Tertiary sector's relative importance to Macao's GDP

The relative importance of Macao's tertiary sector to Gross Domestic Product (GDP) rose from 92.6 percent in 2010 to 93.6 percent in 2011, while that of the secondary sector dropped by 1.0 percentage point to 6.4 percent, according to the statistics released on Thursday by Macao's Statistics and Census Service (DSEC).

Relative importance of Gaming sector, the pillar of local economy, increased by 3.6 percentage points to 44.7 percent in 2011 year-on-year, and that of Wholesale and retail sector and Hotel sector went up by 0.8 and 0.2 percentage point respectively to 7.8 percent and 4.8 percent, the figures indicated.

However, relative importance of the remaining economic activities decreased, of which that of Real Estate Activities declined by 0.6 percentage point over 2010.

In 2011, the total Gross Value Added of all economic activities of Macao declined from 46.2 percent in 2010 to 45.1 percent in 2011, with that of the Gaming sector surging by 40.3 percent, the DSEC said.

Meanwhile, Gross Value Added of Manufacturing and Construction rose by 4.1 percent and 14.8 percent respectively, yet the rate of increase was lower than that of economic growth, thus bringing the relative importance of the secondary sector to GDP to drop by 1.0 percentage point to 6.4 percent, according to the DSEC.