| Economy | Macau |
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Economy - overview:
|
After opening up its locally-controlled casino industry to foreign competition in 2001, the territory attracted tens of billions of dollars in foreign investment, transforming Macau into one of the world's largest gaming centers. Macau's gaming and tourism businesses were fueled by China's decision to relax travel restrictions on Chinese citizens wishing to visit Macau. By 2006, Macau's gaming revenue surpassed that of the Las Vegas strip, and gaming-related taxes accounted for more than 70% of total government revenue. In 2008, Macau introduced measures to cool the rapidly developing sector. Macau's economy slowed dramatically in 2009 as a result of the global economic slowdown, but strong growth resumed in 2010, largely on the back of tourism from mainland China and the gaming sectors. This city of nearly 552,300 hosted nearly 25 million visitors in 2010. Almost 53% came from mainland China. Macau's traditional manufacturing industry slowed greatly since the termination of the Multi-Fiber Agreement in 2005. The Closer Economic Partnership Agreement (CEPA) between Macau and mainland China that came into effect in January 2004 offers Macau-made products tariff-free access to the mainland; nevertheless, China is Macau's second largest goods export market, behind Hong Kong, and followed by the United States. However, exports in 2010 were less than US$900 million, while gaming receipts were almost US$24 billion, a 58% increase over 2009. Macau continues to face the challenges of managing its growing casino industry, money laundering, and the need to diversifying the economy away from heavy dependence on gaming revenues. Macau's currency, the pataca, is closely tied to the Hong Kong dollar, which is also freely accepted in the territory. |
GDP (purchasing power parity):
|
$18.47 billion (2009 est.)
$18.14 billion (2008 est.)
$14.4 billion (2006)
note: data are in 2011 US dollars |
GDP - per capita (PPP):
|
$33,000 (2009)
$31,800 (2008)
$28,400 (2006) |
GDP (official exchange rate):
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$22.1 billion (2009 est.) |
GDP - real growth rate:
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1% (2009 est.)
12.9% (2008)
26% (2007) |
GDP - composition by sector:
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agriculture: 0.1%
industry: 2.8%
services: 97.1% (2009 est.) |
Investment (gross fixed):
|
10.6% of GDP (2011 est.) |
Population below poverty line:
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NA% |
Household income or consumption by percentage share:
|
lowest 10%: NA%
highest 10%: NA% |
Distribution of family income - Gini index:
|
void |
Inflation rate (consumer prices):
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3.9% (2011 est.)
2.8% (2010 est.) |
Central bank discount rate:
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void |
Commercial bank prime lending rate:
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5.3% (31 December 2011 est.)
5.3% (31 December 2010 est.) |
Stock of money:
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$4.55 billion (31 December 2009)
$3.09 billion (31 December 2008) |
Stock of money - per capita:
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7,941 USD per capita |
Stock of quasi money:
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$22.68 billion (31 December 2009 est.)
$22.15 billion (31 December 2008) |
Stock of quasi money - per capita:
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39,581 USD per capita |
Stock of domestic credit:
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$1.372 billion (31 December 2010 est.)
$701.1 million (31 December 2009 est.) |
Stock of domestic credit - per capita:
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2,395 USD per capita |
Stock of narrow money:
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$2.901 billion (31 December 2011 est.)
$2.495 billion (31 December 2010 est.) |
Stock of broad money:
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$28.2 billion (31 December 2011 est.)
$30.33 billion (31 December 2010 est.) |
Labor force:
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330,900 (2010 est.) |
Labor force participation rate:
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57.75 % of population |
Labor force - by occupation:
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manufacturing: 4.3%
construction: 8.7%
transport and communications: 5.5%
wholesale and retail trade: 13.3%
restaurants and hotels: 12.7%
gambling: 13.3%
public sector: 6.7%
financial services: 2.4%
other services and agriculture: 33.2% (2010) |
Unemployment rate:
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2.9% (2010)
3.6% (2009) |
Unemployment, youth ages 15-24:
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total: 7.5%
male: 9.8%
female: 5.4% (2009) |
Budget:
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revenues: $10.98 billion
expenditures: $4.288 billion (2011 est.) |
Budget revenues per capita:
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19,163 USD per capita |
Taxes and other revenues:
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49.7% of GDP (2011 est.) |
Budget surplus (+) or deficit (-):
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30.3% of GDP (2011 est.) |
Public debt:
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void |
Industries:
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tourism, gambling, clothing, textiles, electronics, footwear, toys |
Industrial production growth rate:
|
-23.7% |
Electricity - production:
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1.1 billion kWh (2010 est.) |
Electricity - production per capita:
|
1,920 kWh per capita |
Electricity - consumption:
|
3.66 billion kWh (2010 est.) |
Electricity - consumption - per capita:
|
6,388 kWh per capita |
Electricity - exports:
|
0 kWh (2010 est.) |
Electricity - imports:
|
2.79 billion kWh (2010 est.) |
Oil - production:
|
0 bbl/day (2010 est.) |
Oil - production per capita:
|
void |
Oil - consumption:
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17,000 bbl/day (2010 est.) |
Oil - consumption - per capita:
|
10.83 bbl/year per capita |
Oil - exports:
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0 bbl/day (2010 est.) |
Oil - imports:
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15,400 bbl/day (2009 est.) |
Oil - proved reserves:
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0 bbl (1 January 2011 est.) |
Natural gas - production:
|
0 cu m (2010 est.) |
Natural gas - production per capita:
|
void |
Natural gas - consumption:
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154.7 million cu m (2010) |
Natural gas - consumption - per capita:
|
270 cu m per capita |
Natural gas - exports:
|
0 cu m (2010 est.) |
Natural gas - imports:
|
154.5 million cu m (2010 est.) |
Natural gas - proved reserves:
|
174,000 cu m (2010 est.) |
Agriculture - products:
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only 2% of land area is cultivated, mainly by vegetable growers; fishing, mostly for crustaceans, is important; some of the catch is exported to Hong Kong |
Current account balance:
|
$6.238 billion (2009 est.) |
Current account balance - per capita:
|
10,887 USD per capita |
Exports:
|
$870 million (2010 est.)
$973 million (2009 est.)
note: includes reexports |
Exports per capita:
|
1,519 USD per capita |
Exports - commodities:
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clothing, textiles, footwear, toys, electronics, machinery and parts |
Exports - partners:
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Hong Kong 43.1%, China 15.8%, US 11.2%, Germany 4% (2010 est.) |
Imports:
|
$5.5 billion (2010 est.)
$4.5 billion (2009 est.) |
Imports per capita:
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9,599 USD per capita |
Imports - commodities:
|
raw materials and semi-manufactured goods, consumer goods (foodstuffs, beverages, tobacco), capital goods, mineral fuels and oils |
Imports - partners:
|
China 31.1%, Hong Kong 10.5%, France 9.2%, Japan 8.6%, US 5.9% (2010 est.) |
Reserves of foreign exchange and gold:
|
$23.73 billion (2010) (2010) |
Reserves of foreign exchange and gold - per capita:
|
41,414 USD per capita |
Debt - external:
|
$0 (2010) |
Debt - external - per capita:
|
void |
Stock of direct foreign investment - at home:
|
$12.1 billion (2008 est.)
$10.5 billion (#REF! est.) |
Stock of direct foreign investment - at home - per capita:
|
21,117 USD per capita |
Stock of direct foreign investment - abroad:
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$240 million (2009 est.)
$964 million (2008) |
Stock of direct foreign investment - abroad - per capita:
|
419 USD per capita |
Market value of publicly traded shares:
|
$46.1 billion (31 February 2011 est.)
$2.3 billion (31 December 2008)
$413.1 million (2004 est.) |
Market value of publicly traded shares - per capita:
|
80,454 USD per capita |
Currency (code):
|
pataca (MOP) |
Exchange rates:
|
patacas (MOP) per US dollar -
8 (2011 est.)
8 (2010 est.)
7.983 (2008)
8.011 (2007) |
Fiscal year:
|
calendar year |
|
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