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Macau’s GDP posts growth of 11.9 pct in 2013

Macau’s economy posted real growth of 11.9 percent in 2013, driven by performance of the tourism and gaming sector, whilst services exports rose by 12 percent, the Statistics and Census Bureau said Monday.

According to figures published Monday Macau’s Gross Domestic Product (GDP) rose to 413.5 billion patacas and per capita GDP rose to 697,500 patacas (around US$87,300), which puts the special autonomous region in second place in terms of highest per capita GDP in the world, according to a list published by the World Bank.

According to the Bureau Macau’s economic growth was mainly driven by 18.6 percent growth in gaming, 4.4 percent growth in the number of visitors and 13.7 percent growth in visitor expenditure. Other factors included an 11.8 percent rise in the number of hotel guests, 27.3 percent higher private investment and a 23 percent increase in retail sales.

In the fourth quarter of 2013 Gross Domestic Product (GDP) rose by 14.3 percent against the same quarter of 2012. Percentage rises for GDP in the first three quarters of 2013 were revised to 11.9 percent, 9.8 percent and 11.2 percent, respectively.

Economic growth for 2011 and 2012 was revised to 21.3 percent and 9.1 percent, respectively.

The Statistics and Census Bureau also said that the implicit GDP deflator, which measures overall variations in price, rose 8.1 percent in the fourth quarter of 2013 against the same quarter of 2012 and 7.6 percent in 2013, compared to the whole of 2012. (macauhub)

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