Macau GDP falls as gaming services exports plunge 97%
According to figures released by the Statistics and Census Service, the drop in tourism and gaming services exports impacted heavily on GDP.
Macau.- Gross domestic product (GDP) is showing the impact of the Covid-19 crisis, falling 67.8 per cent for the second quarter.
The figures released by the Statistics and Census Service on Friday revealed that exports of gaming services and other tourism services fell by 97.1 per cent and 93.9 per cent respectively, year-on-year.
The latest results take the cumulative decline in Macau GDP for the calendar year to June 30 to 58.2 percent.
Casino gross gaming revenue (GGR) fell by 95.6 per cent year-on-year in the second quarter, and 77.4 per cent year-on-year for the first half.
During the second quarter, the Macau government’s final consumption expenditure rose by 14 per cent year-on-year, an acceleration from the 5-per cent growth seen in the first quarter.
The second quarter saw an increase in public spending due to the loosening of measures to contain the spread of the Covid-19.
An injection of MOP1.62 billion (US$203 million) under the consumption subsidy scheme was recorded in government final consumption expenditure for the three months to June 30.
