Macao GDP Annual Growth Rate

Last Release

Dec 31, 2024

Actual

3.4

Units In

4.7

Frequency

Quarterly

Next Release

May 23, 2025

Time to Release

1 Months 21 Days 8 Hours

Highest	Lowest	Average	Date Range	Source
117.5 Jun 2023	-66.3 Jun 2020	8.68 %	2002-2024	N/A

Macau, a former Portuguese colony, has become a special administrative region of China since 1999. After opening of its borders to Chinese citizens and liberalization of the gaming industry in 2001, it has become the world’s largest casino market. As a result, gaming accounts for 50 percent of GDP, 84 percent of fiscal revenues and around 21 percent of the workforce. Given Macau’s semi-autonomous status inside China, large gaming industry and relaxed tax laws, it has become a base for wealthy investors especially from Mainland China. Attempts to diversify the economy while limiting casino growth have been fairly unsuccessful.

Latest Updates

Macau’s economy expanded by 3.4% year-on-year in Q4 of 2024, slowing from a downwardly revised 3.8% increase in the previous quarter. This marked the eighth consecutive quarter of growth but the softest in the sequence, due to a slowdown in exports of services (2.1% vs 2.5% in Q3), particularly in gaming services (4.3% vs 13.1%), while imports of goods declined further (-7.1% vs -5.7%). Moreover, gross fixed capital formation tumbled (-0.2% vs 13.8%). Meanwhile, private consumption (2.9% vs 1.4%) increased further and government final consumption expenditure rebounded (6.3% vs -0.6%), while changes in inventories decreased less (-9.4% vs -10.7%). For the whole year of 2024, the economy of Macau advanced by 8.8%, easing sharply from a downwardly revised 75.1% surge in the previous year.