2015 Gross National Income down to MOP333.58 billion

The city’s Gross National Income (GNI) for 2015 reached MOP333.58 billion (US$41.76 billion), according to the latest data released by the Statistics and Census Service (DSEC).
The figure represents a decrease of 13.5 per cent year-on-year for GNI, compared to the previous year’s MOP378.78 billion.
GNI refers to the gross domestic product (GDP) of a territory, adding income earned by resident investors from overseas, minus income earned by non-resident investors from investments made in Macau.

GDP down
After taking into account adjusted inflation according to current prices, Macau’s GDP for 2015 decreased by 21.5 per cent year-on-year, to MOP362.64 billion, compared to the previous year’s MOP442.07 billion.
The rate of decrease in Gross National Income was smaller than that of the GDP for the year, which the service attributes as mainly being due to the 33 per cent decrease in external factor income outflow in 2015.
The GNI for 2015 was also smaller than the GDP registered for the same period in real terms by MOP29.06 billion, indicating a net external factor income outflow of the same amount equivalent to 8 per cent of GDP in 2015, smaller than the value recorded the previous year, which amounted to 14.3 per cent, the statistics service explained.
Both per-capita GNI and per-capita GDP for 2015 decreased by 16.2 per cent (down to MOP520,004) and 23.9 per cent (down to MOP565,301) year-on-year, respectively.

Components of GNI
Breaking down the major components of GNI, the total inflow of external factor income for 2015 increased to MOP36.71 billion, a year-on-year improvement of 5.3 per cent when compared to the previous year’s MOP34.86 billion.
The increase was also attributed to the inflow of portfolio investment income, which reached MOP14.39 billion, up by 8.4 per cent year-on-year.
In addition, the increase also boosted a 3.8 per cent rise in other investment income inflow to MOP20.15 billion year-on-year.
At the same time, the inflow of direct investment income increased to MOP938 million, up by 14.2 per cent year-on-year.
On the other hand, the total outflow of external factor income for 2015 decreased to MOP65.77 billion, a drop of 33 per cent year-on-year.
This was largely due to a decrease in direct investment income, down by 39.9 per cent year-on-year, to MOP51.33 billion, compared to MOP85.39 billion in 2014, indicating a fall in income earned by certain non-resident companies and investors from investments in the territory.
However, the outflow of portfolio investment income increased to MOP965 million, up by 27.1 per cent year-on-year.
In addition, the outflow of other investment income also went up by 12.2 per cent to MOP11.55 billion year-on-year.