The preliminary GDP figure for the first quarter of Macau was 99.78 billion Macau patacas.

On May 2nd, according to data from the Statistics and Census Service of Macau, the Macau economy experienced rapid recovery in 2023 and gradually returned to normal pace in 2024, with year-on-year substantial growth decreasing from 23.0% in the first quarter to 3.4% in the fourth quarter. Entering 2025, due to factors such as higher base period last year and changes in tourist consumption patterns, the preliminary figure of gross domestic product for the first quarter was 99.78 billion Macau Patacas, a year-on-year decrease of 1.3%, equivalent to 85.2% of the overall economic scale in the same period in 2019. Analyzing the main components, although the number of inbound tourists increased by 11.1% year-on-year in the first quarter, changes in tourist consumption patterns led to a decrease in other tourism services exports, resulting in an overall service export decrease of 3.8% in real terms. On the domestic demand side, the main components remained relatively stable, with total fixed capital formation increasing by 7.8%, government final consumption expenditure and private consumption expenditure increasing by 1.0% and 0.6%, respectively. Authorities stated that since the beginning of this year, the international situation has been complex, with insufficient momentum in global economic growth, increased uncertainties in US-China relations, and rapid changes in tourists' consumption patterns, consumption ideas, and consumer class, affecting tourists' consumption intentions in Macau. As tourist consumption declined, it also impacted the development of Macau's tourism industry to a certain extent, leading to fluctuations in the economic recovery process in the first quarter of this year. However, the overall Macau economy remains in a recovery trend, with fiscal and financial stability and positive development prospects. Overall, it is expected that as long as there are no significant changes in the internal and external environment, Macau's economy will not experience cyclical decline and is expected to maintain its recovery momentum.