In the fourth quarter of last year, the revised GDP was MOP115.72 billion (12 billion euros), reflecting a year-on-year real growth of 7.6%, with the economic total returning to 94.1% of the same period in 2019.
The Statistics and Census Service indicated that the significant increase in visitor numbers in the fourth quarter of 2025, driven by several large events held in Macau and a series of government initiatives to attract customers, contributed to a sustained rapid growth in service exports and continued a “steady and progressive” development trend for the overall economy.
From a component analysis, service exports rose by 9.8%, fueled by a 15.4% increase in incoming visitors. Notably, gaming service exports and other tourism service exports grew by 18.0% and 3.7%, respectively.
In terms of internal demand, government final consumption expenditure and private consumption expenditure increased by 2.1% and 0.7% year-on-year, while total fixed capital formation recorded a growth of 1.3%.
For the entire year of 2025, the revised GDP figures show MOP 418.04 billion, representing a year-on-year real growth of 4.7%, with the economic output recovering to 89.6% of the 2019 level.
Among the main components, service exports, government final consumption, and private consumption expenditures increased by 5.0%, 3.0%, and 1.3%, respectively, while total fixed capital formation decreased by 7.8%.
