- Economic overview
- high-income, Chinese special administrative region economy; known for apparel exports and gambling tourism; currency pegged to Hong Kong dollar; significant recession due to 2015 Chinese anticorruption campaign; COVID-19 further halved economic activity
- Real GDP (purchasing power parity)
- Real GDP (purchasing power parity) 2024: $77.524 billion (2024 est.)
Real GDP (purchasing power parity) 2023: $71.248 billion (2023 est.)
Real GDP (purchasing power parity) 2022: $40.699 billion (2022 est.)
note: data in 2021 dollars - Real GDP growth rate
- Real GDP growth rate 2024: 8.8% (2024 est.)
Real GDP growth rate 2023: 75.1% (2023 est.)
Real GDP growth rate 2022: -19.6% (2022 est.)
note: annual GDP % growth based on constant local currency - Real GDP per capita
- Real GDP per capita 2024: $112,800 (2024 est.)
Real GDP per capita 2023: $105,000 (2023 est.)
Real GDP per capita 2022: $60,100 (2022 est.)
note: data in 2021 dollars - GDP (official exchange rate)
- $50.183 billion (2024 est.)
note: data in current dollars at official exchange rate - Inflation rate (consumer prices)
- Inflation rate (consumer prices) 2023: 0.5% (2023 est.)
Inflation rate (consumer prices) 2022: 1% (2022 est.)
Inflation rate (consumer prices) 2021: 0% (2021 est.)
note: annual % change based on consumer prices - GDP - composition, by sector of origin
- industry: 5.4% (2023 est.)
services: 91.4% (2023 est.)
note: figures may not total 100% due to non-allocated consumption not captured in sector-reported data - GDP - composition, by end use
- household consumption: 29% (2024 est.)
government consumption: 12.2% (2024 est.)
investment in fixed capital: 13.8% (2024 est.)
investment in inventories: 0.7% (2024 est.)
exports of goods and services: 89.8% (2024 est.)
imports of goods and services: -45.4% (2024 est.)
note: figures may not total 100% due to rounding or gaps in data collection - Agricultural products
- pork, chicken, beef, eggs, pork offal, pork fat, pepper, beef offal, cattle hides, goose meat (2023)
note: top ten agricultural products based on tonnage - Industries
- tourism, gambling, clothing, textiles, electronics, footwear, toys
- Industrial production growth rate
- 6.8% (2023 est.)
note: annual % change in industrial value added based on constant local currency - Labor force
- 382,100 (2024 est.)
note: number of people ages 15 or older who are employed or seeking work - Unemployment rate
- Unemployment rate 2024: 2.5% (2024 est.)
Unemployment rate 2023: 2.3% (2023 est.)
Unemployment rate 2022: 2.5% (2022 est.)
note: % of labor force seeking employment - Youth unemployment rate (ages 15-24)
- total: 7.2% (2024 est.)
male: 9.4% (2024 est.)
female: 5.6% (2024 est.)
note: % of labor force ages 15-24 seeking employment - Remittances
- Remittances 2023: 0.2% of GDP (2023 est.)
Remittances 2022: 0.4% of GDP (2022 est.)
Remittances 2021: 0.2% of GDP (2021 est.)
note: personal transfers and compensation between resident and non-resident individuals/households/entities - Budget
- revenues: $12.513 billion (2023 est.)
expenditures: $11.509 billion (2023 est.)
note: central government revenues (excluding grants) and expenditures converted to US dollars at average official exchange rate for year indicated - Public debt
- Public debt 2016: 0% of GDP (2016 est.)
- Taxes and other revenues
- 22.8% (of GDP) (2023 est.)
note: central government tax revenue as a % of GDP - Current account balance
- Current account balance 2023: $14.38 billion (2023 est.)
Current account balance 2022: $3.476 billion (2022 est.)
Current account balance 2021: $2.705 billion (2021 est.)
note: balance of payments - net trade and primary/secondary income in current dollars - Exports
- Exports 2023: $41.839 billion (2023 est.)
Exports 2022: $21.097 billion (2022 est.)
Exports 2021: $28.163 billion (2021 est.)
note: balance of payments - exports of goods and services in current dollars - Exports - partners
- Hong Kong 73%, China 6%, USA 6%, Philippines 3%, Singapore 1% (2023)
note: top five export partners based on percentage share of exports - Exports - commodities
- jewelry, garments, broadcasting equipment, precious metal watches, video and card games (2023)
note: top five export commodities based on value in dollars - Imports
- Imports 2023: $23.205 billion (2023 est.)
Imports 2022: $20.923 billion (2022 est.)
Imports 2021: $23.77 billion (2021 est.)
note: balance of payments - imports of goods and services in current dollars - Imports - partners
- China 36%, Hong Kong 17%, USA 6%, France 6%, Japan 5% (2023)
note: top five import partners based on percentage share of imports - Imports - commodities
- jewelry, garments, trunks and cases, broadcasting equipment, electricity (2023)
note: top five import commodities based on value in dollars - Reserves of foreign exchange and gold
- Reserves of foreign exchange and gold 2024: $29.392 billion (2024 est.)
Reserves of foreign exchange and gold 2023: $27.771 billion (2023 est.)
Reserves of foreign exchange and gold 2022: $25.971 billion (2022 est.)
note: holdings of gold (year-end prices)/foreign exchange/special drawing rights in current dollars - Exchange rates
- Currency: patacas (MOP) per US dollar -
Exchange rates 2024: 8.037 (2024 est.)
Exchange rates 2023: 8.063 (2023 est.)
Exchange rates 2022: 8.065 (2022 est.)
Exchange rates 2021: 8.006 (2021 est.)
Exchange rates 2020: 7.989 (2020 est.)