According to data released by the Statistics and Census Bureau of the Macao Special Administrative Region Government on the 25th, benefiting from positive factors such as the comprehensive resumption of personnel exchanges between Hong Kong and Macao, and the resumption of team tourism from mainland China to Macao, Macau's gross domestic product increased by 38.8% year-on-year in the first quarter of 2023. Compared to the first quarter of 2019, the total economic output of Macau has rebounded to 66.4% of the current period. This statistics shows that in the first quarter of 2023, the final consumption expenditure of Macau residents in the local area decreased by 12.1% year-on-year, while the final consumption expenditure of residents in other areas increased by 53.5%, and overall private consumption decreased by 7.5% year-on-year. Due to the higher expenditure on economic assistance measures such as living subsidies and electricity subsidies compared to the same quarter last year, the final consumption expenditure of the Macao Special Administrative Region Government increased by 30.1% year-on-year. In the first quarter of 2023, the number of inbound tourists to Macau was 4.948 million, an increase of 1.6 times year-on-year, accounting for 48.4% of the same period in 2019. This led to a year-on-year increase of 71.5% in overall service exports and a 24.0% increase in service imports. The data released by the Bureau of Statistics and Census on that day also showed that the overall unemployment rate in Macau from February to April 2023 was 2.8%, while the local residents' unemployment rate was 3.6%, both of which decreased by 0.3 percentage points compared to the previous period (January March 2023). (New News Agency)
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