Macau, China, July 31, 2026 (Lusa) - Macau's economy grew by 3.7% year-on-year in the first half of the year, a figure held back by a sharp slowdown in the second quarter (0.3%), following a 7.1% rise in the first three quarters, it was announced on Friday.
The gross domestic product (GDP) of the Macau Special Administrative Region (MSAR) reached 209.89 billion patacas (€22.64 billion) in the first half of the year, up 3.7% in real terms compared with the same period last year, driven by an increase in visitor numbers, according to preliminary results announced today by the territory's Statistics and Census Service (DSEC).
This performance is equivalent to 89.1% of the economic output for the corresponding half-year of 2019, prior to the Covid-19 pandemic, but is weighed down by the sharp slowdown in the region's economy during the second quarter.
Preliminary GDP figures for the period from April to June stood at 102.33 billion patacas (€11.04 billion), a result which translated into real economic growth of 0.3% in annual terms and, in this case, represented 87.9% of the economic output for the same quarter of 2019.
Macau's economy grew by 7.1% in the first quarter of 2026, driven by an increase in service exports and a significant rise in visitor numbers – the region's two largest GDP components – a performance that has shaped the figures for the first half of the year.
Performance in the first half of the year, broken down by the main components of GDP, was characterised by 7.2% growth in total exports of services between January and June, driven by year-on-year growth of around 9.0% in the number of visitor arrivals.
In terms of domestic demand, there was a year-on-year increase of 2.8% in private consumption expenditure, whilst government final consumption expenditure and gross fixed capital formation fell by 0.2% and 9.4%, respectively.
In the first three months of the year, total service exports grew by 12.8%, in line with the 13.7% rise in visitor arrivals, with exports of other tourism services increasing by 17.5% and those of gambling services by 13%.
Macau's tourism sector set a new all-time record between January and March 2026, welcoming 11.2 million visitors – a 13.7% increase compared with the same period in 2025 and exceeding pre-pandemic figures.
The International Monetary Fund (IMF) forecasts that Macau's economy will slow to 3.3% this year, as a result of reduced activity in the gambling sector and the prolonged period of high interest rates.
Macau's Gross Domestic Product (GDP) in 2025 grew by 4.7% in real terms, reaching a preliminary figure of around 417.28 billion patacas (€43 billion), according to preliminary data from the DSEC.
According to the statement from the IMF's annual Article IV mission, released on Wednesday, in the medium term, economic growth in the Macau SAR is expected to slow «further, to 3%, in line with the projected slowdown in growth in mainland China and the Hong Kong SAR».
In an April report, the Washington-based institution had cut its GDP growth forecast for 2026 to 3.1% (two tenths of a percentage point below the current estimate).
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