The Monetary Authority of Macao (AMCM) releases today (29 August) the preliminary balance of payments (BOP) statistics of Macao SAR for the reference year 2024. The BOP, which comprises the current account, the capital account and the financial account, is a statistical statement that summarises external transactions of an economy with the rest of the world.   

The current account posted a surplus of MOP144.3 billion in 2024, amid an increment in exports of travel services

In 2024, exports of goods and imports of goods (f.o.b.) decreased year-on-year by 12.1% and 6.1% respectively. With imports having a higher base than exports, the merchandise trade deficit lowered from MOP97.7 billion in 2023 to MOP94.4 billion in 2024. Concurrently, service exports rose by 10.1%, mainly driven by increasing exports of travel services, while service imports increased by 9.3%. Hence, the services account surplus expanded from MOP247.9 billion in 2023 to MOP273.2 billion in 2024.

The primary income account, which reflects cross-border flows of factor income, recorded a net outflow of MOP4.7 billion in 2024; of which, inflows went up from MOP107.4 billion in 2023 to MOP110.0 billion in 2024, whereas outflows dropped from MOP117.5 billion in 2023 to MOP114.7 billion in 2024. Meanwhile, the secondary income account, which comprises current transfers between Macao residents and non-residents, recorded a net outflow of MOP29.8 billion in 2024, marking an increase of MOP5.0 billion from the net outflow in 2023.

As the invisible trade surplus offset the deficit in merchandise trade as well as the net outflows of primary and secondary income, the current account recorded a surplus of MOP144.3 billion in 2024, up by MOP28.8 billion from MOP115.4 billion in 2023. 

Reserve assets rose by MOP2.3 billion in 2024 and the overall BOP registered a surplus of the same amount

In the financial account, financial non-reserve assets registered a net outflow of MOP161.2 billion in 2024, representing an increment of MOP84.7 billion when compared to the net outflow in 2023. Within this total, direct investment continued to record a net inflow, which decreased from MOP9.3 billion in 2023 to MOP4.6 billion in 2024. On the other hand, the net outflow of portfolio investment expanded from MOP150.2 billion in 2023 to MOP185.7 billion in 2024 as external securities investment held by Macao residents (excluding Macao SAR’s foreign exchange reserves) increased. Concurrently, financial derivatives registered a net outflow of MOP0.4 billion in 2024.  On the other hand, a net inflow was maintained in other investment, which declined from MOP63.9 billion in 2023 to MOP20.3 billion in 2024, as Macao residents’ other external assets fell faster than other external liabilities.

Reserve assets in the financial account record the net change in Macao’s foreign exchange reserves held by the AMCM. Reserve assets, after price, exchange rate and other adjustments, rose by MOP2.3 billion, implying that the overall BOP registered a surplus of the same amount in 2024.

Macao’s BOP statistics are compiled in accordance with the Balance of Payments and International Investment Position Manual (Sixth Edition) of the International Monetary Fund.  The current release incorporates preliminary estimates of key statistics, while a statistical report with more comprehensive data will be published in December 2025. 

Recent research reports and publications of the AMCM are available on:

https://www.amcm.gov.mo/en/research-statistics/research-and-publications