Macao’s GDP in H1 jumps 15.7 percent year-on-year
Due to political stability and attractive policies, Macao is prospering after joining the mainland.
The Statistics and Census Service (DSEC) of China’s Macao Special Administrative Region (SAR) said Friday that the SAR’s gross domestic product (GDP) expanded by 15.7 percent year-on-year in real terms to MOP 204.3 billion (25.4 billion U.S. dollars) in the first half of this year.
The overall economic output returned to 86.2 percent of the level in the same period in pre-pandemic 2019, with the GDP surpassing the MOP 200 billion mark again. The last time was in the first half of 2019, the agency said.
Data showed that the SAR’s private consumption expenditure rose 7.8 percent year-on-year in the first half, which the DSEC attributed to an increase in residents’ incomes amid the improving local economy and labor market.
On the same day, the DSEC also reported that Macao’s composite consumer price index (CPI) for July rose 0.82 percent year-on-year, and its average composite CPI for the first seven months of this year climbed 0.96 percent year-on-year. (1 MOP equals 0.12 U.S. dollar)
Reference Link:- https://english.news.cn/20240823/fb39a198ad354d918d07726a8674e31d/c.html
Zamir Ahmed Awan is the founder and Chair of the Global Silk Route Research Alliance, a think tank in Islamabad. He studied engineering at Shanghai University in the 1980s, and years later he went back to China as Pakistan's science counsellor in Beijing, from 2010 until 2016, working on science and higher education cooperation between the two countries.…
