Information from the Statistics and Census Service (DSEC) indicated that Gross National Income (GNI) at current prices was MOP 380.23 billion in 2014, lower than Gross Domestic Product (GDP) at current prices (MOP 443.30 billion) by MOP 63.07 billion, representing a net external factor income outflow of the same amount, and equivalent to 14.2% of GDP. In 2014, per-capita GNI was MOP 611,999 and per-capita GDP was MOP 713,514.
Total outflow of external factor income reflects income earned by non-resident enterprises and investors from investment in Macao. In 2014, total outflow of external factor income reached MOP 98.13 billion, up by 11.9% year-on-year, mainly due to a 7.7% increase in direct investment income (MOP 85.11 billion) earned by some non-resident enterprises and investors from investment in Macao. Other investment income (MOP 10.50 billion) and portfolio investment income (MOP 759 million) also increased by 47.8% and 103.4% respectively.
Total inflow of external factor income reflects income earned by resident enterprises and investors from abroad. In 2014, total inflow of external factor income rose by 53.5% year-on-year to MOP 35.06 billion, attributable to a 85.9% increase in portfolio investment income (MOP 13.40 billion) and a 38.0% rise in other investment income (MOP 19.49 billion) earned by some resident enterprises and investors from abroad. Meanwhile, direct investment income (MOP 829 million) and income on reserve assets (MOP 1.34 billion) also increased by 170.2% and 11.8% respectively year-on-year.
As export prices of goods and services grew more than the import prices of goods and services, the external real purchasing power of Macao rose, which was reinforced by the decrease in the net outflow of external factor income over 2013, GNI increased by 6.7% in real terms and per-capita GNI also rose by 1.8% in real terms.
GNI refers to the total income earned by residents of an economy from engaging in various economic activities within or outside the economy, corresponding to GDP plus income earned by resident investors from abroad, minus income earned by non-resident investors from investment in Macao.
