Macau last year posted a balance of payments surplus of 10.9 billion patacas (€1.4 billion), according to a preliminary estimate released today by the Macau Monetary Authority (AMCM)
The positive balance of 23.7 billion patacas (€3.05 billion) in the current account contributed mainly to the result, the AMCM said in a statement.
The same statement noted the deficit in the goods account, which increased from 61.5 billion patacas (€7.92 billion) in 2020 to 85.6 billion patacas (€11.02 billion) in 2021, as “the base value of imports was higher than exports.
However, the same entity noted, this negative result was offset by the 60.1 percent rise in the total value of exports of services, widening the surplus in the services account between 2020 and 2021 from 66.2 billion patacas (8.52 billion euros) to 116.3 billion patacas (15 billion euros).
The overwhelming majority of Macau’s service exports are related to the gaming sector.
Macau’s casinos in 2021 generated revenues of 86.8 billion patacas (€9.5 billion), up 43.7 percent year-on-year.
On the other hand, there was a decrease of 10.1 billion patacas (€1.3 billion) in net financial assets, a measure that does not include Macau’s financial reserve.
The financial reserve of the Chinese special administrative region rose in value in 2021, but in the first seven months of this year lost 16.9 billion patacas (€2.17 billion euros).