Macau SAR, China: Perfil de comércio

Foreign Trade in Figures

Macau is very open to foreign trade, which amounts to around 178% of its GDP (World Bank, latest available data). In addition to being a port zone without customs duties due to its free port status, Macau also boasts an advantageous tax system. Macau mainly exports articles of jewellery (19.9%), telephone sets (15.2%), wrist-watches, pocket-watches, and other watches (10.6%), trunks, suitcases (6.3%), and women's or girls' suits (5.4%), while imports are led by beauty or make-up preparations (13.8%), articles of jewellery (9.3%), telephone sets (8.5%), trunks, suitcases (7.6%), and wrist-watches, pocket-watches, and other watches (4.4% - data Comtrade 2022).

Macau’s largest import partners are China (30.6%), France (18.6%), Italy (10.9%), Switzerland (7.1%), the United States (6.8%), and Japan (6.4%). Exports are mostly directed towards Hong Kong (84.4%), with lower shares for China (9.3%), and the U.S. (3.8% - data Comtrade 2022). In 2003, a Closer Economic Partnership Arrangement was signed between mainland China and Macau. Though not as comprehensive as Hong Kong's, it grants Macau-based firms preferential access to the mainland market in several areas. Furthermore, in October 2017, Macau signed a CEPA with Hong Kong. In recent years, the relocation of industrial activities to mainland China, where the cost of labour and land is lower, has hindered Macau’s exports. Macau has signed agreements of avoiding double taxation with mainland China, Portugal, Mozambique, and Cape Verde, and tax information exchange agreements with many other countries. Through its political status, Macau's economy is linked to the economy and trade of mainland China. Many trade policies, including free-trade agreements, therefore give it preferred access to the Chinese market. There is little government control over export and import licences. Trade has been on the rise thanks to the process of economic diversification and the partial liberalisation of the tertiary sector. Low taxes and customs clearance on electronic goods have accelerated trading procedures. Despite these advantages, the lack of transparency in many sectors remains a major obstacle to the development of trade.

Macau has a structurally negative trade balance, a trend that is expected to continue in the coming years. According to WTO data, merchandise exports totaled USD 1.6 billion in 2022, against USD 17.3 billion in imports. However, Macau has a positive trade balance in services, with imports reaching USD 12.3 billion, much higher than the level of imports (USD 4.2 billion). Preliminary governmental figures show that, in 2023, exports decreased by 2.5% y-o-y, with domestic exports declining by 23.4% (while re-exports increased by 1.1%). On the other hand, imports were relatively stable (-0.3%). In 2023, exports of gaming services surged by 344%, while other tourism services saw a notable increase of 128%.

Main Partner Countries

Source: Comtrade, Latest Available Data

Main Products

Source: Comtrade, Latest Available Data

To go further, check out our service Import controls and Export Controls

To go further, check out our service Import-Export Flows

Main Services

Source: United Nations Statistics Division, Latest Available Data

List of tariffs and local taxes that apply to your product on our service Customs Duties

Trade Compliance

International Conventions

Member of the World Trade Organization (WTO)

International Economic Cooperation

Member of Asia-Pacific Economic Cooperation

Party of the ATA Convention on Temporary Admissions and Use of the Carnets

Yes

As a Reminder, the ATA is a System Allowing the Free Movement of Goods Across Frontiers and Their Temporary Admission Into a Customs Territory With Relief From Duties and Taxes. The Goods Are Covered By a Single Document Known as the ATA Carnet That is Secured By an International Guarantee System.

Useful Resources

Department of Customs

 

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Latest Update: May 2024