Includes historical data for Macao SAR’s Gross Domestic Product growth, debt-to-GDP ratio and more, as well as information on trade, banking and financial sector leadership.
Gambling, Finance, Tourism Power Economy
Macao, a Special Administrative Region of China since 1999, enjoys significant economic autonomy under the “One country, Two systems” principle. Formerly a colony of the Portuguese Empire, since the gaming industry was liberalized in 2001, this narrow peninsula just south of Hong Kong has seen its wealth grow at an astounding pace, turning into one of the richest countries in the world. However, ever since the Covid-19 pandemic prompted border closures and a sudden revenue decline, Macao has also bolstered its efforts to reduce the over-reliance on the gaming sector by positioning itself as a regional center for international events and conventions, commerce, finance and technology services.
Macao maintains separate membership in the World Trade Organization from mainland China and offers an investor-friendly environment with minimal restrictions on foreign investment compared to domestic firms. Still, weaknesses persist, including a shortage of human resources, inadequate infrastructure and transportation, and regulatory inefficiencies.
Macroeconomy & Sovereign Data
Type of Government | A special administrative region of the People’s Republic of China |
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Capital | Macao |
Sovereign Ratings |
S&P: Not rated Moody’s: Aa3 Fitch: AA |
Total Population | 721,000 |
Median Age | 38.5 |
Adult Per Capita Income (PPP) | 48,824.30 |
Total GDP (2023) | USD 50.5 billion |
Macao SAR GDP & Economic Overview
Most Recent Content
Macao SAR
Banking & Finance
Trade & Investment
Total Exports | USD 12.2 billion (2022) |
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Leading Exports |
Jewelry Watches Electricity Aircraft Cars |
Total Imports | USD 4.8 billion (2022) |
Leading Imports |
Jewelry Broadcasting Equipment Watches Telephones Clothing And Apparel |
Source: | World Integrated Trade Solution |
Macao SAR Leading Companies
SJM Holdings | Hotels, Resorts & Leisure |
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Sociedade de Jogos de Macau | Consumer Discretionary, Casinos & Gaming |
Melco Resorts & Entertainment | Consumer Discretionary, Casinos & Gaming |
Galaxy Entertainment Group | Consumer Discretionary, Casinos & Gaming |
Companhia de Electricidade de Macau (CEM) | Utilities |
Companhia de Telecomunicações de Macau (CTM) | Telecommunication Services |
Nam Kwong Group | Consumer Staples, Food Retailing |
Major Trade Partners — Import
Thailand | 46.7% |
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China | 22.6% |
Vietnam | 7.9% |
United States | 4.5% |
Switzerland | 4.5% |
Major Trade Partners — Export
Hong Kong | 79.2% |
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China | 13.0% |
United States | 5.0% |
Vietnam | 1.0% |
Singapore | 0.5% |
Global Finance Rankings & Awards
Data Sources:
UN World Population Prospects
World Inequality Report
S&P Global Ratings
Moody’s
Fitch Ratings
IMF Direction of Trade Statistics (DOTS)
UN Conference on Trade and Development (UNCTAD)
CIA The World Factbook
World Bank’s World Integrated Trade Solution
Forbes Global 2000