Macau's gross domestic product (GDP) fell 39.3 percent year on year in real terms in the second quarter of this year, the Statistics and Census Bureau (DSEC) announced today.
It was the third consecutive quarter of year-on-year negative GDP growth. GDP fell 8.9 percent in the first quarter of this year and 4.4 percent in the fourth quarter of last year.
A DSEC statement blamed Macau's recent COVID-19 outbreak for the decline, pointing out that the number of visitor arrivals dropped 27.5 percent in the second quarter amid the pandemic, with that of overnight visitors declining 47.0 percent. As a result, according to the bureau, exports of services decreased 48.6 percent year on year, of which exports of gaming services and exports of other tourism services fell 69.6 percent and 41.4 percent respectively. Domestic demand shrank 12.2 percent year on year.
GDP in nominal terms amounted to 37.5 billion patacas in the second quarter.
