Macau’s gaming and tourism sector played a key role in driving Gross Domestic Product (GDP) growth in the three months to 30 June 2018, which rose 6.0% year-on-year in real terms.
The Statistics and Census Service (DSEC) said that the GDP boost was due to the steady growth in exports of services and private consumption, despite growth slowing compared with the 9.2% increase in 1Q18.
External demand was a key contributing factor, particularly from the exports of good which rose 30.0% and the exports of gaming services and tourism services, which increased by 13.7% and 13.0% respectively. Imports of goods increased by 10.0%.
Private investment in fixed assets fell by 18.9% year-on-year due to the successive completion of large-scale tourism and entertainment facilities, including MGM COTAI, and residential buildings.
For the first half of 2018, the economy of Macau grew by 7.6% year-on-year in real terms, with the exports of goods up 20.3%.
Exports of gaming services and tourism services rose by 15.1% and 16.3% respectively over the six months to 30 June 2018.
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