Information from the Statistics and Census Service (known by the Portuguese initials DSEC) shows that gross national income (GNI) increased in Macao by 9.4 percent year-on-year in real terms to 392.81 billion patacas in 2024.
The DSEC says the sum is 4.75 billion patacas less than gross domestic product (GDP) at current prices (397.56 billion patacas), representing a net external factor income outflow. In 2024, per-capita GNI was 572,614 patacas while per-capita GDP was 579,533 patacas, the bureau adds.
GNI refers to the total income earned by residents (including individuals and institutions) of an economy from engaging in various economic activities within or outside the economy. It corresponds to GDP plus the total inflow of external factor income (that is, income earned by Macao people who are abroad), minus total outflow of external factor income (or income earned by people whose place of permanent domicile is not Macao).
According to the DSEC, the total inflow of income earned by Macao people abroad rose by 3 percent year-on-year to 111.77 billion patacas in 2024, on account of a 22.3 percent growth in portfolio investment income earned by resident enterprises and investors from abroad (35.55 billion patacas).
[See more: Macao’s economy is forecast to grow by 5.4 percent this year]
Income on reserve assets (10.29 billion patacas), direct investment income (1.48 billion patacas) and compensation of employees (139.8 million patacas) hiked by 14.1, 75.6 and 122.1 percent respectively.
On the other hand, the total outflow of income earned by people in Macao who are not permanent residents of the SAR decreased by 2.5 percent year-on-year to 116.52 billion patacas, mainly due to an 8.4 percent drop in other investment income earned by non-resident enterprises and investors in the Macao SAR (38.20 billion patacas).
With increasingly frequent exchanges between the Macao SAR and Hengqin, income earned by Macao enterprises and investors in the Cooperation Zone in Hengqin stood at 761.4 million patacas in 2024, mainly comprising direct investment income (621.6 million patacas) and compensation of employees (139.8 million patacas).
Meanwhile, direct investment income earned in the Macao SAR by enterprises and investors from the Cooperation Zone amounted to 29.6 million patacas, resulting in a net factor income inflow of 731.7 million patacas to the Macao SAR from the Cooperation Zone, up by percent year-on-year.
