Industrial structure of the Macao SAR 2024

MACAU, November 28 - Information from the Statistics and Census Service (DSEC) indicated that Gross Value Added of all economic activities in the Macao Special Administrative Region (Macao SAR) expanded by 8.2% year-on-year in real terms to MOP384.54 billion in 2024 amid the further recovery of the local economy. Gross Value Added of the tertiary sector (i.e. service sector, such as wholesale & retail trade, restaurants & similar activities, financial activities and gaming) and the secondary sector (i.e. industrial production and construction) stood at MOP365.88 billion and MOP18.66 billion respectively.

As regards industrial structure, the relative importance of the tertiary sector to the total Gross Value Added expanded by 0.8 percentage points year-on-year to 95.1% in 2024, whereas the relative importance of the secondary sector was 4.9%. Analysed by economic activity, non-gaming industries accounted for 56.7% of the total Gross Value Added, up by 7.8 percentage points from 2019.

Regarding primary distribution of income (i.e. the distribution of Gross Domestic Product (GDP) among taxes on production & imports, operating surplus and compensation of employees), Taxes on Production & Imports, Operating Surplus and Compensation of Employees rose by 21.4%, 3.6% and 6.1% year-on-year to MOP97.10 billion, MOP155.03 billion and MOP133.31 billion respectively in 2024, which accounted for 25.2%, 40.2% and 34.6% of GDP.

Industrial structure reflects the relative importance of different economic activities in terms of their respective value-added contribution to the economy. Value added refers to the value created in the process of production of an economic activity (e.g. a sector or an industry), i.e. the value of goods and services produced in the economic activity, less the value of goods and services consumed in the production process (e.g. operating expenses such as water and electricity charges and rents).