Macau saw a smaller decline in the final quarter of 2020 than in preceding quarters.
Macau.- The Macau Statistics and Census Service has reported that Macau’s GDP contracted by 45.9 per cent year-on-year in the fourth quarter.
Exports of tourism services declined by 48.9 per cent, which represents an improvement compared to a 87.9 per cent fall in the third quarter, as visitor arrivals climbed 150.3 per cent quarter-on-quarter.
The Covid-19 pandemic continues to have a significant impact on Macau’s economy, which is mainly driven by exports of services.
Macau’s fourth-quarter exports of gaming services fell by 70.3 per cent.
For full-year 2020, the economy declined by 56.3 per cent in real terms.
Macau casinos saw gross gaming revenues of MOP$7.31bn (US$914.5m) in February, down 8.9 per cent compared to January.