Macau’s gross domestic product (GDP) shrank by 13.3 percent year-on-year in real terms in the first quarter, the Statistics and Census Bureau (DSEC) said in a statement yesterday.
The bureau attributed the decrease in the city’s economic output mainly to “the continuous decline in exports of services and decrease in investment.”
According to the statement, external demand showed no sign of improvement and exports of goods and services fell by 24.6 percent and 13.7 percent respectively.
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