Results of Q2 2007 estimate of expenditure-based GDP

04 Sep '07

3 min read

The Statistics and Census Service (DSEC) released the expenditure-based GDP and the related information for the second quarter of 2007. The rates of change mentioned in this press release refer to the year-on-year change in real terms, unless otherwise specified.

In the second quarter of 2007, the gaming and tourism sector continued to perform well. Gross gaming receipts (excluding gratuities) grew significantly by 48.9% in nominal terms compared with the same quarter of 2006. Total visitor spending (excluding gaming expenses) rose by 14.2% upon rises in the number of visitor arrivals and their per-capita spending.

Investment soared by 44.4% on the back of several large-scale construction projects in progress. However, exports of goods fell by 5.9%. Estimated from all relevant data, GDP for the second quarter and the first half of 2007 recorded real growth of 31.9% and 28.9% respectively, while that for the first quarter was revised upward to 25.8%.

In terms of major GDP components, private consumption expenditure in the second quarter of 2007 increased by 8.4%, lower than the 9.0% growth in the previous quarter. Household final consumption expenditure in the domestic market rose by 6.5%, while that abroad went up by 8.2%, with the expenditure in Mainland China amounted to MOP 576 million.

Government final consumption expenditure increased by 10.0%, up from the 1.1% increase in the previous quarter, of which compensation of employees and net purchases of goods and services went up by 9.5% and 11.5% respectively.

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