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Macao Snapshot - PESTLE, SWOT, Risk and Macroeconomic Analysis report is designed to provide in-depth information about Macao including it’s PESTLE (political, economic, social, technological, legal and environmental), SWOT (Strengths, Weaknesses, Opportunities and Threats) and country risk analysis backed by macroeconomic data.
Macao, officially Macao Special Administrative Region (MSAR) of the People's Republic of China (PRC), is a city and special administrative region of China in the western Pearl River Delta by the South China Sea. It was earlier a Portuguese colony, and in 1999 it was transferred to China.
Macao is expected to have a population of 0.709 million in the year 2023 and expected to reach 0.742 million by 2027, growing at a CAGR of 1.14%.
Macao’s real gross domestic product (GDP) was MOP 204.41 billion in 2020 and while recovering from the COVID-19 impact it increased by 15.25% to be around MOP 241.184 billion in 2021. It is further expected to increase by 11.57% and reach MOP 465.126 billion by 2027.
Macao’s unemployment rate was 3% of total labor force in 2022. It is expected to decrease at a CAGR of 8.92% and reach 1.88% by 2027.
Macao’s per capita GDP was USD 33,608.412 whereas purchasing power parity (PPP) based per capita GDP was USD 57,929.408 for the year 2022.
In 2022, Macao government’s revenue was MOP 58.332 billion whereas the expenditure was MOP 122.705 billion. This resulted in Macao government’s net lending / borrowing negative at MOP 64.373 billion in 2022 indicating that not enough financial resources were made available by the Macao government to boost economic growth.
The current account balance for Macao was negative at USD 0.571 billion for the year 2022 and is expected to increase at a CAGR of 306.48% and reach positive USD 21.428 billion by 2027. This positive current account balance indicates that Macao will become a net lender to rest of the world till 2027.
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