Macao GDP Annual Growth Rate
The Gross Domestic Product (GDP) in Macao expanded 12.40 percent in the first quarter of 2014 over the same quarter of the previous year. GDP Annual Growth Rate in Macao averaged 13.71 Percent from 2002 until 2014, reaching an all time high of 51.80 Percent in the second quarter of 2004 and a record low of -9.90 Percent in the second quarter of 2009. GDP Annual Growth Rate in Macao is reported by the Statistics and Census Service, Government of Macao SAR.
||2002 - 2014
Macao, a former Portuguese colony, has become a special administrative region of China since 1999. After opening of its borders to Chinese citizens and liberalization of the gaming industry in 2001, it has become the world’s largest casino market. As a result, gaming accounts for 50 percent of GDP, 84 percent of fiscal revenues and around 21 percent of the workforce. Given Macao’s semi-autonomous status inside China, large gaming industry and relaxed tax laws, it has become a base for wealthy investors especially from Mainland China. Attempts to diversify the economy while limiting casino growth have been fairly unsuccessful. This page provides - Macao GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.