According to figures from the Statistics and Census Bureau (DSEC), Macau’s Gross Domestic Product (GDP) fell 39.3% year-on-year in the second quarter.
The decline in GDP was mainly due to a 48.6% decline in services exports, with gaming services exports plummeting by 69.6% and tourism services exports dropping by 47%.
Total gaming revenue plunged 66% year-on-year to MOP 8.49 billion between April and June 2022.
Personal consumption and public consumption also decreased, albeit in the single digits. Overall private consumption fell by 6.6%, while government final consumption expenditure fell by 6.5%.
Public procurement of goods and services fell by 15.7%.
The second-quarter figures were “as the economic downturn further weakened consumer sentiment and new confirmed coronavirus cases in the region in late June impacted economic activity in the region,” DSEC said. emphasizes.
On the investment side, gross capital formation fell by 29.4% and construction investment by 41.4%.