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Macao’s economy could grow by more than 20 percent next year 

That’s the most optimistic projection made in the University of Macau’s economic forecast for 2024, but much depends on how many tourists the territory can attract.

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UPDATED: 30 Dec 2023, 3:35 pm

The total value of goods exported from Macao amounted to 12.25 billion patacas across the first 11 months of the year, a 3.5 percent year-on-year decrease, official figures show.

Domestic exports – which make up 12 percent of the total – dropped by 24 percent year-on-year over the period, to 1.42 billion patacas. In November alone, they decreased by 42 percent.

Macao’s merchandise trade deficit meanwhile swelled by 2.23 billion patacas year-on-year to stand at 117.45 billion patacas for the first eleven months of 2023.

[See more: Macao’s economy could grow by more than 20 percent next year]

Merchandise exports to mainland China amounted to 884 million patacas between January and November – a 28 percent decline, year-on-year. Exports to Hong Kong totalled 8.98 billion patacas, down by eight percent for the period.

Exports to Portuguese-speaking countries totalled just 664,000 patacas between January and November, a 58 percent slide.

Re-exports (the bulk of Macao’s merchandise exports) stayed steady overall. They totalled 10.83 billion patacas for the first 11 months of the year.

UPDATED: 30 Dec 2023, 3:35 pm

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