Macau GDP slump 8.1 percent year-on-year in the three months to December of 2019, following a downwardly revised 4.4 percent drop in the previous period. It was the fourth consecutive quarter of contraction and the steepest drop since the first quarter 2016, as both household (2.7 percent vs 2.8 percent in Q3) and government spending (1.9 percent vs 4.3 percent) eased. Meanwhile, gross fixed capital formation dropped at a much faster pace (-14.5 percent vs -8.5 percent). Regarding net trade, totals exports declined 7.4 percent, with services down 7.5 percent (from -4.7 percent in Q3) and exports of goods fell 6.2 percent (from 0.5 percent in Q3). Meantime, total imports went up 1.0 percent. For 2019 full year, the economy shrank 4.7 percent year-on-year, reversing from a 5.4 percent expansion in 2018.
GDP Annual Growth Rate in Macau averaged 8.41 percent from 2002 until 2019, reaching an all time high of 54.30 percent in the second quarter of 2004 and a record low of -24.60 percent in the second quarter of 2015. This page provides - Macao GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Macau GDP Annual Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on April of 2020.
GDP Annual Growth Rate in Macau is expected to be -10.30 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Macau to stand at 1.80 in 12 months time. In the long-term, the Macau GDP Annual Growth Rate is projected to trend around 0.10 percent in 2021 and 0.50 percent in 2022, according to our econometric models.