Macau economy grows 1.6 pct in 18Q3

Macau recorded a 1.6 percent increase in GDP in the third quarter of 2018, with slower paced growth due mainly to a slowdown in growth in exports of services.

According to the Statistics and Census Service (DSEC), while service trade was the major driving force for economic growth, up 6.3 percent.

This was boosted by an increase in visitor arrivals and spending.

However, compared to the second quarter, which registered a year-on-year growth of 11.9 percent, growth was indeed slower.

DSEC noted that exports of gaming services grew by 5.8 percent and other tourism services grew by 11.4 percent.

With regards to the first three quarters of 2018, Macau’s GDP expanded 5.6 percent in real terms.

Exports of gaming services went up 11.7 percent while other tourism services grew 12.6 percent.