AsianInfo.org supports I.C.E.Y. - H.O.P.E. (non-profit org)
(International Cooperation of Environmental Youth - Helping Our Polluted Earth) Any advertisement you view helps save the environment!  Thanks!

 

Countries / Regions


 

Viewer's Corner

 
Publish your story on AsianInfo.org - Personal experiences, opinions, articles, or any information related to Asia.  More Info...

 

Asianinfo Photo Gallery
Photos of Asia now available for purchase 

FREE Photos available!

IMG_0122 copy.JPG (69431 bytes)
Korea

Thailand

Indonesia


Malaysia

Hong Kong


Singapore

Japan

Shanghai


USA


Israel

 
 

Macau Main Page

 

Macau's Economy

Economy - overview:
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 strong tourism and gaming sectors. 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 center. 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. This city of nearly 570,000 hosted more than 21 million visitors in 2009. Almost 51% came from mainland China. Macau's traditional manufacturing industry has virtually disappeared since the termination of the Multi-Fiber Agreement in 2005. In 2009, total exports were less than US$1 billion, while gaming receipts were almost US$15 billion. By October 2010, gross gaming revenue had already reached US$19 billion for the year. The Macau government plans to tighten control over the opening of new casinos and strengthen supervision of local casino operations in 2011 and has introduced measures to diversify the economy. The Closer Economic Partnership Agreement (CEPA) between Macau and mainland China that came into effect on 1 January 2004 offers Macau-made products tariff-free access to the mainland; nevertheless, China remains Macau's third largest goods export market, behind Hong Kong and the United States. 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.)
country comparison to the world: 129
$18.14 billion (2008 est.)
$14.4 billion (2006)
note: data are in 2010 US dollars
GDP (official exchange rate):
$22.1 billion (2009 est.)
GDP - real growth rate:
1% (2009 est.)
country comparison to the world: 180
12.9% (2008)
26% (2007)
GDP - per capita (PPP):
$33,000 (2009)
country comparison to the world: 41
$31,800 (2008)
$28,400 (2006)
GDP - composition by sector:
agriculture: 0.1%
industry: 2.8%
services: 97.1% (2009 est.)
Labor force:
322,000 (2009 est.)
country comparison to the world: 163
Labor force - by occupation:
manufacturing: 4.9%
construction: 9.3%
transport and communications: 5.2%
wholesale and retail trade: 12.6%
restaurants and hotels: 13.6%
gambling: 14.2%
public sector: 6.6%
financial services: 2.1%
other services and agriculture: 31.5% (2009 est.)
Unemployment rate:
3.6% (2009)
country comparison to the world: 30
3% (2008)
Population below poverty line:
NA%
Household income or consumption by percentage share:
lowest 10%: NA%
highest 10%: NA%
Budget:
revenues: $7.2 billion
expenditures: $3.6 billion (2009)
Inflation rate (consumer prices):
1.2% (December 2009)
country comparison to the world: 26
8.6% (2008)
Commercial bank prime lending rate:
5.25% (31 December 2009 est.)
country comparison to the world: 146
5.43% (31 December 2008 est.)
Stock of narrow money:
$3.831 billion (31 December 2009)
$3.099 billion (31 December 2008)
Stock of broad money:
$26.56 billion (31 December 2009 est.)
$23.78 billion (31 December 2008)
Stock of domestic credit:
$1.717 billion (31 December 2008 est.)
country comparison to the world: 131
$847 million (31 December 2007 est.)
Market value of publicly traded shares:
$2.3 billion (31 December 2008 est.)
$NA (31 December 2007)
$413.1 million (2004 est.)
Agriculture - products:
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
Industries:
tourism, gambling, clothing, textiles, electronics, footwear, toys
Industrial production growth rate:
NA%
Electricity - production:
1.424 billion kWh (2009 est.)
country comparison to the world: 141
Electricity - consumption:
3.474 billion kWh (2009 est.)
country comparison to the world: 119
Electricity - exports:
0 kWh (2009 est.)
Electricity - imports:
2.215 billion kWh (2009 est.)
Oil - production:
0 bbl/day (2009 est.)
country comparison to the world: 169
Oil - consumption:
16,000 bbl/day (2009 est.)
country comparison to the world: 137
Oil - exports:
0 bbl/day (2009 est.)
country comparison to the world: 185
Oil - imports:
9,294 bbl/day (2009 est.)
country comparison to the world: 141
Oil - proved reserves:
0 bbl (1 January 2010 est.)
country comparison to the world: 144
Natural gas - production:
0 cu m (2009 est.)
country comparison to the world: 162
Natural gas - consumption:
91.3 million cu m (2009)
country comparison to the world: 103
Natural gas - exports:
0 cu m (2009 est.)
country comparison to the world: 159
Natural gas - imports:
97.8 million cu m (2009 est.)
country comparison to the world: 66
Natural gas - proved reserves:
300,000 cu m (1 January 2008 est.)
country comparison to the world: 103
Current account balance:
$NA
Exports:
$950 million (2009 est.)
country comparison to the world: 154
$2 billion (2008); note - includes reexports
Exports - commodities:
clothing, textiles, footwear, toys, electronics, machinery and parts
Exports - partners:
Hong Kong 38.7%, US 17.9%, China 14.4%, Germany 4% (2009)
Imports:
$4.5 billion (2009 est.)
country comparison to the world: 124
$5.4 billion (2008 est.)
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 10.8%, Japan 8.1%, France 8%, US 6.2% (2009)
Reserves of foreign exchange and gold:
$NA
Debt - external:
$0 (2009)
country comparison to the world: 199
Stock of direct foreign investment - at home:
$13.6 billion (2008 est.)
country comparison to the world: 77
$11.1 billion (#REF! est.)
Stock of direct foreign investment - abroad:
$980 million (2009 est.)
country comparison to the world: 74
$1 billion (2008 est.)
Exchange rates:
patacas (MOP) per US dollar - 7.985 (2009), 7.983 (2008), 8.011 (2007), 8.0015 (2006)

 


AsianInfo.org supports I.C.E.Y. - H.O.P.E. (non-profit org)
(International Cooperation of Environmental Youth - Helping Our Polluted Earth) Any advertisement you view helps save the environment!  Thanks!

 

 
 
 
Cheap Airline Tickets

Discount Hotels

Rental Car Deals

 


 

 
 
 
 
 
 

Disclaimer:  AsianInfo.org does not guarantee the complete accuracy of the information provided on this site or links.  Do your own research and get a professional's opinion before adhering to advice or information contained herein.  Use of the information contained herein provided by AsianInfo.org and any mistakes contained within are at the individual risk of the user. 

(We do not provide links to, or knowingly promote, any violent or pornographic sites.)


Suggestions  |  Organization Info  |  Become a Sponsor Privacy Statement

 Copyright 2010 AsianInfo.org - All Rights Reserved.- Copyright Policy