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 12,230 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 2020 was around 0.81%. Within the EU, the average in the same year was 2.55 percent. In the United States, it was most recently 4.70%.
Compared with the USA, prices for daily consumer goods are around 25.0 percent lower.
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.Unemployment rates in percentages 1991 - 2021
Economic performance 2021
Macao Total | Macao per capita | EU Total | EU per capita | |
---|---|---|---|---|
GDP | 30.12 bn USD | 43,873.59 USD | 17.177 tn USD | 33,384.92 USD |
Gross national product | 31.89 bn USD | 46,452.57 USD | 16.895 tn USD | 32,835.37 USD |
Development of gross domestic product in billions of USD 1982 - 2021
Imports and Exports 2021
Macao Total | Macao per capita | EU Total | EU per capita | |
---|---|---|---|---|
Imports | 15.22 bn USD | 22,163.25 USD | 8.916 tn USD | 17,329.02 USD |
Exports | 15.81 bn USD | 23,020.91 USD | 9.554 tn USD | 18,569.19 USD |
Development of imports and exports in billions of USD 2002 - 2021
Exports
Imports