The Industrial Structure of Macao 2007

The Statistics and Census Service (DSEC) released summary information on the changes in the industrial structure of Macao for 2007, as follows. The major economic activities of Macao saw outstanding development in 2007, especially in the Gaming, Hotel, Wholesale & Retail, Real Estate and the Construction sectors. As the tertiary sector grew more vigorously than the secondary sector, the relative importance of the tertiary sector in Gross Domestic Product (GDP) rose from 85.1% in 2006 to 86.0%, while that of the secondary sector fell from 18.7% to 17.7%. In 2007, the total gross value added of all economic activities of Macao increased significantly by 32.5% over 2006, with that of the Gaming sector rising by 37.2%. The overall intermediate consumption and compensation of employees grew by 27.4% and 31.7% respectively over 2006, with that of the Hotel sector soaring remarkably by 112.9% and 87.3% respectively. The ratio of total gross valued added to total gross output of all economic activities edged up by 0.2 percentage point to 50.0% in 2007, and the ratio of total compensation of employees to total gross value added rose by 1.0 percentage point to 37.9%. The relative importance of the secondary sector in GDP decreased by 1.0 percentage point from 2006. The proportion of the Construction sector grew by 0.6 percentage point to 13.8% owing to construction of the major gaming and tourism facilities at full speed and the booming real estate market; however, the relative importance of the Manufacturing sector and Electricity, Gas & Water Supply declined by 1.1 and 0.6 percentage point respectively to 2.8% and 1.1%. The relative importance of the tertiary sector in GDP grew by 0.9 percentage point, with notable increases in that of the Gaming, Real Estate and Wholesale & Retail sectors. The proportion of the Gaming sector rose by 2.3 percentage points from 33.3% in 2006 to 35.6%; Real Estate rose by 0.5 percentage point from 6.7% to 7.2%; Wholesale & Retail rose by 0.4 percentage point from 6.0% to 6.4%; meanwhile, the proportion of the Hotel sector and Renting & Business Activities rose mildly. The relative importance of the remaining industries, such as Restaurants; Transport, Storage & Communications; Banking; Insurance; Public Administration; Education; and Health & Social Work declined as the rate of increase of the respective gross value added was lower than the overall level of growth (32.5%) for all economic activities, on account of the increment in intermediate consumption was higher than that of the gross output.