Monetary and financial statistics – March 2023
According to statistics released today by the Monetary Authority of Macao, broad money supply rebounded in March. Meanwhile, both resident deposits and loans increased from a month earlier.
Money supply
Currency in circulation dropped 1.2% whereas demand deposits rose 4.6%. M1 thus increased 2.9% from one month earlier. Meanwhile, quasi-monetary liabilities grew 1.3%. The sum of these two items, i.e. M2, rebounded 1.5% to MOP726.8 billion. On an annual basis, M1 kept virtually stable while M2 rose 5.9%. The shares of pataca (MOP), Hong Kong dollar (HKD), renminbi (RMB) and United States dollar (USD) in M2 were 34.9%, 44.9%, 8.0% and 10.0% respectively.
Deposits
Resident deposits increased 1.6% from the preceding month to MOP706.0 billion while non-resident deposits rose 3.4% to MOP299.2 billion. On the other hand, public sector deposits with the banking sector decreased 0.8% to MOP228.1 billion. As a result, total deposits in the banking sector grew 1.6% from a month earlier to MOP1,233.3 billion. The shares of MOP, HKD, RMB and USD in total deposits were 20.4%, 45.5%, 8.8% and 23.0% respectively.
Loans
Domestic loans to the private sector increased by 0.6% from a month ago to MOP569.8 billion. Analysed by economic sector, “manufacturing industries” and “construction and public works” grew at respective rates of 4.0% and 3.1% compared with a quarter ago, whereas “restaurants, hotels and similar” and “wholesale and retail trade” fell 3.8% and 1.8% respectively. On the other hand, external loans dropped 4.4% to MOP676.4 billion. As a result, total loans to the private sector decreased by 2.2% from a month earlier to MOP1,246.1 billion. The shares of MOP, HKD, RMB and USD in total loans were 17.9%, 42.0%, 16.2% and 21.7% respectively.
Operating ratios
At end-March, the loan-to-deposit ratio for the resident sector decreased from 61.2% at end-February to 61.0%. Meanwhile, the ratio for both the resident and non-resident sectors decreased from 104.9% to 101.0%. The one-month and three-month current assets to liabilities ratios stood at 61.0% and 60.2% respectively. Concurrently, the non-performing loan ratio increased from 1.6% at end-February to 1.7%.