The Monetary Authority of Macao (AMCM) today (29 August) released 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 summarising an economy's external transactions with the rest of the world.

In 2024, the current account posted a surplus of MOP 144.3 billion, supported by an increase in exports of travel services.

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 narrowed from MOP 97.7 billion in 2023 to MOP 94.4 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%. As a result, the services account surplus expanded from MOP 247.9 billion in 2023 to MOP 273.2 billion in 2024.

The primary income account, which reflects cross-border flows of factor income, recorded a net outflow of MOP 4.7 billion in 2024. Inflows rose from MOP 107.4 billion in 2023 to MOP 110.0 billion in 2024, whereas outflows decreased from MOP 117.5 billion in 2023 to MOP 114.7 billion in 2024. The secondary income account, comprising current transfers between Macao residents and non-residents, recorded a net outflow of MOP 29.8 billion, up by MOP 5.0 billion compared with 2023.

As the invisible trade surplus offset the merchandise trade deficit and the net outflows of primary and secondary income, the current account recorded a surplus of MOP 144.3 billion in 2024, up by MOP 28.8 billion from MOP 115.4 billion in 2023.

Reserve assets increased by MOP 2.3 billion in 2024, resulting in an overall BOP surplus of the same amount.

In the financial account, financial non-reserve assets registered a net outflow of MOP 161.2 billion, an increase of MOP 84.7 billion compared with 2023. Within this total, direct investment continued to record a net inflow, which decreased from MOP 9.3 billion in 2023 to MOP 4.6 billion in 2024. Conversely, the net outflow of portfolio investment expanded from MOP 150.2 billion in 2023 to MOP 185.7 billion, as external securities investment held by Macao residents (excluding Macao SAR’s foreign exchange reserves) increased. Financial derivatives recorded a net outflow of MOP 0.4 billion. Net inflows in other investment declined from MOP 63.9 billion in 2023 to MOP 20.3 billion in 2024, as Macao residents’ other external assets decreased faster than other external liabilities.

Reserve assets in the financial account represent the net change in Macao’s foreign exchange reserves held by the AMCM. After price, exchange rate, and other adjustments, reserve assets increased by MOP 2.3 billion, resulting in an overall BOP 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 (IMF). The current release incorporates preliminary estimates of key statistics, while a more comprehensive statistical report will be published in December 2025.

Recent research reports and publications of the AMCM are available at:
https://www.amcm.gov.mo/en/research-statistics/research-and-publications