Macao SAR, China Budget Deficit
General government net lending/borrowing as % of GDP GGXCNL_NGDP
Macao SAR, China's budget deficit was 4.13% in 2025, ranked 8th globally. This represents a 40.2% decrease from 2024. Data from IMF WEO, covering 2001–2025.
Overview
Macao SAR, China's budget deficit stood at 4.13% in 2025, a decline of +2.78% from 2024. The IMF projects 4.13% by 2025. Macao SAR, China ranked 8th globally.
Macao SAR’s general‑government budget deficit has fluctuated markedly over the 25‑year series, moving from a modest 3.26 percent of GDP in 2001 to an extreme swing of ‑37.03 percent in 2022, the deepest surplus recorded in the sample. The sharpest deficit surge occurred in 2013, when the shortfall peaked at 26.99 percent, reflecting the fiscal strain of that period’s economic slowdown. By 2025 the deficit had narrowed to 4.13 percent, ranking the jurisdiction eighth globally for the indicator, and situating it above peers such as Samoa (5.00 percent) and the United Arab Emirates (5.08 percent) but below Nauru (3.59 percent). The recent contraction suggests that fiscal consolidation measures and a rebound in tourism revenues are bearing fruit, yet the volatility of external shocks means that future deficits will hinge on the resilience of the service sector and the effectiveness of revenue‑raising reforms.
Data & projection
| Year | Budget Deficit | YoY change | Rank |
|---|---|---|---|
| 2030* IMF | 8.27% | - | - |
| 2029* IMF | 7.87% | - | - |
| 2028* IMF | 7.47% | - | - |
| 2027* IMF | 7.07% | - | - |
| 2026* IMF | 5.56% | - | - |
| 2025* IMF | 4.13% | - | - |
| 2025 | 4.13% | −2.78% | #8 |
| 2024 | 6.91% | +5.84% | #183 |
| 2023 | 1.07% | +38.11% | #161 |
| 2022 | -37.04% | −24.14% | #1 |
| 2021 | -12.89% | +8.52% | #7 |
| 2020 | -21.41% | −35.85% | #4 |
| 2019 | 14.44% | +1.11% | #190 |
| 2018 | 13.33% | +0.05% | #188 |
| 2017 | 13.27% | +1.86% | #188 |
| 2016 | 11.42% | −2.40% | #186 |
| 2015 | 13.82% | −10.34% | #188 |
| 2014 | 24.16% | −2.83% | #189 |
| 2013 | 26.99% | +3.01% | #190 |
| 2012 | 23.98% | −0.69% | #188 |
| 2011 | 24.67% | +5.27% | #188 |
Detected Pattern
Analysis
Macao SAR, China matched the Export Boom Cycle pattern in 2011. Historically, 71% of countries showing this pattern (546 out of 768) saw budget deficit improve within 24 months. View full analysis →
Frequently Asked Questions
Macao SAR, China's budget deficit was 4.13% in 2025. Ranked 8th globally. This represents a 40.2% decrease from the previous year.
Macao SAR, China's budget deficit peaked at 26.99% in 2013.
The lowest budget deficit in Macao SAR, China was -37.04% in 2022.
Macao SAR, China ranks 8th globally in budget deficit as of 2025.
The World Bank indicator code is GGXCNL_NGDP. Data sourced from IMF WEO.
Macao SAR, China's budget deficit is projected to reach 4.13% by 2025 based on IMF projection.
The budget deficit of Macao SAR, China in 2025 was 4.13%. This ranks 8th in the world.
Cite this page
@misc{historysaid_macao-sar-china_budget-deficit,
title = {Macao SAR, China Budget Deficit},
url = {https://historysaid.com/macao-sar-china/budget-deficit/},
publisher = {HistorySaid},
year = {2026}
}