Macau’s preliminary gross domestic product (GDP) for the third quarter of 2025 reached MOP$103.86 billion (US$13.0 billion), representing 8.0% year-on-year real growth. The overall economic scale has recovered to 92.6% of the same period in 2019, according to data from the Statistics and Census Service (DSEC).
Overall service exports grew by 10.5% year-on-year, driven by a 13.6% increase in visitor arrivals during the third quarter.
On domestic demand, government final consumption expenditure and private consumption expenditure recorded increases of 2.7% and 0.8%, respectively. However, gross fixed capital formation declined by 26.1% due to reductions in private and public construction projects.
The DSEC noted that benefiting from the summer peak season and the sustained positive momentum in the tourism industry in the Macao SAR, visitor arrivals to Macau recorded a significant increase in the third quarter of this year, driving a further rise in service exports, coupled with steady local private consumption, enabling the overall economy to continue its stable and progressive development trend.
Visitor arrivals to Macau have gradually increased this year. In the first three quarters, total visitor arrivals reached 29,671,070, up 14.5% year-on-year. Among these, international visitors totaled 1,885,965, representing a 12.4% year-on-year increase.
The preliminary GDP figure for the first three quarters of this year stands at MOP$301.33 billion (US$37.7 billion), representing a real year-on-year increase of 4.2%. The total economic output has recovered to 88.4% of the level recorded during the same period in 2019.
