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Economy in Macau

  • Macau posts trade deficit of US$1.825 billion in the 1st quarter

    MACAU, 2016/05/04 Macau’s trade deficit in the initial quarter 2016 reached 14.602 billion patacas (US$1.825 billion), a year on year development of 25.3 %, reported the Statistics and Census Bureau. According to the Bureau, the trade deficit in the initial quarter of 2015 totalled 19.5516 billion patacas. In the initial three months of 2016 Macau exported goods worth 2.697 billion patacas (almost the same all as the 2.699 billion patacas recorded in 2015) and imported goods worth 17.300 billion patacas, a real drop of 7.651 billion patacas compared to the all recorded in the same period of 2015.
  • Global growth will be disappointing in 2016: IMF's Lagarde

    AFGHANISTAN, 2016/01/02 World economic increase will be disappointing next year and the outlook for the medium-term has as well deteriorated, the chief of the International Monetary Fund said in a guest article for German newspaper Handelsblatt published on Wednesday. IMF Managing Director Christine Lagarde said the prospect of rising interest rates in the United States and an economic slowdown in China were contributing to uncertainty and a higher risk of economic vulnerability worldwide. Added to that, increase in world trade has slowed considerably and a decline in raw material prices is posing problems for economies based on these, while the financial sector in a lot of nations still has weaknesses and financial risks are rising in emerging markets, she said.
  • Revised IMF forecasts signal gloom on global economic outlook

    AFGHANISTAN, 2015/01/20 Low oil prices will not provide a sufficient updraught to dispel the clouds hanging over the world economy, the International Monetary Fund said on Tuesday. In a sign of its increasing gloom about the medium term economic outlook, the IMF cut its world economic increase forecasts by 0.3 % points for both 2015 and 2016, despite believing cheaper oil represents a “shot in the arm”.
  • Gross gaming and gambling revenues in Macau

    MACAU, 2013/10/04 Gross gaming and gambling revenues in Macau totalled 260.632 billion patacas (US$32.579 billion) from January to September, representing a year-on-year rise of 16.7 %, the Gaming Inspection and Coordination Bureau (GICB) said. According to the same figures gross casino gaming revenues in September totalled 28.963 billion patacas, a rise of 21.4 % against September 2012. However, against August, in which gross revenues totalled 30.737 million patacas, there was a real drop of 1.774 billion patacas or 5.8 %.
  • Macau economy expected to have grown 9 pct in 2012

    MACAU, 2013/01/28 Macau’s economy in 2013 is expected to post single digit increase, following 10 consecutive quarters of two digit annual increase, said the Macau Monetary Authority (AMCM) in its statement entitled, “Analysis of Monetary and Financial Stability.” “External request continues to slow whilst internal request, which is the equivalent of 40 % of external request, will continue to see rapid increase” the statement said, noting that the region, “will continue to see a positive outlook.”
  • Mr. Jackson Chang, President of IPIM

    MACAU, 2013/01/07 Mr. Mohamed Fahmy, Consul General of Egypt in Hong Kong and Mr. Ahmed Haggagovic, an Egyptian globetrotter that has travelled 97 nations to bolster his country’s tourism, visited IPIM on 21 November and were received by Mr. Jackson Chang, President of IPIM.
  • The Gaming Inspection and Coordination Bureau (GICB)

    MACAU, 2013/01/07 Gross gaming and gambling revenues in Macau totalled 304.139 billion patacas (US$38.017 billion) in 2012, representing a year-on-year rise of 13.5 %, the Gaming Inspection and Coordination Bureau (GICB) said. The accumulated increase rate rose in December, bucking the progressive downward trajectory it had been on since January at the same time as it rose 34.8 %, falling to just 13 % by November.
  • A story of growth

    MACAU, 2012/12/07 The city was a Portuguese colony from the mid-16th century until 1999, when it was peacefully returned to China, and it has held its special status within the country ever since.