Macao GDP Annual Growth Rate

Last Release

Mar 31, 2025

Actual

-1.3

Units In

3.4

Frequency

Quarterly

Next Release

Aug 22, 2025

Time to Release

2 Months 28 Days 6 Hours

Highest	Lowest	Average	Date Range	Source
117.5 Jun 2023	-66.3 Jun 2020	8.57 %	2002-2025	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 contracted by 1.3% year-on-year in the first quarter of 2025, reversing a 3.4% gain in the previous quarter — the weakest in two years. This marked the first economic contraction since the fourth quarter of 2022, primarily due to a notable slowdown in private consumption (0.3% vs. 2.9% in Q4) and government spending (1.1% vs. 6.3%). Conversely, gross fixed capital formation (7.3% vs -0.2%) rebounded, while changes in inventories (-8% vs -9.4%) decreased at a softer pace. In terms of net external demand, the decline in goods exports (-9.2% vs -11.7%) and goods imports (-5.1% vs -7.1%) moderated. However, exports of services (-3.4% vs 2.1%) tumbled, while imports of services (2.5% vs 9.2%) grew at a slower rate.