Macau gaming and junket businesses produced 50.5 per cent of Macau gross domestic product (GDP) at producers’ prices, based on the production approach calculation, the Statistics and Census Bureau (DSEC) announced on Wednesday.
Gaming and junket businesses’ share of GDP at producers’ prices rose by 1.5 percentage points year-on-year in 2018.
The gross value added (GVA) at current prices of the gaming and junket sector rose 10 per cent in real terms year-on-year to 220.8 billion patacas last year.
GVA is the measure of the value of goods and services produced in an area, industry or sector of an economy.
Real-estate activities had the second-largest share of GDP at producers’ prices last year, amounting to 41.9 billion patacas, a year-on-year drop of 5.3 per cent in real terms. The real-estate’s share of GDP at producers’ prices fell 0.9 percentage points.
Other major shares of GDP at producers’ prices last year were held by the wholesale and retail sector (5.8 per cent), banking (5.3 per cent), and hotels (4.6 per cent). The public administration’s share stood at 4.1 per cent.
The production approach, also called the output approach, measures GDP as the difference between the value of output less the value of goods and services used in producing these outputs during an accounting period.