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Macao Economic Data & Projections

Macao's Macroeconomic Analysis:

Nominal GDP of USD 47.1 billion in 2023.

Nominal GDP of USD 24.0 billion in 2022.

GDP per capita of USD 34,493 compared to the global average of USD 10,589.

GDP per capita of USD 69,108 compared to the global average of USD 10,589.

Average real GDP growth of 2.6% over the last decade.

Average real GDP growth of 4.7% over the last decade.

Share of the region's population
Share of the region's GDP

GDP by economic sector
GDP by type of expenditure

Main Economic Indicators

Economic growth

The economy recorded an average annual decrease of 4.7% in the decade to 2022. To read more about GDP growth in Macao, go to our dedicated page.

Fiscal policy

Macao's fiscal surplus averaged 14.9% of GDP in the decade to 2020. Find out more on our dedicated page.

Inflation

Inflation averaged 3.0% in the decade to 2022. Go to our Macao inflation page for extra insight.

Monetary Policy

Macao's monetary policy rate ended 2022 at 4.75%, up from 0.50% a decade earlier. See our Macao monetary policy page for additional details.

Exchange Rate

From end-2012 to end-2022 the pataca stayed on the same level vs the U.S. dollar. For more info on the pataca, click here.

Macao Economic Forecasts

Projections out to 2034.

31 indicators covered including both annual and quarterly frequencies.

Consensus Forecasts based on a panel of 4 expert analysts.

Want to get insight on the economic outlook for Macao in the coming years? FocusEconomics collects projections out to 2034 on 31 economic indicators for Macao from a panel of 4 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts, and averaged to provide one Consensus Forecast you can rely on for each indicator. This means you avoid the risk of relying on out of date, biased or outlier forecasts. Our Consensus Forecasts can be visualized in whichever way best suits your needs, including via interactive online dashboards , direct data delivery and executive-style reports which combine analysts' projections with timely written analysis from our in-house team of economists on the latest developments in the Macao economy. To download a sample report on the Macao's economy, click here. To get in touch with our team for more information, fill in the form at the bottom of this page.

Macao Economic Indicators

2019 2020 2021 2022 2023
Population (million) 0.7 0.7 0.7 0.7 0.7
GDP (USD bn) 55.1 25.3 31.0 25.0 45.8
GDP per Capita (USD) 81,008 37,108 45,340 37,144 67,260
GDP (LCU bn) 445 202 248 202 369
Economic Growth (Nominal GDP, ann. var. %) -0.2 -54.5 22.4 -18.7 83.2
Economic Growth (GDP, ann. var. %) -2.6 -54.3 23.5 -21.4 80.5
Fiscal Balance (% of GDP) 14.4 -21.4 -12.9 -37.7 -
Inflation (CPI, ann. var. %, eop) 2.6 -0.9 1.0 0.8 1.4
Inflation (CPI, ann. var. %, aop) 2.8 0.8 0.0 1.0 0.9
Policy Rate (%, eop) 2.00 0.50 0.50 4.75 5.75
Exchange Rate (MOP per USD, eop) 8.02 7.99 8.03 8.03 8.05
Exchange Rate (LCU per USD, aop) 8.07 7.99 8.01 8.07 8.06
Current Account Balance (USD bn) 18.7 3.9 3.0 - -
Current Account Balance (% of GDP) 34.0 15.5 9.5 - -
Merchandise Trade Balance (USD bn) -10.6 -7.7 -10.3 -9.7 -
Merchandise Exports (USD bn) 1.9 4.2 9.5 7.9 -
Merchandise Imports (USD bn) 12.5 12.0 19.8 17.6 -
Merchandise Exports (ann. var. %) -5.8 128.4 123.7 -16.9 -
Merchandise Imports (ann. var. %) -2.9 -4.0 65.4 -11.2 -
Foreign Direct Investment (USD bn) 6.5 -6.2 5.7 2.9 2.3
International Reserves (USD bn) 22.2 25.1 26.7 26.0 27.8
International Reserves (months of imports) 21.4 25.2 16.2 17.7 -
Free Sample Report

Interested in Macao economic reports, analysis and data? FocusEconomics provides data, forecasts and analysis for hundreds of countries and commodities. Request your free sample report now.

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