Macau GDP down 8.9% in Q1 2022, gaming services exports down 25.1% – DoNews

DoNews May 28 (Ding Fan) According to the Statistics and Census Bureau of the Macau Special Administrative Region Government, Macau’s GDP in the first quarter of 2022 fell by 8.9% year-on-year in real terms due to weaker overall demand. Exports of services fell by 4.7% year-on-year, among which exports of gaming services fell by 25.1%, while exports of other tourism services rose by 1.9%; exports of goods rose by 56.8% year-on-year, imports of goods and services rose by 29.0% and 2.8% respectively; dragged down by the decline in private consumption , domestic demand fell 1.2% year-on-year.

Due to the uncertain economic outlook and a weak job market, household spending on durable and semi-durable goods fell, dragging down local final consumption expenditure by 2.2% year-on-year; affected by the epidemic in the mainland, final consumption expenditure in other places fell by 10.8%; overall personal consumption It fell 2.7% year-on-year.

According to statistics, government final consumption expenditure fell by 2.0% year-on-year, of which net purchases of goods and services fell by 6.9%, while compensation of employees rose by 1.3%. Public investment rose by 40.6%, mainly due to the increase in construction investment in public housing, the fourth sea-crossing bridge and the outlying island medical complex.