Macau's economy shrank 45.9 percent year-on-year in the final quarter of 2020, after a 63.8 percent plunge in the previous period. It was the eighth consecutive contraction in the economy but the softest in a year, amid an expansion in inventories (19.1 percent vs -6.7 percent in Q3) and a smaller contraction in private consumption (-10.2 percent vs 18.3 percent). Meantime, government spending continued to grow (8.4 percent vs 17.8 percent), mainly due to the economic relief and pandemic prevention measures. Regarding trade, total exports fell at a slower pace (-46.2 percent vs -75.0 percent), as visitor arrivals from Mainland China continued to recover, while total imports rebounded (15.0 percent vs -1.2 percent). In contrast, gross fixed capital formation shrank at a steeper pace (-12.3 percent vs -6.2 percent). Considering full 2020, output contracted 56.3 percent, after a 4.7 percent decline in 2019. source: Statistics and Census Service, Government of Macao SAR

GDP Annual Growth Rate in Macau averaged 4.88 percent from 2002 until 2020, reaching an all time high of 54.30 percent in the second quarter of 2004 and a record low of -67.90 percent in the second quarter of 2020. 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 May of 2021.

GDP Annual Growth Rate in Macau is expected to be 25.00 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 15.00 in 12 months time. In the long-term, the Macau GDP Annual Growth Rate is projected to trend around 5.00 percent in 2022, according to our econometric models.

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Macau GDP Annual Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
-45.90 -63.80 54.30 -67.90 2002 - 2020 percent Quarterly


Calendar GMT Actual Previous Consensus TEForecast
2020-05-30 01:00 PM Q1 -48.7% -8.1% -10.3%
2020-08-21 09:50 AM Q2 -67.8% -48.7% -12%
2020-11-20 10:00 AM Q3 -63.8% -68.0% -15%
2021-03-05 09:50 AM Q4 -45.9% -63.8% -35%
2021-05-30 10:00 AM Q1 -45.9%
2021-08-21 10:00 AM Q2
2021-11-20 10:00 AM Q3


News Stream
Macau Economy Shrinks at Softest Pace in 2020
Macau's economy shrank 45.9 percent year-on-year in the final quarter of 2020, after a 63.8 percent plunge in the previous period. It was the eighth consecutive contraction in the economy but the softest in a year, amid an expansion in inventories (19.1 percent vs -6.7 percent in Q3) and a smaller contraction in private consumption (-10.2 percent vs 18.3 percent). Meantime, government spending continued to grow (8.4 percent vs 17.8 percent), mainly due to the economic relief and pandemic prevention measures. Regarding trade, total exports fell at a slower pace (-46.2 percent vs -75.0 percent), as visitor arrivals from Mainland China continued to recover, while total imports rebounded (15.0 percent vs -1.2 percent). In contrast, gross fixed capital formation shrank at a steeper pace (-12.3 percent vs -6.2 percent). Considering full 2020, output contracted 56.3 percent, after a 4.7 percent decline in 2019.
2021-03-05
Macau Q3 Economy Shrinks at Second Fastest Pace on Record
Macau's economy shrank 63.8 percent year-on-year in the three months to September of 2020, after an upwardly revised 68 percent plunge in the previous period, following the easing of travel restrictions for Mainland residents to visit Macao. It was the seventh consecutive quarter of contraction in the economy and the second steepest yearly contraction on record, mainly due to demand-side shocks caused by the coronavirus pandemic. Regarding net trade, total exports slumped 75 percent (vs -90.1% in Q2), with services plunging 87.5 percent (vs -92.3% in Q2) while exports of goods soaring 252.2 percent (vs -26.4% in Q2). Meantime, total imports fell by 1.2 percent ( vs -34.4% in Q2). At the same time, private consumption fell by 16.7 percent (vs -16.5% in Q2), while gross fixed capital formation contracted less (-5.6% vs -8.1%). On the other hand, government spending expanded faster (18.6% vs 14.0%).
2020-11-20
Macau Economy Shrinks at Fresh Record Pace
Macau's economy shrank 67.8 percent year-on-year in the three months to June of 2020, following a 48.7 percent drop in the previous period. It was the sixth consecutive quarter of contraction in the economy and the steepest yearly contraction on new record, mainly due to demand-side shocks caused by the coronavirus pandemic. Regarding net trade, total exports slumped 90.1 percent, with services plunging 92.3 percent (vs -60 percent in Q1) and exports of goods declining 26.4 percent (vs -23.5 percent in Q1). Meantime, total imports fell 34.4 percent ( vs -30.7 percent in Q1). At the same time, private consumption decreased more (-16.5 percent vs -15.2 percent in Q1). Meanwhile, gross fixed capital formation continued to decline (-8.1 percent vs -37.2 percent). On the other hand, government spending expanded further (14.0 percent vs 5.0 percent).
2020-08-21
Macau Q1 Economy Shrinks at Record Pace
Macau's economy shrank 48.7 percent year-on-year in the three months to March of 2020, following an 8.1 percent fall in the previous period. It was the fifth consecutive quarter of contraction and the steepest yearly contraction on record since the series began in 2002, mainly due to demand-side shocks caused by the coronavirus pandemic. Regarding net trade, total exports plunged 58.4 percent, with services tumbling 60 percent (from -7.5 percent in Q4) and exports of goods falling 23.5 percent (from -6.2 percent in Q4). Meantime, total imports dropped 30.7 percent. At the same time, private consumption slumped (-15.2 percent vs 2.7 percent in Q4). Also, gross fixed capital formation dropped at a much faster pace (-37.2 percent vs -14.5 percent). On the other hand, government spending continued to expand (5.0 percent vs 1.9 percent).
2020-05-30

Macau GDP Annual Growth Rate
Macau, a former Portuguese colony, has become a special administrative region of China since 1999. After opening of its borders to Chinese citizens and liberalization of the gaming industry in 2001, it has become the world’s largest casino market. As a result, gaming accounts for 50 percent of GDP, 84 percent of fiscal revenues and around 21 percent of the workforce. Given Macau’s semi-autonomous status inside China, large gaming industry and relaxed tax laws, it has become a base for wealthy investors especially from Mainland China. Attempts to diversify the economy while limiting casino growth have been fairly unsuccessful.