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Macau GDP down 8.9% in the first quarter of this year, gaming down 25.1%

Pierce Chan by Pierce Chan
Fri 27 May 2022 at 20:02
Macau shop owners describe best business in months as Golden Week visitor numbers surge
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According to the Macau Statistics and Census Service (DSEC), Macau’s gross domestic product (GDP) fell by 8.9 percent in real terms in the first quarter of 2022, with “exports of gaming services” falling by 25.1 percent.

This is the second consecutive quarter of negative GDP growth, which fell by 4.4% in the fourth quarter of 2021.

While visitor arrivals rose 8% year-on-year in the first quarter of this year, exports of other tourism services rose only 1.9% due to a drop in overnight stays, while “overall exports of services” fell 4.7%.

DSEC expressed that “the economic downturn is due to the weakening of overall demand.”

The uncertain economic outlook and weak employment market has led to a decline in spending on durable and semi-durable goods, dragging down household final consumption expenditure by 2.2% year-on-year.

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Tags: DSECexports of gaming servicesfirst quarterGDP
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Pierce Chan

Pierce Chan

With more than five years’ experience working as a journalist in Macau, Pierce is an experienced media operator with strong skills in news writing and editing. He previously worked with Exmoo, first as a reporter covering government, gaming and tourism-related stories, then as a Deputy Assignment Editor helping set the agenda of the day. Pierce is a graduate of the University of Macau.

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