Macau’s gross domestic product is expected to increase by 7.7 per cent this year.<\/p>\n\n\n\n\n\n\n\n
Macau.- The University of Macau (UM)<\/strong> has released a report in which it suggests that Macau\u2019s gross domestic product (GDP) <\/strong>could grow by 7.7 per cent this year, despite global economic uncertainties.<\/p>\n\n\n\n The report also forecasts a 7.6 per cent hike in exports of services and a 3.1 per cent rise in private consumption expenditure. The inflation rate is expected to remain low at 1.1 per cent, while the overall unemployment rate could be 1.8 per cent, with the unemployment rate for locals at 2.3 per cent.<\/p>\n\n\n\n As for the government’s revenue, analysts forecast it could reach MOP111.8bn (US$14bn) mainly due to a stabilisation of the economy after the Covid-19 pandemic that deeply affected the city.<\/p>\n\n\n\n In the first nine months of 2024, Macau’s GDP was up 11.5 per cent in year-on-year terms at MOP301.0bn (US$37.4bn)<\/strong>. It was the first time since 2019 that January-to-October GDP surpassed MOP300bn. <\/p>\n\n\n\n Exports of gaming services rose by 28.4 per cent. However, exports of other tourism-related services declined by 6.1 per cent due to the high comparison base in the same period last year. Exports and imports of goods fell by 15.1 per cent and 8.3 per cent respectively.<\/p>\n\n\n\n In the third quarter, GDP was up 4.7 per cent year-on-year and reached 87.3 per cent of the third-quarter 2019 level. The growth was mainly driven by an 11.2 per cent rise in gaming-related exports. Exports of services rose by 1.3 per cent year-on-year while exports of other tourism services fell by 14.5 per cent. The implicit deflator of GDP, which measures overall price changes, increased by 1.5 per cent to 106.7.<\/p>\n\n\n\n