Information on Economy and Trade
Retail Sales Survey for the 4th Quarter 2022
Information from the Statistics and Census Service (DSEC) indicated that value of retail sales for the fourth quarter of 2022 totalled MOP14.80 billion, down by...
MICE Statistics for the 4th Quarter 2022
Source: DSEC Information from the Statistics and Census Service (DSEC) indicated that a total of 197 MICE events were held in Macao in the fourth...
Visitor Expenditure Survey for the 4th Quarter 2022
Source： DSEC Information from the Statistics and Census Service (DSEC) indicated that total spending of visitors (excluding gaming expenses) dropped by 23.5% year-on-year to MOP4.83...
Company Statistics for the 4th Quarter 2022
Source : DSEC Information from the Statistics and Census Service (DSEC) indicated that a total of 1,120 new companies were incorporated in the fourth quarter...
Visitor Arrivals for December 2022
Source : DSEC Information from the Statistics and Census Service (DSEC) indicated that visitor arrivals rose by 6.2% month-on-month to 389,390 in December 2022; yet,...
External Merchandise Trade Statistics for December 2022
Source：DSEC Information from the Statistics and Census Service (DSEC) indicated that total merchandise export amounted to MOP824 million in December 2022, down by 20.0% year-on-year....
MICE Statistics for the 3rd Quarter 2022
Source：DSEC Information from the Statistics and Census Service (DSEC) indicated that a total of 70 MICE events were held in Macao in the third quarter...
Retail Sales Survey for the 3rd Quarter 2022
Source：DSEC Information from the Statistics and Census Service (DSEC) indicated that, owing to the impacts of the coronavirus pandemic, value of retail sales for the...
Direct Investment Statistics 2021
Source：DSEC Information from the Statistics and Census Service (DSEC) indicated that inward direct investment flows in Macao totalled MOP 38.20 billion in 2021. Analysed by...
Industrial Structure of Macao 2021
Source：DSEC Industrial structure reflects the relative importance of various industries in terms of their respective value-added contribution to the economy. Value added refers to the...
, i.e. the value of goods and services produced by the economic activity, less the value of goods and services consumed in the production process. Sectors of industries are classified as primary (e.g. fishing, agriculture and animal husbandry), secondary (e.g. mining & quarrying, industrial production and construction) and tertiary (i.e. service sector, such as wholesale & retail trade, restaurants & similar activities, financial activities and gaming).
The economy of Macao, which is heavily reliant on tourism, was hit hard by the pandemic in 2020. The pandemic situation, despite remaining unstable in 2021, has improved as compared to 2020. In view of a rebound in demand, Gross Value Added of all economic activities increased by 27.1% year-on-year in real terms.
<u>Changes in Industrial Structure</u>
Gross Value Added of the secondary sector rose by 5.2% in real terms in 2021, and yet its relative importance to total Gross Value Added dropped by 1.0 percentage point to 7.7%. The share of the Construction sector decreased by 0.6 percentage points to 5.8%, and that of the Electricity, Gas & Water Supply sector fell by 0.3 percentage points to 1.1%. Meanwhile, the share of the Manufacturing sector held steady year-on-year.
Gross Value Added of the tertiary sector surged by 29.1% in real terms, with its relative importance to total Gross Value Added rising by 1.0 percentage point to 92.3%. The share of non-gaming services dropped by 3.6 percentage points year-on-year to 66.5%, while that of Gaming & Junket Activities grew by 4.6 percentage points to 25.8%.
<u>Primary Distribution of Income</u>
Primary distribution of income refers to the distribution of Gross Domestic Product (GDP) among the three sectors, namely the government (taxes on production and imports), employers (operating surplus) and employees (compensation of employees).
Taxes on Production & Imports, Operating Surplus and Compensation of Employees amounted to MOP42.3 billion, MOP88.2 billion and MOP116.3 billion respectively in 2021, accounting for 17.2%, 35.7% and 47.1% of GDP. Compensation of Employees recorded an increase of 0.9% year-on-year; as its growth was smaller than the rise in Taxes on Production & Imports and Operating Surplus, the relative importance of Compensation of Employees to GDP decreased by 11.1 percentage points year-on-year. Meanwhile, the shares of Operating Surplus and Taxes on Production & Imports rose by 8.9 percentage points and 2.2 percentage points respectively.
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<u>Changes in Gross Value Added</u>
Gross Value Added of the secondary sector went up by 5.2% year-on-year in real terms in 2021. Gross Value Added of the Construction sector rose by 2.5%, underpinned by the growth in receipts from construction works performed which was larger than the rise in intermediate consumption. Gross Value Added of the Manufacturing sector expanded by 25.4% year-on-year in real terms, driven by the growth of Manufacture of Food Products & Beverages and Manufacture of Cement & Concrete.
Gross Value Added of the tertiary sector leapt by 29.1% year-on-year in real terms, owing to an upsurge of 51.8% in Gross Value Added of Gaming & Junket Activities. All economic activities, except Real Estate Activities and Renting & Business Activities, registered a pickup in Gross Value Added, with Hotels & Similar Activities (+343.5%), Wholesale & Retail Trade (+75.2%) and Financial Activities (+52.9%) recording relatively large growth.
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Related Information: <a id="plcRoot_Layout_zoneContent_pageplaceholder_partPlaceholder_Layout_zoneLeft_DSECNewsDetails_RadGrid1_ctl00_ctl04_HyperLink2" href="http://www.dsec.gov.mo/getAttachment/34e88245-abcb-4d88-860c-33b31ff06cc9/E_PIBP_FR_2021_Y.aspx">Industrial Structure of Macao 2021</a>%0D%0DReference Link : %0Dhttps://www.ipim.gov.mo/en/information-on-economy-and-trades/industrial-structure-of-macao-2021/){kind=link}