Economy in Macau

Edit This

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 two-thirds 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.

GDP: purchasing power parity—$9.1 billion (2004)

GDP—real growth rate: 28% (2004)

GDP—per capita: purchasing power parity—$19400(2004)

GDP—composition by sector:

agriculture: NA%

industry: NA%

services: NA%

Inflation rate—consumer price index: 1% (2004)

Labor force:

total: 271 228 (1995)

by occupation: industry 28% restaurants and hotels 28% other services 44%

Unemployment rate: 4.8% (2005)

Budget:

revenues: $1.3 billion

expenditures: $1.07 billion including capital expenditures of $NA (1995 est.)

Industries: clothing textiles toys electronics footwear tourism

Industrial production growth rate: NA%

Electricity—capacity: 260 000 kW (1995)

Electricity—production: 1.3 billion kWh (1995)

Electricity—consumption per capita: 3 250 kWh (1996 est.)

Agriculture—products: rice vegetables

Exports:

total value: $1.99 billion (f.o.b. 1996 est.)

commodities: textiles clothing toys electronics cement

partners: US 42% EU 31.7% Hong Kong 10% China 9.8% (1996)

Imports:

total value: $1.99 billion (c.i.f. 1996 est.)

commodities: raw materials foodstuffs capital goods fuels lubricants

partners: Hong Kong 28.9% China 21.8% EU 14.7% Japan 10.5% (1996)

Debt—external: $0 (1996)

Economic aid:

recipient: ODA $NA

Currency: 1 pataca (P) = 100 avos

Exchange rates: patacas (P) per US$1—7.99 (1997) 7.962 (1996) 8.034 (1993-95) 7.973 (1992); note—linked to the Hong Kong dollar at the rate of 1.03 patacas per Hong Kong dollar

Fiscal year: calendar year

Nearby Economy Guides

Where World66 helps you find the best deals on Macau Hotels

Destinations in Macau