Economy

COVID-19 quarantine waiver extended to 8 more GBA cities  (Update)

The Macao government said in a statement today that from 8 am Monday (6 July) Macao residents entering Zhuhai can visit the eight other mainland cities in the GBA.

5 Jul, 2020

Macao airport passengers drop 99.7% in June 

The Macau International Airport's number of passengers fell 99.76% year-on-year to 1,836 in June.

4 Jul, 2020

UM predicts this year’s GDP will drop almost 60% due to COVID-19 pandemic

Due to the COVID-19 pandemic, it now forecasts that Macao’s economy will drop by between 55.7% and 59.1% this year, in which case its gross domestic product (GDP) will return to the level it was in 2005 or 2004 in real terms.

2 Jul, 2020

Imports fall 39% in May, exports drop 24%

Macao's merchandise imports fell by 39.1 percent year-on-year in May, while exports dropped by 24.2 percent .

30 Jun, 2020

Joint Announcement of People’s Bank of China

Joint Announcement of People’s Bank of China, Hong Kong Monetary Authority, and Monetary Authority of Macao on Launch of Cross-boundary Wealth Management Connect Pilot Scheme in Guangdong-Hong Kong-Macao Greater Bay Area

30 Jun, 2020

COVID-19 pushes up jobless rate

The economic impact of COVID-19 pushed up Macao residents' unemployment rate by 0.3 percentage points to 3.4% between March and May from the February–April survey period.

28 Jun, 2020

Macao economy to drop 69.8% and reach pre-crisis levels only in late 2021 – Economist

The Economist Intelligence Unit (EIU) forecasts a 69.8% contraction of Macao's economy in 2020, which should only recover to pre-crisis levels in late 2021.

24 Jun, 2020

Consumption cards inject MOP 1.46 billion into economy

Some MOP 1.46 billion from the public coffers have already been injected into local businesses in the first month and a half of the government’s consumption subsidy smartcard scheme.

23 Jun, 2020

Ho orders 10% cut in current expenditure for 2021

Chief Executive Ho Iat Seng has ordered a 10% decrease in current expenditure in the public administration next year.

23 Jun, 2020

Forex reserves rise 2.4% to US$22.95 billion in May

Macao’s foreign exchange reserves amounted to MOP 183.3 billion (US$22.95 billion) at the end of last month, the Monetary Authority of Macao (AMCM) said in a statement on Monday.

16 Jun, 2020

Macao’s newly approved residential mortgage loans drop by 35.1% in April

The new approvals of residential mortgage loans (RMLs) and commercial real estate loans (CRELs) by Macao banks both decreased in April 2020.

12 Jun, 2020

Macao to set up special Hong Kong airport ferry link during COVID-19 travel curbs

The Macao government announced today a month-long special ferry link between Macao's Pac On Ferry Terminal and the Hong Kong International Airport's SkyPier. 

10 Jun, 2020

BNU vows to help clients tackle COVID-19 impact

Macao-based Portuguese bank BNU has reaffirmed its determination to help its private and corporate clients tackle the impact of the COVID-19 pandemic on the local economy.

9 Jun, 2020

COVID-19 pandemic cuts Macao’s GDP by 48.7% in Q1

Macao's gross domestic product (GDP) dropped 48.7 per cent year-on-year in real terms in Q1.

30 May, 2020

COVID-19 pushes up locals’ jobless rate to 3.1%

Macau unemployment rate of local residents grew 0.2 percentage points to 3.1 per cent.

30 May, 2020

2nd round of COVID-19 support to start next month

Employees, the self-employed, professionals and companies will receive financial support from next month, as one of the government's measures to tackle the economic impact of the COVID-19 pandemic. 

29 May, 2020

Ex-HK CE CY Leung calls for mass exit from HSBC accounts

Former Hong Kong chief executive Leung Chun-ying, aka CY Leung, has exhorted everyone with HSBC bank accounts, especially Hong Kong officials and Hong Kong delegates to the legislative and consultative bodies in the mainland, to stop using them, to let British companies know "which side of their bread is buttered".

29 May, 2020

Imports fall 44.1% in April

Macau’s merchandise imports fell 44.1 per cent to MOP 3.84 billion last month.

29 May, 2020

Hong Kong airport transit service to resume gradually from June 1

Hong Kong Chief Executive Carrie Lam Cheng Yuet-ngor said Tuesday that Hong Kong airport transit service will gradually resume from June 1.

26 May, 2020

Thai government extended the ban on passenger flights until June 30

The newspaper Bangkok Post said Saturday that the Thai government "has extended its ban on passenger flights for another month to June 30".

17 May, 2020