Macau - Economy
How is the economy of Macau? Based on the information we have, Macau has a high-income, Chinese special administrative region economy; known for apparel exports and gambling tourism; currency pegged to Hong Kong dollar; significant recession due to 2015 Chinese anticorruption campaign; COVID-19 further halved economic activity. Key agricultural products in this country include: pork, chicken, beef, eggs, pork offal, pork fat, pepper, beef offal, cattle hides, goose meat (2023).
More about the economy of Macau
| Labor force | 396,000 (2023 est.) |
|---|---|
| Industrial production growth rate | 6.78% (2023 est.) |
| Industries | tourism, gambling, clothing, textiles, electronics, footwear, toys |
| Population below poverty line | |
| Taxes and other revenues | 16.7% (of GDP) (2022 est.) |
| Fiscal year | |
| Exchange rates | |
| Currency | patacas (MOP) per US dollar - |
| Exchange rates 2023 | 8.063 (2023 est.) |
| Exchange rates 2022 | 8.065 (2022 est.) |
| Exchange rates 2021 | 8.006 (2021 est.) |
| Exchange rates 2020 | 7.989 (2020 est.) |
| Exchange rates 2019 | 8.07 (2019 est.) |
| Reserves of foreign exchange and gold | |
| Reserves of foreign exchange and gold 2023 | $27.771 billion (2023 est.) |
| Reserves of foreign exchange and gold 2022 | $25.971 billion (2022 est.) |
| Reserves of foreign exchange and gold 2021 | $26.665 billion (2021 est.) |
| Current account balance | |
| Current account balance 2023 | $16.955 billion (2023 est.) |
| Current account balance 2022 | $2.845 billion (2022 est.) |
| Current account balance 2021 | $2.683 billion (2021 est.) |
| Public debt | |
| Public debt 2017 | 0% of GDP (2017 est.) |
| Budget | |
| Revenues | $5.135 billion (2022 est.) |
| Expenditures | $12.259 billion (2022 est.) |
| Budget surplus (+) or deficit (-) | |
| Remittances | |
| Remittances 2023 | 0.23% of GDP (2023 est.) |
| Remittances 2022 | 0.33% of GDP (2022 est.) |
| Remittances 2021 | 0.24% of GDP (2021 est.) |
| Imports | |
| Imports 2023 | $23.18 billion (2023 est.) |
| Imports 2022 | $21.405 billion (2022 est.) |
| Imports 2021 | $23.77 billion (2021 est.) |
| Imports (partners) | China 36%, Hong Kong 17%, USA 6%, France 6%, Japan 5% (2023) |
| Comodities Imports force | jewelry, garments, trunks and cases, broadcasting equipment, electricity (2023) |
| Exports | |
| Imports 2023 | $23.18 billion (2023 est.) |
| Imports 2022 | $21.405 billion (2022 est.) |
| Imports 2021 | $23.77 billion (2021 est.) |
| Exports (partners) | Hong Kong 73%, China 6%, USA 6%, Philippines 3%, Singapore 1% (2023) |
| Comodities Exports force | jewelry, garments, broadcasting equipment, precious metal watches, video and card games (2023) |
| Real GDP (purchasing power parity) | |
| Real GDP (purchasing power parity) 2023 | $71.248 billion (2023 est.) |
| Real GDP (purchasing power parity) 2022 | $40.699 billion (2022 est.) |
| Real GDP (purchasing power parity) 2021 | $50.626 billion (2021 est.) |
| GDP (official exchange rate) | $45.803 billion (2023 est.) |
| Real GDP Per capita | |
| Real GDP per capita 2023 | $105,000 (2023 est.) |
| Real GDP per capita 2022 | $60,100 (2022 est.) |
| Real GDP per capita 2021 | $74,200 (2021 est.) |
| GDP - composition, by sector of origin | |
| Industry | 5.4% (2023 est.) |
| Services | 91.4% (2023 est.) |
| GDP - composition, by end use | |
| Household consumption | 30.1% (2023 est.) |
| Government consumption | 13.8% (2023 est.) |
| Investment in fixed capital | 14.6% (2023 est.) |
| Investment in inventories | 0.9% (2023 est.) |
| Exports of goods and services | 91.4% (2023 est.) |
| Imports of goods and services | -50.7% (2023 est.) |
| Unemployment rate | |
| Unemployment rate 2023 | 2.25% (2023 est.) |
| Unemployment rate 2022 | 2.48% (2022 est.) |
| Unemployment rate 2021 | 2.25% (2021 est.) |
| Youth unemployment rate (ages 15-24) | |
| Total | 7% (2023 est.) |
| Male | 9% (2023 est.) |
| Female | 5.3% (2023 est.) |
All Important Facts about Macau
Want to know more about Macau? Check all different factbooks for Macau below.
