Macao's GDP grows 15.6 percent in 2003

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Last updated at: (Beijing Time) Friday, April 02, 2004

Macao's GDP grows 15.6 percent in 2003

The gross domestic product (GDP) of the Macao Special Administrative Region (SAR) grew 15.6 percent year-on-year in real terms last year, the Macao Statistics and Census Bureau said on Thursday.

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The gross domestic product (GDP) of the Macao Special Administrative Region (SAR) grew 15.6 percent year-on-year in real terms last year, the Macao Statistics and Census Bureau said on Thursday.

The figures showed that Macao's per capita GDP reached 17,829 US dollars in 2003.

The bureau attributed the strong GDP growth to a significant increase in the number of individual travelers from the mainland as a result of Beijing's facilitated exit permits for mainland visitors to Hong Kong and Macao, which was in effect in late July of last year.

The buoyant tourist growth in the second half year resulted in a record high quarterly GDP growth of 21.1 percent in the fourth quarter last year.

According to the bureau, Macao's gaming sector and overall construction investment grew 29 percent and 74.7 percent respectively last year, when the gaming businesses took up over 30percent share in Macao's GDP.

Source:Xinhua

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