Retail and wholesale contribution to economy up by 46 pct

The wholesale and retail sector’s contribution to the Macau economy surged by 46 percent last year, data released yesterday by the Statistics and Census Service shows. Gross value added, that measures the sectorial contribution to the economy, stood at MOP15.27 billion (US$1.9 billion) in 2011, while gross fixed capital formation amounted to MOP829 million, up by 32 percent year-on-year. A total of 12,700 wholesale and retail establishments, market stalls and fixed stalls on the street were operating in Macau as of last year, a decrease of 274 compared with 2010. At the end of last year, the total number of people engaged in the wholesale and retail sector stood at close to 45,000, up by 1 percent year-on-year.