
Macau Economy
Macau Economy: A summary of information about Macau Economy, from government research data as well as independent research and other sources.
Macau: Economy
Economy - overview
The economy is based largely on tourism (including gambling) and textile and fireworks manufacturing. Efforts to diversify have spawned other small industries - toys, artificial flowers, and electronics. The tourist sector has accounted for roughly 25% of GDP, and the clothing industry has provided about three-fourths of export earnings; the gambling industry probably represents over 40% of GDP. Macau depends on China for most of its food, fresh water, and energy imports. Japan and Hong Kong are the main suppliers of raw materials and capital goods. Output dropped 4% in 1998 and the economy remained weak in 1999. Macau reverted to Chinese administration on 20 December 1999. Gang violence, a dark spot in the economy, probably will be reduced in 2000 to the advantage of the tourism sector.
GDP
purchasing power parity - $7.65 billion (1998 est.)
GDP - real growth rate
-4% (1998 est.)
GDP - per capita
purchasing power parity - $17,500 (1998 est.)
GDP - composition by sector
agriculture: 1% industry: 40% services: 59% (1997)
Population below poverty line
NA%
Household income or consumption by percentage share
lowest 10%: NA% highest 10%: NA%
Inflation rate (consumer prices)
-3% (1999 est.)
Labor force
281,117 (1998)
Labor force - by occupation
industry 31%, restaurants and hotels 28%, other services 41%
Unemployment rate
6.9% (1999)
Budget
revenues: $1.34 billion expenditures: $1.34 billion, including capital expenditures of $260 million (1998 est.)
Industries
clothing, textiles, toys, electronics, footwear, tourism, gambling
Industrial production growth rate
NA%
Electricity - production
1.34 billion kWh (1998)
Electricity - production by source
fossil fuel: 100% hydro: 0% nuclear: 0% other: 0% (1998)
Electricity - consumption
1.42 billion kWh (1998)
Electricity - exports
1 million kWh (1998)
Electricity - imports
175 million kWh (1998)
Agriculture - products
rice, vegetables
Exports
$1.7 billion (f.o.b., 1999)
Exports - commodities
textiles, clothing, toys, electronics, cement, footwear, machinery
Exports - partners
US 48%, EU 31%, Hong Kong 8%, China 7% (1998)
Imports
$1.5 billion (c.i.f., 1999)
Imports - commodities
raw materials, foodstuffs, capital goods, fuels, consumer goods
Imports - partners
China 33%, Hong Kong 24%, EU 11%, Taiwan 10%, Japan 8% (1998)
Debt - external
$1.7 billion (1997)
Economic aid - recipient
$NA
Currency
1 pataca (P) = 100 avos
Exchange rates
patacas (P) per US$1 - 8.01 (January 2000), 7.99 (1999), 7.98 (1998), 7.99 (1997), 7.962 (1996), 8.034 (1993-95); note - linked to the Hong Kong dollar at the rate of 1.03 patacas per Hong Kong dollar
Fiscal year
calendar year