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Indicators of economy in Macao

The essential economic performance of a country is reflected by the gross domestic product, the total of all goods and services sold. Worldwide gross domestic product in 2021 was at about 12,183 USD per capita. GDP in Macao, on the other hand, reached USD 43,874 per capita, or 30.12 billion USD for the whole country. Macao is therefore currently ranked 101 of the major economies. If this is calculated per inhabitant, taking purchasing power parity into account, then Macao ranks 10th in the list of the richest countries.

Inflation in Macao in 2022 was around 1.05%. Within the EU, the average in the same year was 9.22 percent. In the United States, it was most recently 8.00%.

The index for perceived corruption in the public sector is 51, which is rather mediocre by global standards.


Back to overview: Macao

Impact of the COVID-19 pandemic

The consequences of the COVID pandemic were drastic in Macao. Overall, gross domestic product in 2020 fell from 55.20 billion US dollars to 25.46 billion US dollars. With such a substantial drop of 53.88 percent, the economy in Macao is struggling far more than other countries. The tourism sector alone slumped by around 77 percent. The unemployment rate rose from 1.8 to 2.6 percent. The inflation rate fell from 2.8 percent previously to 0.8 percent by the end of 2020.

In 2021, there was already a recovery and the gross domestic product increased to 30.12 billion US dollars (=54.6% of 2019).

Income and purchasing power

The average monthly income in Macao is 3,871 US Dollar per capita. In the USA, the figure is 5,911 US Dollar. However, the prices of consumer goods are also around 33.3 percent lower than in the USA. If you compare income and price levels, the result is a more expensive life in Macao than in the United States. The bottom line is that the costs do not offset the lower income, and you get about 1.8 percent less.

However, it is also important to remember that this is a purely statistical model. Both the labor output and the type and quality of the goods received always correspond to the national average on both sides of the equation - so they do not necessarily have to match. Here you can also find an international comparison of cost of living and purchasing power.

Unemployment rates in percentages 1991 - 2022

Economic performance 2021

 Macao
Total		Macao
per capita		EU
Total		EU
per capita
GDP30.12 bn USD43,873.59 USD17.177 tn USD33,384.92 USD
Gross national product31.89 bn USD46,452.57 USD16.895 tn USD32,835.37 USD


Development of gross domestic product in billions of USD 1982 - 2021


› Development of inflation
› Corruption in Macao
› Cost of living in a global comparison


Imports and Exports 2021

 Macao
Total		Macao
per capita		EU
Total		EU
per capita
Imports15.22 bn USD22,163.25 USD8.916 tn USD17,329.02 USD
Exports15.81 bn USD23,020.91 USD9.554 tn USD18,569.19 USD


Development of imports and exports in billions of USD 2002 - 2021

Exports
Imports



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