MACAO, Feb. 28 (Xinhua) -- The economy of Macao in 2017 grew by 9.1 percent in real terms to 404.2 billion patacas (about 50.32 billion U.S. dollars), ending the economic contraction for the past three consecutive years, the special administrative region's statistic service said here on Wednesday.
The latest report from the Statistics and Census Service (DSEC) showed that Gross Domestic Product (GDP) in the fourth quarter of 2017 expanded by 8.0 percent year-on-year, with growth rates for the first, second and third quarters revised upwards to 11.5 percent, 11.0 percent and 6.3 percent respectively.
The report also said the per-capita GDP in 2017 was 622,803 patacas (about 77,596 dollars). The implicit deflator of GDP increased by 2.3 percent year-on-year.
As regards GDP structure by major components, relative importance of net exports of goods and services to GDP rose by 5.8 percentage points from 41.6 percent in 2016 to 47.4 percent in 2017.
By contrast, relative importance of domestic demand to GDP dropped by 5.8 percentage points to 52.6 percent in 2017 as the shares of investment and private consumption expenditure decreased by 3.2 percentage points and 2.1 percentage points respectively.
The DSEC report added that although the whole economy resumed positive growth, domestic demand remained weak and retreated by 2.7 percent in 2017. Private consumption expenditure and government final consumption expenditure rose by 1.6 percent and 1.7 percent respectively, while gross fixed capital formation decreased by 10.0 percent.
