Macao GDP expands 9 pct in 2017
Gross domestic product in the Macao SAR was up by 9.1 percent in real terms in 2017 than in 2016, according to Statistics and Census Service data. Last year’s growth was the first in any calendar year since 2013.
The Statistics and Census Service said the expansion was propelled by increases in exports of services and in investment. Among them, the value of exports of services increased by 15.4 percent as more tourists visited the city.
GDP amounted to 404.2 billion patacas (US$50 billion) and GDP per person was 622,803 patacas.
The International Monetary Fund said in the October 2017 edition of its World Economic Outlook that it had increased its forecast of the Macao SAR GDP in 2018 to 13.4 percent.
Fitch Ratings said in February 2018 that it had raised its credit ratings for Macao to AA from AA-, with a stable outlook.
The ratings agency noted that with Macao SAR’s exceptionally strong fiscal and external financial position, zero government debt, prudent public expenditure management and credible policy framework are key factors supporting its high credit ratings and “stable” outlook.