Macau Economy: from the All Country Info reference guide to country facts

Macau Economy

Macau Economy: A summary of information about Macau Economy, from government research data as well as independent research and other sources.

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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
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