Macau Economy 2001

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. More than 8 million tourists visited Macau in 2000. 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 5% in 1998 and 3% in 1999, with a small 2% gain in 2000. Macau reverted to Chinese administration on 20 December 1999. Gang violence, a dark spot in the economy, probably will be reduced in 2000-01 to the advantage of the tourism sector.

GDP: purchasing power parity - $7.82 billion (2000 est.)

GDP - real growth rate: 2% (2000 est.)

GDP - per capita: purchasing power parity - $17,500 (2000 est.)

GDP - composition by sector:
agriculture: 1%
industry: 25%
services: 74% (2000 est.)

Population below poverty line: NA%

Household income or consumption by percentage share:
lowest 10%: NA%
highest 10%: NA%

Inflation rate (consumer prices): -1.8% (2000 est.)

Labor force: 283,450 (1999)

Labor force - by occupation: restaurants and hotels 26%, manufacturing 22%, other services 52% (2000 est.)

Unemployment rate: 6.6% (2000)

Budget:
revenues: $1.26 billion
expenditures: $1.22 billion, including capital expenditures of $175 million (1999 est.)

Industries: clothing, textiles, toys, electronics, footwear, tourism, gambling

Industrial production growth rate: NA%

Electricity - production: 1.355 billion kWh (1999)

Electricity - production by source:
fossil fuel: 100%
hydro: 0%
nuclear: 0%
other: 0% (1999)

Electricity - consumption: 1.422 billion kWh (1999)

Electricity - exports: 3 million kWh (1999)

Electricity - imports: 165 million kWh (1999)

Agriculture - products: rice, vegetables

Exports: $2.6 billion (f.o.b., 2000 est.)

Exports - commodities: textiles, clothing, toys, electronics, cement, footwear, machinery

Exports - partners: US 47%, EU 30%, China 9.2%, Hong Kong 6.7% (1999)

Imports: $2.4 billion (c.i.f., 2000 est.)

Imports - commodities: raw materials, foodstuffs, capital goods, fuels, consumer goods

Imports - partners: China 36%, Hong Kong 18%, EU 13%, Taiwan 10%, Japan 7% (1999)

Debt - external: $1.7 billion (1997)

Economic aid - recipient: $NA

Currency: pataca (MOP)

Currency code: MOP

Exchange rates: patacas per US dollar - 8.033 (January 2001), 8.025 (2000), 7.990 (1999), 7.978 (1998), 7.974 (1997), 7.966 (1996); note - linked to the Hong Kong dollar at the rate of 1.03 patacas per Hong Kong dollar

Fiscal year: calendar year

NOTE: The information regarding Macau on this page is re-published from the 2001 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Macau Economy 2001 information contained here. All suggestions for corrections of any errors about Macau Economy 2001 should be addressed to the CIA.