Macau's gross domestic product (GDP) rose by 80.5 percent year on year in real terms last year, the Statistics and Census Bureau (DSEC) has announced today.
A DSEC statement attributed the huge growth to the post-pandemic "gradual resumption of local economic activity and export of services".
The statement pointed out that last year's GDP returned to over 80 percent of the level in pre-pandemic 2019, "underpinned by exports of tourism services".
Per-capita GDP stood at 559,495 patacas (US$69,357 at today's exchange rate) last year, a year-on-year increase of 80.5 percent. The pataca, Macau's sole legal tender, is indirectly pegged to the US dollar via the HK dollar.
According to the statement, exports of gaming services and other tourism services surged by 343.7 percent and 127.9 percent year on year respectively, on account of an uplift of 394.9 percent in visitor arrivals.
Based on revised figures, Macau's GDP fell by 21.4 percent in 2022. Macau's economy was severely affected between 2020 and 2022 by the COVID-19 pandemic.
Last year's GDP at current prices stood at 379.5 billion patacas.
