Macao SAR

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
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

Banking & Finance

Trade & Investment

Total Exports USD 12.2 billion (2022)
Leading Exports Jewelry
Total Imports USD 4.8 billion (2022)
Leading Imports Jewelry
Broadcasting Equipment
Clothing And Apparel                                                                      
Source: World Integrated Trade Solution

Macao SAR Leading Companies

SJM Holdings Hotels, Resorts & Leisure
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%
China 22.6%
Vietnam 7.9%
United States 4.5%
Switzerland 4.5%

Major Trade Partners — Export

Hong Kong 79.2%
China 13.0%
United States 5.0%
Vietnam 1.0%
Singapore 0.5%

Data Sources:

IMF World Economic Outlook

UN World Population Prospects

World Inequality Report

S&P Global Ratings


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