Macao's economy expands 10.2 pct in Q2

Spurred by increase in exports of services, Macao's gross domestic product (GDP) grew by 10.2 percent year on year in the second quarter, according to the figures released Friday by Macao's Statistics and Census Service.

Analyzed by major components, exports of gaming services and other tourism services increased 10.2 percent and 17.5 percent, respectively, private consumption expenditure rose 4.5 percent and private investment expanded 13.6 percent.

Total employment and working income climbed further, driving up private consumption expenditure by 4.5 percent year on year.

Private investment jumped 13.6 percent, of which construction investment grew 21.1 percent, while equipment investment shrank 10.6 percent.

In March-June, the government final consumption moved up 7.6 percent, while government investment dropped significantly by 29.3 percent as a result of the construction of the Hengqin Campus of the University of Macao approaching completion

Meanwhile, merchandise exports grew 10 percent year on year and merchandise imports increased 15.7 percent on account of rising visitor arrivals, private consumption expenditure and investment.