Macau’s Gross Domestic Product (GDP) grew by 117.5% year-on-year in real terms in the second quarter of 2023, with the gaming and tourism sectors driving the economic recovery.
According to the Statistics and Census Service (DSEC) Q2 represented the highest single-quarter growth rate recorded since the second quarter of 2021. Exports of gaming services and other travel services increased by 463.6% and 157.5% respectively, leading to a 211.9% year-on-year increase in the total exports of services.
Imports of services and goods grew by 49.8% and 0.1% year-on-year respectively, while exports of goods declined by 32.8% year-on-year. Domestic demand rose by 18.4% year-on-year, mainly driven by an increase in gross fixed capital formation, which rose by 47.8% year-on-year.