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10-04-2024, 09:57 AM
https://tradingeconomics.com/macau/gdp-growth-annual
Macau’s economy grew 86.4% year-on-year in Q4 of 2023, the fourth consecutive quarter of expansion, following a 120.4% rise in the previous period. Exports of services increased at a lower rate (184.3% vs 292.4% in Q3), driven by gaming services (430.8%) and other tourism services (130.2%). On the other hand, imports of goods declined (-0.1% vs 23.2%) while imports of services grew less (27.7% vs 56.3%). Additionally, changes in inventories fell (-7.3% vs 17.2% in Q3). Meanwhile, private consumption rose at a slower rate (16.6% vs 28.3%) while government expenditure contracted (-17.7% vs -23.5%). Gross fixed capital slowed (10% vs 47.7%).
Considering full 2023, the economy of Macau soared 80.5%, rebounding from a 21.4% contraction in 2022, following the gradual resumption of local economic activity and exports of services after the end of covid curbs.
Macau’s economy grew 86.4% year-on-year in Q4 of 2023, the fourth consecutive quarter of expansion, following a 120.4% rise in the previous period. Exports of services increased at a lower rate (184.3% vs 292.4% in Q3), driven by gaming services (430.8%) and other tourism services (130.2%). On the other hand, imports of goods declined (-0.1% vs 23.2%) while imports of services grew less (27.7% vs 56.3%). Additionally, changes in inventories fell (-7.3% vs 17.2% in Q3). Meanwhile, private consumption rose at a slower rate (16.6% vs 28.3%) while government expenditure contracted (-17.7% vs -23.5%). Gross fixed capital slowed (10% vs 47.7%).
Considering full 2023, the economy of Macau soared 80.5%, rebounding from a 21.4% contraction in 2022, following the gradual resumption of local economic activity and exports of services after the end of covid curbs.
