GDP grows 10.3 percent in Macau

New data showed that gross domestic product in Macau grew 10 percent during the first quarter of the year.

Macau.- Macau’s Statistics and Census Service revealed yesterday that the GDP (gross domestic product) increased 10.3 percent year-on-year in the first three months of the year, which means a third consecutive growth.

During the first quarter GDP recorded US$11.7 billion, and according to the bureau, it was influenced by the improving exports of services and investment, as well as a relatively lower base of comparison in the first quarter of last year, as reported by GGRAsia. These exports also increased 11.3 percent year-on-year. “We expect the current account surplus to increase to 28 percent of GDP in 2018, as gaming and tourism recover, remaining well above that of rating peers,” said ratings agency Moody’s Investors Service last week.

Gaming-related crime rate was up 15.2 percent to 424 in the city during the first quarter of 2017, partially due to a wave of gamblers introducing fake casino chips. Macau Secretary for Security Wong Sio Chak indicated that Macau Judiciary Police filed 3502 criminal reports in the first quarter of 2017.