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

MACAO - Revenue of Macao's industry sector amounted to 11.69 billion Macao pataca ($1.47 billion) in 2019, an increase of 5.0 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 pataca, accounting for 98.8 percent of total sector revenue and recording an increase of 5.0 percent year-on-year.

The expenditure of these operating establishments rose by 7.7 percent to 8.64 billion Macao pataca, 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 pataca in 2019.

The gross value added that measures the sectoral contribution to the economy grew by 2.7 percent to 5.41 billion Macao pataca, while the gross fixed capital formation declined by 10.0 percent to 1.74 billion Macao pataca.