Investments by Macau residents in securities issued by entities in Portugal and Brazil increased by 12.1% in 2025, reaching 1.1 billion patacas (116.5 million euros).
According to data from the Monetary Authority of Macau (AMCM), overall, the external investments of Macau residents — including individuals, the Government, and other entities, but excluding the foreign exchange reserves of the Special Administrative Region — reached 1.3 trillion patacas (148.1 billion euros) at the end of 2025, up 6.3% compared to June and 16.1% relative to the end of 2024.
Among the portfolio components, equity securities totaled 354.8 billion patacas (37.6 billion euros), long-term bonds amounted to 871.3 billion patacas (92.3 billion euros), and short-term bonds reached 171.9 billion patacas (18.2 billion euros), reflecting increases of 12.1%, 16.1%, and 25.4%, respectively, compared to 2024.
The Asian region maintained the largest share of the portfolio (42.3%), followed by North America (24.6%), Europe (16.6%), the North Atlantic and Caribbean (10.6%), and Oceania (2.3%).
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Investment in securities issued by entities in mainland China accounted for 25% of the total (349.5 billion patacas; 37.0 billion euros), while Hong Kong’s share increased to 10.1% (141.2 billion patacas; 14.9 billion euros).
In the United States, Macau residents’ investments in securities reached 318.1 billion patacas (33.7 billion euros), corresponding to 22.8% of the external portfolio.
In Europe, the market value was 231.5 billion patacas (24.5 billion euros), with the largest weight in Ireland (6.9 billion euros), Luxembourg (4.9 billion euros), and the United Kingdom (4.7 billion euros).
In the North Atlantic and Caribbean, investments reached 147.7 billion patacas (15.6 billion euros), with notable shares in the British Virgin Islands (7.6 billion euros) and the Cayman Islands (7.6 billion euros).
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Meanwhile, in countries integrated into the “Belt and Road” initiative (excluding China), investments totaled 127.8 billion patacas (13.6 billion euros), representing 9.1% of the external portfolio.
“Belt and Road” is a global infrastructure and trade megaproject launched by China in 2013, which seeks to develop the country’s economic and political connections with other markets in Asia, Africa, and Europe.
