MACAO

Rebounding growth

BB2

MEDIUM RISK for enterprise

  • Economic risk

  • Business environment risk

  • Political risk

  • Commercial risk

  • Financing risk

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GDP USD44.8bn 
Population 0.6mn
Form of state Limited Democracy
Head of government Chief Executive Fernando Chui Sai On
Next elections 2019, Chief Executive election
  • High income market. Macao is ranked among the top ten markets in terms of GDP per capita
  • Strong financial buffers with robust government position and large FX reserves
  • Solid banking system
  • Low level of unemployment
  • Economy highly dependent on the tourism and gaming industries
  • Vulnerability to external shocks particularly measures implemented in China
  • Poor infrastructure compared to other high income markets

Trade structure by destination/origin

(% of total)

Exports Rank Imports
Hong Kong 64%
1
37% China
China 20%
2
9% Hong Kong
Japan 3%
3
8% Italy
Philippines 3%
4
8% Switzerland
United States 2%
5
7% France

Trade structure by product

(% of total)

Exports Rank Imports
Photo apparatus, optical goods, watches and clocks 15%
1
10% Miscellaneous manufactured articles, n.e.s.
Miscellaneous manufactured articles, n.e.s. 15%
2
10% Telecommunication and sound recording apparatus
Telecommunication and sound recording apparatus 9%
3
9% Photo apparatus, optical goods, watches and clocks
Articles of apparel & clothing accessories 8%
4
6% Road vehicles
Electrical machinery, apparatus and appliances, n.e.s. 6%
5
6% Travel goods, handbags, etc.

Contact

Euler Hermes

Economic Research Team

research@eulerhermes.com

Contact Mahamoud Islam

Senior Economist for Asia

Mahamoud.Islam@eulerhermes.com

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