Macao's industry sector records $1.47b revenue in 2019

MACAO - Revenue of Macao's industry sector amounted to 11.69 billion Macao patacas ($1.47 billion) in 2019, an increase of 5 percent year-on-year, the special administrative region's statistic service said here on Saturday.

The latest report from the Statistics and Census Service (DSEC) indicated that a total of 900 operating establishments were engaged in industrial related activities, including manufacturing and electricity, gas and water supply, in Macao in 2019, representing a decrease of 16 year-on-year.

The total number of persons engaged grew by 124 to 12,553, the DSEC report added.

The value of production in 2019 reached 11.55 billion Macao patacas ($1.45 billion), accounting for 98.8 percent of total sector revenue and recording an increase of 5 percent year-on-year.

The expenditure of these operating establishments rose by 7.7 percent to 8.64 billion Macao patacas ($1.08 billion), mainly driven by a 9.3 percent growth in compensation of employees.

As the increase in expenditure was greater than that in revenue, the gross surplus of the sector dropped by 1.9 percent year-on-year to 3.05 billion Macao patacas ($382.54 million) in 2019.

The gross value added that measures the sectoral contribution to the economy grew by 2.7 percent to 5.41 billion Macao patacas ($678.54 million), while the gross fixed capital formation declined by 10.0 percent to 1.74 billion Macao patacas ($218.24 million).