Macau | Economic Forecasts | 2017-2020 Outlook

This page has economic forecasts for Macau including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the Macau economy.


Overview Actual Q4/17 Q1/18 Q2/18 Q3/18 2020
Unemployment Rate 2.00 2.1 2.2 2.3 2.2 2.5 percent [+]
Inflation Rate 1.39 2.7 3.1 3.3 1.6 3 percent [+]
Interest Rate 1.50 1.75 1.75 1.75 1.75 2.5 percent [+]
Balance of Trade -6203200.00 -5801107 -5765714 -5727835 -5686142 -5334080 Thousand MOP [+]
MARKETS Actual Q4/17 Q1/18 Q2/18 Q3/18 2020
Currency 8.04 7.96 7.88 7.8 7.72 6.83 [+]
GDP Actual Q4/17 Q1/18 Q2/18 Q3/18 2020
GDP Annual Growth Rate 11.50 12 12.2 12.4 12.9 6.9 percent [+]
GDP 44.80 58.5 47.17 46.05 44.92 80.38 USD Billion [+]
GDP Constant Prices 93105.00 91810 91365 91160 90866 88417 MOP Million [+]
Gross Fixed Capital Formation 18592.00 17000 18096 18936 17461 23000 MOP THO [+]
GDP per capita 51511.40 46962 51071 49360 47648 52875 USD [+]
GDP per capita PPP 96565.90 87961 95250 91961 88671 100521 USD [+]
Gross National Product 327640.20 300019 297357 294694 292032 181460 MOP Million [+]
LABOUR Actual Q4/17 Q1/18 Q2/18 Q3/18 2020
Unemployment Rate 2.00 2.1 2.2 2.3 2.2 2.5 percent [+]
Employed Persons 381.20 377 376 375 373 356 Thousand [+]
Unemployed Persons 7.70 7.83 7.88 8.03 8.13 8.91 Thousand [+]
Population 0.64 0.65 0.65 0.65 0.65 0.66 Million [+]
Labor Force Participation Rate 71.00 70.81 70.76 70.71 70.66 70.24 percent [+]
Wages 15000.00 14953 14924 14890 14854 14491 MOP/Monthly [+]
Wages In Manufacturing 15000.00 11985 12671 12947 12654 12403 MOP/Monthly [+]
PRICES Actual Q4/17 Q1/18 Q2/18 Q3/18 2020
Inflation Rate 1.39 2.7 3.1 3.3 1.6 3 percent [+]
Consumer Price Index CPI 109.69 110 110 110 110 109 Index Points [+]
Inflation Rate Mom 0.11 0.13 0.14 0.16 0.17 0.18 percent [+]
Food Inflation 1.96 2.1 2.23 2.33 2.43 2.91 percent [+]
Gdp Deflator 102.10 103 103 103 102 100 Index Points [+]
Import Prices 96.60 103 104 104 104 109 Index Points [+]
CPI Transportation 113.03 113 113 113 113 111 Index Points [+]
Export Prices 106.20 98.69 108 108 102 103 Index Points [+]
MONEY Actual Q4/17 Q1/18 Q2/18 Q3/18 2020
Interest Rate 1.50 1.75 1.75 1.75 1.75 2.5 percent [+]
Interbank Rate 0.95 0.85 0.91 0.98 1.05 1.53 percent [+]
Money Supply M1 66559.60 69000 68556 68508 68460 75600 MOP Million [+]
Money Supply M2 567686.37 472000 597517 601898 604369 477000 MOP Million [+]
Deposit Interest Rate 0.00 0.32 0.43 0.53 0.64 1.36 percent [+]
TRADE Actual Q4/17 Q1/18 Q2/18 Q3/18 2020
Balance of Trade -6203200.00 -5801107 -5765714 -5727835 -5686142 -5334080 Thousand MOP [+]
Exports 102280.00 613009 669793 777505 858918 1169395 Thousand MOP [+]
Imports 7226100.00 6734899 6680666 6639293 6594016 6211915 Thousand MOP [+]
Current Account 98442.40 174000 76422 62138 47853 29445 MOP Million [+]
Current Account to GDP 27.10 28 31 31 31 34 percent [+]
Tourist Arrivals 2486383.00 2640000 2685100 2662100 2648700 2960000 [+]
Terms Of Trade 100.40 99.79 99.7 99.8 99.81 99.57 Index Points [+]
Tourism Revenues 14749.00 13970 13891 14708 13817 14403 MOP Million [+]
Foreign Direct Investment -3480.80 -11163 -11849 -12536 -13223 -15329 MOP Million [+]
GOVERNMENT Actual Q4/17 Q1/18 Q2/18 Q3/18 2020
Government Budget Value 13794.73 13716 14500 14032 14219 13628 MOP Million [+]
Government Spending 8450.00 10202 7516 8470 7956 9837 MOP THO [+]
Government Revenues 30906.94 31204 30978 30760 30446 27819 MOP Million [+]
Fiscal Expenditure 17112.21 16959 12561 16736 15827 15416 MOP Million [+]
BUSINESS Actual Q4/17 Q1/18 Q2/18 Q3/18 2020
Industrial Production 27.10 0.76 -0.42 -3.85 -1.56 4.85 percent [+]
Industrial Production Mom 6.20 1.78 4.08 3.97 2.63 3.06 percent [+]
Manufacturing Production -12.40 -9.19 -2.68 0.75 5.78 9.84 percent [+]
Changes in Inventories 362.00 876 359 359 359 1020 MOP THO [+]
Corruption Index 51.00 53 53 53 53 56 Points [+]
Corruption Rank 46.00 44 44 43 43 39 [+]
Electricity Production 132.50 87 104 105 105 97 Gigawatt-hour [+]
CONSUMER Actual Q4/17 Q1/18 Q2/18 Q3/18 2020
Retail Sales MoM -13.30 16.06 4.65 -8.99 2.01 10.22 percent [+]
Retail Sales YoY 10.50 -3.1 15.83 16.54 17 4.8 percent [+]
Consumer Spending 23642.00 23930 23959 23982 23972 23687 MOP THO [+]
Disposable Personal Income 41423.00 42822 43031 43240 43449 39073 MOP [+]
TAXES Actual Q4/17 Q1/18 Q2/18 Q3/18 2020
Personal Income Tax Rate 12.00 12 12 12 12 12 percent [+]
Corporate Tax Rate 12.00 12 12 12 12 12 percent [+]