Information from the Statistics and Census Service (DSEC) indicated that Gross Domestic Product (GDP) for the first quarter of 2011 expanded by 21.5% in real terms. The increment is attributable to the increase in exports of services and investment, of which exports of gaming services surged by 36.1%, total visitor spending (excluding gaming expenses) increased by 2.6%, investment expanded by 28.4% and private consumption expenditure rose by 12.6%; however, merchandise exports contracted by 6.7%. Implicit deflator of GDP for the first quarter of 2011, reflecting changes in overall prices, increased by 6.1% year-on-year. Furthermore, GDP change for 2010 revised upward from 26.2% to 26.4% in real terms. In the first quarter of 2011, private consumption expenditure increased by 12.6% that was spurred by the impetus of the continuous booming tourism and gaming sector, rise in total employment and income, as well as low unemployment rate. Final consumption expenditure in the domestic market increased by 9.6%; at the same time, final consumption expenditure abroad soared by 24.5%, with that in Mainland China amounting to MOP 1.73 billion. Government final consumption expenditure declined by 1.8% on account of the 16.9% decrease in net purchases of goods and services; however, compensation of employees increased by 5.6%. Gross fixed capital formation, the gauge of investment, expanded by 28.4%. Private investment grew by 28.4%, with construction investment and equipment investment increasing by 26.1% and 32.3% respectively. Government investment increased by 32.2%, in which construction investment and equipment investment rose by 4.4% and 149.8% respectively. Protracted decline in merchandise exports continued to register a decrease of 6.7% in the first quarter of 2011. On the contrary, merchandise imports increased by 22.7%, attributable to the private consumption and investment. As regards trade in services, exports of services surged by 30.0% in the first quarter of 2011, upon rising visitor arrivals and increase in visitors spending, of which exports of gaming services expanded by 36.1%, total visitor spending (excluding gaming expenses) went up by 2.6%. In addition, imports of services increased by 37.3%.
