The gross domestic product of Macao in the first three quarters was 301 billion Macau patacas, a year-on-year increase of 11.5%.

On November 18th, data from the Statistics and Census Bureau of Macao showed that the local Gross Domestic Product (GDP) for the first three quarters of 2024 reached 301 billion Macao patacas, a real increase of 11.5% compared to the same period last year. The overall economic scale recovered to 86.3% of the same period in 2019, surpassing the 3 trillion pataca level for the first time since 2019. Among them, service exports increased by 11.4% year-on-year, while internal demand (including private consumption expenditure, government final consumption expenditure, and investment) also recorded a growth of 2.7%. During the first three quarters, service exports increased by 11.4% year-on-year. Benefiting from the peak summer tourism season, visitor arrivals to Macao continued to grow, driving a real increase of 11.4% in overall service exports for the first three quarters, with gaming service exports growing by 28.4%. However, other tourism service exports decreased by 6.1% due to the high base figure of the same period last year, rising nearly 15% compared to the same period in 2019. In terms of merchandise trade, both exports and imports decreased by 15.1% and 8.3% respectively. With the continuous improvement of the local economic situation and job market, residents' incomes have increased, leading to a steady growth in private consumption. Private consumption expenditure rose by 5.8% year-on-year during the first three quarters, with household final consumption expenditure in the local market increasing by 4.8% and expenditure abroad rising by 13.6%. On the other hand, due to the completion of the "Living Subsidy Scheme," government final consumption expenditure decreased by 10.1% year-on-year, with purchases of goods and services falling by 21.9% while employee compensation remained similar to the same period last year. In addition, with the continued improvement of the local business environment, companies continued to increase their investments in Macao, leading to a 9.2% year-on-year increase in total fixed capital formation. Private investment saw a significant increase, with private equipment and private construction investment rising by 31.5% and 11.6% respectively. Government equipment investment also increased by 27.3%, while government construction investment decreased by 8.6% due to the completion of some large public projects. Compared to the third quarter of 2023, the real growth rate of Macao's GDP in the third quarter of 2024 was 4.7%, with the overall economic scale equivalent to 87.3% of the same period in 2019. Service exports and internal demand increased by 1.3% and 4.6% respectively. The local GDP, which includes the chain volume index (106.7) to measure overall price changes, rose by 1.5% year-on-year.