Per-capita GNI grows 14 percent in 2013

Women smile as they walk past stores in Macau

It may not directly reflect Macau residents’ salaries, but figures from the Statistics and Census Service (DSEC) show that the 2013 Gross National Income (GNI) per-capita in Macau has increased by 14.2 percent compared to the previous year, reaching MOP586,681.
GNI refers to the total income earned by residents of an economy from engaging in various economic activities within or outside the economy. This corresponds to GDP plus income earned by resident investors from abroad, minus income earned by non-resident investors from investment in Macau.
According to DSEC, the 2013 GNI at current prices was MOP347.78 billion, rising by 18.9 percent compared to previous years. The number is MOP65.69 billion lower than the Gross Domestic Product (GDP) at current prices of MOP413.47 billion. The difference between the two figures indicated that there is a net external factor income outflow of the same amount, which is 15.9 percent of GDP. The GDP per-capita was MOP697,502, up by 15.6 percent.
DSEC also found that the total outflow of external income in 2013 was MOP87.7 billion, up 26.2 percent year-on-year. The number reflects the income earned by non-resident enterprises and investors from investment in Macau. The rise of this figure is mainly due to a 30.2 percent increase in direct investment income of MOP78.96 billion earned by some non-resident enterprises and investors from investment in Macau. The portfolio investment income and other investment income in 2013, which were MOP373 million and MOP7.21 billion, also increased by 82.9 percent and 0.4 percent respectively.
Meanwhile, the total inflow of external factor income, which represents the income earned by resident enterprises and investors from abroad, also rose by 18.6 percent year-on-year, hitting MOP22.01 billion. The increase can be attributed to a 43.3 percent increase in portfolio investment income and a 22.7 percent rise in other investment income earned by some resident enterprises and investors from abroad.
After removing the effect of prices, GNI and GDP increased by 15.8 percent and 11.9 percent in real terms year-on-year, and the per-capita GNI and per-capita GDP rose by 11.1 percent and 7.4 percent respectively. JPL