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Macau (Chinese territory under Portuguese administration) Economy 1999
Economyoverview: The economy is based largely on tourism (including gambling) and textile and fireworks manufacturing. Efforts to diversify have spawned other small industriestoys, 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.) GDPreal growth rate: -0.1% (1998 est.) GDPper capita: purchasing power parity$16,000 (1998 est.)
GDPcomposition by sector:
Population below poverty line: NA%
Household income or consumption by percentage share:
Inflation rate (consumer prices): 3.5% (1997) Labor force: 277,676 (1997) Labor forceby occupation: industry 28%, restaurants and hotels 28%, other services 44% Unemployment rate: 3.8% (1998 est.)
Budget:
Industries: clothing, textiles, toys, electronics, footwear, tourism Industrial production growth rate: NA% Electricityproduction: 1.125 billion kWh (1996)
Electricityproduction by source:
Electricityconsumption: 1.522 billion kWh (1996) Electricityexports: 3 million kWh (1996) Electricityimports: 400 million kWh (1996) Agricultureproducts: rice, vegetables Exports: $2.14 billion (f.o.b., 1997) Exportscommodities: textiles, clothing, toys, electronics, cement, footwear, machinery Exportspartners: US 45%, EU 24%, Hong Kong 8%, China 6% (1997) Imports: $2.075 billion (c.i.f., 1997) Importscommodities: raw materials, foodstuffs, capital goods, fuels, lubricants Importspartners: China 29%, Hong Kong 25%, EU 12.4%, Japan 9% (1997) Debtexternal: $0 (1996) Economic aidrecipient: $NA Currency: 1 pataca (P) = 100 avos Exchange rates: patacas (P) per US$17.74 (1998), 7.99 (1997), 7.962 (1996), 8.034 (1993-95), 7.973 (1992); notelinked to the Hong Kong dollar at the rate of 1.03 patacas per Hong Kong dollar Fiscal year: calendar year
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