.9 1.4 -4.2 -5.1 -8.7 -0.1

ΓImports of goods 18.8 8.6 3.2 4.6 -1.3 -0.4 -9.3 -4.0

ΓConsumer Price Index 2.8 5.2 4.6 5.3 4.2 4.0 4.0 1.6

ΓUnemployment rate 2.2 2.0 2.0 2.6 1.7 1.6 1.8 2.7

a Accumulated year-on-year comparison.

Source : China National Bureau of Statistics

Hong Kong SAR Census and Statistics Department

Directorate-General of Budget, Accounting and Statistics, Executive Yuan, Taiwan, China; Ministry of Economic Affairs, Taiwan, China Economic and Social Research Institute of Japan; Ministry of Finance of Japan; Statistics Bureau of Japan

National Statistics Office of Republic of Korea; Bank of Korea The Singapore Department of Statistics

2010 2011 2012

(37)

I. PRINCIPAL ECONOMIC INDICATORS OF THE WORLD AND MACAO

2. PRINCIPAL ECONOMIC INDICATORS OF THE WORLD (QUARTER-TO-QUARTER COMPARISON)

%

2012 2012 2012 2013 2013

Q2 Q3 Q4 Q1 Q2

USA

ΓGross Domestic Product 2.5r 1.8 2.8r 1.2r 2.8r 0.1r 1.1r 2.5

ΓExports of goods 21.0 15.8 4.4r 1.2r -0.2r -0.2r 0.4r 1.1

ΓImports of goods 22.7 15.4 3.0 -0.4 -1.4r 0.4r -0.5r -

ΓConsumer Price Index 1.7 3.1 2.1 0.3 0.5 0.5 0.4 -

ΓUnemployment ratea 9.6 8.9 8.1 8.2 8.0 7.8 7.7 7.6

Japan

ΓGross Domestic Product 4.7 -0.6 2.0r -0.2 -0.9 0.3 0.9r 0.6

ΓExports of goods 24.5 -2.6 -2.9 -0.2r -3.2r -1.4r 7.3r 4.5

ΓImports of goods 18.1 12.2 3.4 0.7r -0.4 -r 9.4r 1.5

ΓConsumer Price Index -0.7 -0.3 - -0.2 -0.4 - -0.1 0.2

ΓUnemployment ratea 5.1 4.6 4.3 4.4 4.3 4.2 4.2 4.0

Hong Kong

ΓGross Domestic Product 6.8 4.9 1.5 -0.1 1.1 1.4 0.2 0.8

ΓExports of goods 22.8 10.1 2.9 -2.3 2.6 4.9 -1.5 -2.9

ΓImports of goods 25.0 11.9 3.9 -0.9 2.2 4.7 -1.4 -1.1

ΓConsumer Price Index 2.4 5.3 4.1 0.8 -1.9 3.7 1.2 1.1

ΓUnemployment ratea 4.3 3.4 3.3 3.2 3.3 3.2r 3.5 3.3

a After seasonal adjustment.

Source : U.S. Bureau of Economic Analysis, U.S. Census Bureau, U.S. Bureau of Labor Statistics

Economic and Social Research Institute of Japan; Ministry of Finance of Japan; Statistics Bureau of Japan Hong Kong SAR Census and Statistics Department

3. GROSS DOMESTIC PRODUCT OF MACAO

2012 2012 2012 2013 2013

Q2 Q3 Q4 Q1 Q2@

At current prices:

GDP (Million MOP) 226 941 295 046 348 216 82 992 86 922 98 075 94 662 98 083

GDP per capita ('000 MOP) 422.7 537.1 611.9 .. .. .. .. ..

Chain volume measures in chained (2011) dollars:

GDP (Million MOP) 242 207 295 046 324 398 77 988 80 561 89 272 84 857 85 970

Year-on-Year change in real terms (%)

GDP 27.5 21.8 9.9 7.9 6.2 8.5 10.8 10.2

Private consumption expenditure 7.2 11.0 9.1 13.3 9.4 7.2 10.2 4.5

In the domestic market 5.3 10.6 9.0 12.3 8.9 8.6 10.0 5.8

Abroad 20.7 10.5 10.4 11.8 10.3 7.0 9.5 6.3

Government final consumption expenditure 4.9 5.5 6.9 7.1 3.0 7.8 1.7 7.6

Gross fixed capital formation -16.8 17.1 19.1 9.9 11.9 21.8 14.7 4.3

Private sector -22.4 7.3 8.3 -6.4 16.8 8.3 8.7 13.6

Government 24.1 62.0 51.7 166.3 -1.4 39.3 40.6 -29.3

Exports of goods -7.2 -1.9 23.2 21.7 29.7 17.4 16.4 10.0

Exports of services 47.4 30.1 6.8 5.6 0.7 3.7 8.5 11.1

Imports of goods 15.4 27.0 11.0 13.2 4.8 4.5 10.4 15.7

Imports of services 43.5 32.6 1.4 1.3 -7.1 0.6 1.6 1.1

Note: Starting the third quarter of 2010, chain volume measures are adopted to measure GDP change in real terms.

2012

2011 2010

2010 2011

2012

(38)

I. PRINCIPAL ECONOMIC INDICATORS OF THE WORLD AND MACAO

4. PRINCIPAL ECONOMIC INDICATORS OF MACAO

2013 2012 2012 2012 2013 2013

Q1 to Q2 Q2 Q3 Q4 Q1 Q2

A. External Merchandise Trade (Million MOP)

Total exports 6 960.0 6 970.9 8 159.7 4 595.0 1 971.2 2 203.0 2 010.2 2 339.0r 2 256.0 14.4

Textiles and garments 1 627.3 1 339.0 1 053.4 434.4 267.8 264.6 236.3 211.6r 222.8 -16.8

Other products 5 332.7 5 631.9 7 106.3 4 160.6 1 703.4 1 938.4 1 773.9 2 127.4r 2 033.2 19.4

Total imports 44 118.4 62 288.9 70 927.8 38 571.7 17 267.0 17 758.3 18 823.8 18 683.8r 19 888.0 15.2

Trade balance -37 158.4 -55 318.0 -62 768.1 -33 976.8 -15 295.9 -15 555.3 -16 813.6 -16 344.8r -17 632.0 -15.3 B. Gaming and tourism

Gross gaming revenue (excluding gratuities)(Million MOP) 189 588 269 058 305 235 172 018 74 670 74 854 81 115 85 600 86 419 15.7

y-on-y % change 57.5 41.9 13.4 15.2 13.3 6.1 9.9 14.8 15.7

Visitor arrivals('000) 24 965.4 28 002.3 28 082.3 14 142.2 6 635.4 7 287.0 7 217.6 7 076.4 7 065.8 6.5

Average length of stayb (days) 0.9 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 -d

Per capita spending of visitors (MOP) 1 518 1 619 1 864 .. 1 713 1 822 2 019 2 046 1 973 15.2

Hotel occupancy rate (%) 79.8 84.1 83.1 79.6 80.1 84.3 84.6 79.6 79.7 -0.4a

C. Construction and real estate

Expenditure on public works (Million MOP) 4 274.9 7 666.0 12 536.5 717.2 2 175.3 2 129.6 7 427.5 10.0 707.2 -67.5 Private sector construction

ΓΓ New buildings - no. of units 870 2 159 1 592 1 274 677 392 482 154 1 120 65.4

ΓΓ New buildings - gross floor area ('000 m²) 184 367 304 698 119 80 94 34 664 459.0

ΓΓ Completion of Buildings - no. of units 4 527 1 387 2 558 851 890 1 573 59 273 578 -35.1

ΓΓ Completion of Buildings - gross floor area ('000 m²) 1 272 1 163 1 568 485 938 613 8 399 87 -90.8

No. of building units transacted 29 617 27 624 25 419 11 937 7 845 6 766 7 216 5 423 6 514 -17.0

Value of building units transacted (Million MOP) 56 753.6 76 255.1 100 905.5 59 687.8 31 052.4 26 926.1 31 220.2 25 688.1 33 999.7 9.5 D. Transport (tonne)

Γ Seaborne containerised cargo 178 380 182 959 207 280 90 271 55 303 48 641 53 351 45 191r 45 080 -18.5

Γ Containerised land cargo 45 718 35 093 30 681 10 958 7 946 6 798 6 664 4 409r 6 549 -17.6

Γ Air cargo 52 166 39 524 27 794 12 502 6 902 6 794 7 647 5 984 6 517 -5.6

E. Consumption and Prices

Inflation rate (%) 2.8 5.8 6.1 5.3 6.6 6.0 5.6 5.4 5.1 ..

Composite Consumer Price Index (4/2008-3/2009=100) 104.2 110.3 117.0 121.8 116.7 117.7 119.0 120.9 122.7 5.1

Retail sales turnover (Million MOP) 30 642 43 479 52 961 31 484 12 842 12 479 14 405 15 710r 15 774 22.8

F. Labour force

Unemployment rate (%) 2.8 2.6 2.0 .. 2.1 2.0 1.9 1.9 1.8 -0.3a

Median monthly employment earnings ('000 MOP) 9.0 10.0 11.3 .. 11.0 11.7 12.0 12.0 12.0 9.1

Non-resident workers in Macao (end-period) 75 813 94 028 110 552 .. 102 557 109 038 110 552 114 716 121 194 18.2 G. Public accounts (Million MOP)

Total revenue 88 488.1 122 972.3 144 994.5 73 856.5 32 004.0 32 266.1 35 605.8 34 520.9 39 335.6 22.9

Tax revenue from gaming 68 776.1 99 656.4 113 377.7 64 904.8 28 746.6 28 000.4 28 883.0 31 216.8 33 688.0 17.2

Total expenditure 38 393.9 45 593.3 54 012.6 17 073.0 15 587.5 10 686.2 24 378.1 6 367.1 10 705.9 -31.3

Balance 50 094.1 77 379.0 90 981.9 56 783.6 16 416.6 21 579.9 11 227.6 28 153.8 28 629.7 ..

H. Money and finance (end-period, Million MOP)

Γ Narrow money supply (M1) 34 729.7 36 243.3 47 621.8 51 950.3 38 719.9 40 586.3 47 621.8 51 207.8 51 950.3 34.2

Γ Broad money supply (M2) 243 053.8 297 963.9 374 931.0 396 394.2 321 473.6 348 198.6 374 931.0 391 112.8 396 394.2 23.3

Γ Resident deposits 237 639.4 291 595.1 367 261.7 388 064.6 314 448.0 340 708.5 367 261.7 382 956.0 388 064.6 23.4

Γ Domestic credit to the private sector 130 676.9 167 855.8 198 701.9 226 647.6 180 024.6 191 593.8 198 701.9 211 007.8 226 647.6 25.9 Γ Net foreign assets 333 837.7 425 292.6 482 694.1 475 511.4 388 684.9 433 036.2 482 694.1 450 722.2r 475 511.4 22.3 Foreign exchange reserves c 190 186.8 272 369.4 132 536.2 127 016.1 134 547.6 132 748.1 132 536.2 129 917.6r 127 016.1 -5.6 I. Others

ΓNew incorporations 2 991 3 405 3 612 2 134 949 992 790 988 1 146 20.8

ΓCompanies in dissolution 492 511 501 273 131 121 119 129 144 9.9

ΓConsumption of electricity (Million kWh) 3 655.5 3 856.5 4 204.8 2 025.5 1 138.3 1 260.1 985.4 873.1 1 152.3 1.2

a Percentage points.

b Data for 2010 are obtained by statistical extrapolation. Starting from 2011, data are provided by the Public Security Police Forece.

c According to the Fiscal Reserve Act that came into effect on 1 January 2012, the fiscal reserves and foreign exchange reserves are managed under separate accounts.

The official transfer of relevant assets was made in February 2012 d day.

2010 2011 2012

2013 Q2 year-on-year

% change

(39)

II. EXTERNAL MERCHANDISE TRADE

1. PRINCIPAL STATISTICS ON EXTERNAL MERCHANDISE TRADE

2013 2012 2012 2012 2013 2013

Q1 to Q2 Q2 Q3 Q4 Q1 Q2

A. Total external trade Million MOP 51 078.4 69 259.8 79 087.4 43 166.7 19 238.2 19 961.3 20 834.0 21 022.8r 22 144.0

y-on-y % change 14.6 35.6 14.2 12.7 17.4 9.0 5.2 10.3r 15.1

B. Total exports Million MOP 6 960.0 6 970.9 8 159.7 4 595.0 1 971.2 2 203.0 2 010.2 2 339.0r 2 256.0

y-on-y % change -9.3 0.2 17.1 16.4 10.6 33.3 4.8 18.4r 14.4

Γ1. Domestic exports Million MOP 2 389.8 2 390.2 2 285.0 1 009.6 604.2 575.5 532.1 458.8r 550.8

y-on-y % change -19.6 0# -4.4 -14.2 1.1 -3.4 -15.7 -19.9r -8.8

Γ2. Re-exports Million MOP 4 570.2 4 580.7 5 874.7 3 585.4 1 367.0 1 627.5 1 478.1 1 880.2r 1 705.2

y-on-y % change -2.8 0.2 28.2 29.5 15.4 54.0 14.9 34.1r 24.7

C. Total imports Million MOP 44 118.4 62 288.9 70 927.8 38 571.7 17 267.0 17 758.3 18 823.8 18 683.8r 19 888.0

y-on-y % change 19.6 41.2 13.9 12.3 18.2 6.6 5.3 9.4r 15.2

D. Trade balance Million MOP -37 158.4 -55 318.0 -62 768.1 -33 976.8 -15 295.9 -15 555.3 -16 813.6 -16 344.8r -17 632.0 (Exports - Imports)

E. Exports/Imports ratio 15.8 11.2 11.5 11.9 11.4 12.4 10.7 12.5r 11.3

F. External merchandise trade index (2011=100) Γ1. Exports

ΓΓValue index index 99.8 100.0 117.1 132.3 113.1 126.4 115.3 134.3 130.4

y-on-y % change -9.4 0.2 17.1 16.9 10.6 33.3 4.7 18.5 15.3

ΓΓUnit value index index 91.8 100.0 100.7 101.1 99.7 99.8 101.7 102.7 99.4

y-on-y % change 3.0 8.9 0.7 0.5 -1.3 -1.2 1.4 1.1 -0.3

ΓΓQuantum index index 108.7 100.0 116.3 131.0 113.4 126.7 113.4 130.8 131.2

y-on-y % change -12.0 -8.0 16.3 16.4 11.9 34.9 3.4 17.2 15.7

Γ2. Imports

ΓΓValue index index 70.8 100.0 113.9 125.5 110.9 114.0 120.9 122.1 129.0

y-on-y % change 19.6 41.2 13.9 13.8 18.2 6.5 5.3 11.3 16.3

ΓΓUnit value index index 92.5 100.0 103.0 103.8 103.4 102.7 104.0 104.3 103.3

y-on-y % change 4.0 8.1 3.0 1.2 3.5 2.3 2.4 2.5 -0.1

ΓΓQuantum index index 76.6 100.0 110.6 121.0 107.2 111.1 116.2 117.1 124.8

y-on-y % change 15.0 30.5 10.6 12.7 14.2 4.2 2.8 8.7 16.4

Γ3. Terms of trade index a index 99.3 100.0 97.7 97.4 96.4 97.2 97.8 98.5 96.8

y-on-y % change -0.9 0.7 -2.3 -0.7 -4.6 -3.3 -0.9 -1.2 0.4

a Terms of trade index = Unit value index of exports / Unit value index of imports × 100.

2010 2011 2012

參考文獻

相關文件

In the first three quarters of 2019, visitor arrivals and package tour visitors grew by 17.0% and 4.2% respectively year-on-year; the average length of stay of visitors went down by

In addition, Gross Value Added and Gross Fixed Capital Formation of the sector soared by 36.4% and 88.3% year-on-year.. In addition, seating capacity of the hotel-operated food

In the third quarter of 2016, the economy of Macao expanded by 4.0% year-on-year in real terms, the first quarterly growth recorded over the past two years, attributable to a

For the whole year of 2013, value added of the above-scale industries rose by 9.7% year-on-year, down by 0.3 percentage points from the increase a year earlier; fixed asset

Looking ahead for the fourth quarter, in terms of domestic demand, increase in total investment is likely to sustain; private consumption expenditure is expected to see steady growth

Gross Domestic Product (GDP) for the first quarter of 2012 expanded by 2.0% year-on-year and 1.9% quarter-to-quarter; the increment was driven by private consumption

In the third quarter of 2013, visitor arrivals increased by 6.6%; per-capita spending of visitors grew by 4.6%; exports of gaming services rose by 13.3% in real terms; guests of

The economy of Macao expanded by 21.1% in real terms in the third quarter of 2011, attributable to the increase in exports of services, private consumption expenditure and