Macao SAR, China: Social contributions (current LCU)

Key figures

What the numbers say

In 2024, Macao SAR, China's social contributions (current LCU) rose 0.7% on 2023 (from 475.52 million to 479.01 million).

Across the 27 yearly changes before that (1997 to 2023), the average change was +12.4% and a typical year strayed about 29.8% from that (the standard deviation). This year's change was 0.4 standard deviations below that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.

On record, the biggest yearly rise was 100.1% in 2017 and the biggest yearly fall was 40.7% in 2012. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.

From 2015 to 2024 the straight-line trend is upward, about 32.08 million a year. A straight line explains 69% of the movement over 10 observed years.

Worked out from the yearly values above. How the checks work: standard deviation, z-scores and straight-line trends.

How it compares

In 2024, Macao SAR, China had the 67th highest value of the 68 economies reporting that year. Higher is not always better: for some indicators the lowest value is the one to aim for. See the full ranking.

Closest to Macao SAR, China in the 2024 ranking

• Mozambique — 64th of 68: 1.85 billion
• Malta — 65th of 68: 1.17 billion
• El Salvador — 66th of 68: 947 million
• San Marino — 68th of 68: 240.73 million

What this measures

Social contributions are actual or imputed contributions payable to social insurance schemes to make provisions for social benefits to be paid. This indicator is expressed in current prices, meaning no adjustment has been made to account for price changes over time. This series is expressed in local currency units.

Limitations: For most countries central government finance data have been consolidated into one account, but for others only budgetary central government accounts are available. Countries reporting budgetary data are noted in the country metadata. Because budgetary accounts may not include all central government units (such as social security funds), they usually provide an incomplete picture. In federal states the central government accounts provide an incomplete view of total public finance. Data on government revenue and expense are collected by the IMF through questionnaires to member countries and by the Organisation for Economic Co-operation and Development (OECD).

All 29 values

Social contributions (current LCU) in nearby economies

• China — 8.83 trillion (2024)
• Korea, Rep. — 202.27 trillion (2024)
• Mongolia — 5.28 trillion (2024)
• New Zealand — 2.95 billion (2024)
• Samoa — 13.61 million (2023)
• Thailand — 190.33 billion (2024)

More public sector data for Macao SAR, China

• Intentional homicides (per 100,000 people) — 0.56 (2023)
• Net investment in nonfinancial assets (current LCU) — 18.9 billion (2024)
• Net investment in nonfinancial assets (% of GDP) — 4.75% (2024)
• Net lending (+) / net borrowing (-) (current LCU) — 27.87 billion (2024)
• Net lending (+) / net borrowing (-) (% of GDP) — 7.01% (2024)
• Grants and other revenue (current LCU) — 16.91 billion (2024)
• Grants and other revenue (% of revenue) — 13.38% (2024)
• Social contributions (% of revenue) — 0.38% (2024)
• Revenue, excluding grants (current LCU)

Reading data like this

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Questions people ask

What is Macao SAR, China's social contributions (current LCU)?

479.01 million in 2024, according to the World Bank (World Development Indicators).

How has it changed since 1996?

It is up 1,013% from 43.02 million in 1996 (8.99% a year on average, compounded). The highest value was 479.6 million in 2020 and the lowest 41.17 million in 1997.

How does Macao SAR, China rank?

67th highest of 68 economies with data for 2024.

Is the latest change in social contributions (current LCU) unusual for Macao SAR, China?

In 2024, Macao SAR, China's social contributions (current LCU) rose 0.7% on 2023 (from 475.52 million to 479.01 million). Across the 27 yearly changes before that (1997 to 2023), the average change was +12.4% and a typical year strayed about 29.8% from that (the standard deviation). This year's change was 0.4 standard deviations below that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.

Source

World Bank, World Development Indicators, indicator GC.REV.SOCL.CN, licensed CC BY 4.0. Original source: Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF) Figures are fetched from the World Bank API and refreshed monthly; see the series on data.worldbank.org. The full definition and method are in the World Bank's metadata glossary. Comparisons use the same World Bank release.

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