The Secretary for Economy and Finance Leong Vai Tac has said that his cabinet is looking at Macau’s economic development in the coming years with both caution and optimism. He believes the city’s economy will continue to develop favorably, but recalled the central government’s advice that Macau’s top officials should be prepared to face the […]
Business
Consumer prices went up by 6.12 percent year-on year in November. The increase in the Consumer Price Index is the same as the one recorded in October. The Statistics and Census Service says the growth was once again driven by higher residential rentals and dearer charges for eating out. For the 12 months ended November […]
Macau and the central government Thursday signed an agreement on the almost complete liberalisation of trade in services between Macau and Guangdong province. Both sides inked the deal within the framework of the Mainland and Macau Closer Economic Partnership Arrangement (CEPA) set up in 2003. Thursday’s pact was signed by Secretary for Economy and Finance […]
The Macau economy is expected to contract by 4.0 percent in 2015 and return to positive growth in 2016 with a rate of 8.0 percent, after ending 2014 with growth of just 0.7 percent, according to forecasts from the Economist Intelligence Unit (EIU). The EIU analysts explain this year’s low economic growth and the fall […]
Macau’s imports of mobile phones leapt 55 percent year-on-year to 1.03 billion patacas in October, the Statistics and Census Bureau (DSEC) announced Monday. Mobile phone imports in the first 10 months increased 16 percent to 5.39 billion patacas. Gold jewellery imports dropped five percent to 779 million patacas in October. Imports of gold jewellery rose […]
Macau’s gross domestic product decreased by 2.1 percent year-on-year in real terms in the third quarter, the first negative quarterly growth in five years, the Statistics and Census Bureau (DSEC) has announced. According to a DSEC statement, the economic downturn in the third quarter “was triggered by a substantial decline in exports of services, of […]
Macau’s composite consumer price index (CPI) rose 6.81 percent year-on-year last month, the Statistics and Census Bureau (DSEC) said Wednesday. A DSEC statement attributed the hefty rise to rising housing rents and the higher cost of eating out. Last month saw “notable increases” in the price indices of housing and fuels (+12.47 percent) and food […]
Macau posted a trade deficit of 57 890 billion patacas (US$7.2 billion) from January to September, which was a year on year increase of 12 percent, the region’s Statistics and Census Bureau reported. In the first nine months of the year, Macau exported goods worth 7.29 billion patacas, up 8 percent from the same period […]
Local developer Liu Chak Wan, whose company paid about 1.42 billion patacas for two adjacent plots of land in Fai Chi Kei, said yesterday he expected the city’s property prices to remain “stable” for the next two years after which they would increase again. Liu, a member of the government’s top advisory Executive Council (ExCo), […]