The SAR’s provisional gross domestic product (GDP) totalled approximately 208 billion patacas (US$25.56 billion) in the first six months of this year, according to figures published yesterday by the Macau Economic Association (MEA).
In its report, the MEA said this figure represents a year-on-year growth of around 2.8 percent or a recovery of almost 90 percent when measured against the same period in 2019.
The organisation noted that even though Macao’s economy faced the impact of weakening external demand, its various indicators, including visitor arrival, hotel occupancy and employed population, remained stable.
When final figures for the second quarter are in, the MEA believes that Macao’s GDP will range somewhere between 105 billion patacas (US$12.9 billion) and 110 billion patacas (US$13.51 billion). This estimate would mark a year-on-year jump of approximately 7 percent or a recovery of nearly 91 percent in comparison to the second quarter of 2019.
The MEA also shared the results for Maco’s economic prosperity index between May and June, which achieved “stable” ratings of 6.1 and 5.9 points.
Scored out of 10 points, the index is calculated by assessing 15 indicators, including gross gaming revenue (GGR), the consumer price index and unemployment rate.
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According to the organisation, Macao’s economy faced various complexities and changes in May and June, although the daily GGR over these two months exceeded market expectations, reaching 684 million patacas (US$84.08 million) in May and 702 million patacas (US$86.25 million) in June.
Other indicators that performed strongly during this two-month period include visitor arrivals and hotel guest numbers, which reached a daily average of 109,000 and 39,600 people in May.
Similarly, the M2 money supply in May reached a record breaking 815.7 billion patacas (US$100.27 billion), up by 7.9 percent year-on-year.
By contrast, the residential property price index fell to 200.7 points between March and May, while the loan-to-deposit ratio of Macao residents dipped to its lowest level in nearly 10 years, plummeting to 49.3 percent at the end of May.
Looking ahead, the MEA said that with the mainland’s assistance, Macao’s economy is expected to remain stable in the second half of 2025, despite the many external uncertainties still present.
Meanwhile, the territory’s economic prosperity index between July and September is forecasted to reach a “stable” rating of around 5.8 and 5.9 points.
