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Macau (Chinese territory under Portuguese administration) 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 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. Macau is scheduled to revert to Chinese administration on 20 December 1999.

    GDP: purchasing power parity—$6.9 billion (1998 est.)

    GDP—real growth rate: -0.1% (1998 est.)

    GDP—per capita: purchasing power parity—$16,000 (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): 3.5% (1997)

    Labor force: 277,676 (1997)

    Labor force—by occupation: industry 28%, restaurants and hotels 28%, other services 44%

    Unemployment rate: 3.8% (1998 est.)

    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—production: 1.125 billion kWh (1996)

    Electricity—production by source:
    fossil fuel: 100%
    hydro: 0%
    nuclear: 0%
    other: 0% (1996)

    Electricity—consumption: 1.522 billion kWh (1996)

    Electricity—exports: 3 million kWh (1996)

    Electricity—imports: 400 million kWh (1996)

    Agriculture—products: rice, vegetables

    Exports: $2.14 billion (f.o.b., 1997)

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

    Exports—partners: US 45%, EU 24%, Hong Kong 8%, China 6% (1997)

    Imports: $2.075 billion (c.i.f., 1997)

    Imports—commodities: raw materials, foodstuffs, capital goods, fuels, lubricants

    Imports—partners: China 29%, Hong Kong 25%, EU 12.4%, Japan 9% (1997)

    Debt—external: $0 (1996)

    Economic aid—recipient: $NA

    Currency: 1 pataca (P) = 100 avos

    Exchange rates: patacas (P) per US$1—7.74 (1998), 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

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Revised 1-Mar-99
Copyright © 1999 Photius Coutsoukis (all rights reserved)