21.08.202609:14:01UTC+00Macau GDP Growth Hits Weakest Since Q1 2025

Macau’s economy expanded by 0.3% year-on-year in the second quarter of 2026, a sharp slowdown from the 7.1% growth recorded in the previous quarter and in line with preliminary estimates. This was the weakest pace of expansion since Q1 2025, as external trade weighed on overall performance: imports of goods and services surged 10.9%, significantly outpacing the 4.1% increase in exports.

Service exports as a whole lost momentum, with growth easing to 1.6% from 12.8% in the prior period. The sector was dragged down by a contraction in gaming service exports (-1.6% vs. +13.0%), while growth in other tourism-related services also moderated to 3.7% from 17.5%.

Domestic demand softened as well, reflecting slower growth in private consumption (2.7% vs. 3.4%) and a deceleration in inventory accumulation (22.7% vs. 23.5%). In contrast, gross fixed capital formation rebounded, rising 4.0% after a 21.0% contraction previously. This turnaround was supported by a pickup in investment in both the private sector (8.1% vs. -24.3%) and the public sector (-2.9% vs. -14.8%).