The Monetary Authority of Macao (AMCM) has announced a remarkable current account surplus of MOP 136.7 billion for 2023, highlighting a strong recovery in travel service exports. This substantial figure marks an increase of MOP113.8 billion from the previous year’s surplus of MOP 22.9 billion.
While exports of goods fell by 27.1%, imports rose by 2.3%, widening the merchandise trade deficit from MOP78.2 billion in 2022 to MOP98.7 billion in 2023. In contrast, service exports surged by 186.9%, primarily due to the revival of travel services, leading to a services account surplus that expanded dramatically from MOP75.5 billion to MOP263.4 billion.
The primary income account recorded a net outflow of MOP4.5 billion, with inflows rising significantly to MOP108.9 billion. The secondary income account also experienced a net outflow of MOP23.6 billion, reflecting increased current transfers.
Overall, Macau’s BOP statistics indicate a robust economic recovery, with reserve assets increasing by MOP4.4 billion. A more detailed report is expected to be released in December 2024, providing further insights into these trends.
