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Macau Economy 2011
https://theodora.com/wfb2011/macau/macau_economy.html
SOURCE: 2011 CIA WORLD FACTBOOK AND OTHER SOURCES


















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Page last updated on January 11, 2011

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
[see also: GDP (purchasing power parity) country ranks ]

GDP (official exchange rate):
$22.1 billion (2009 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
1% (2009 est.)
country comparison to the world: 180

12.9% (2008)
26% (2007)
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$33,000 (2009)
country comparison to the world: 41

$31,800 (2008)
$28,400 (2006)
[see also: GDP - per capita country ranks ]

GDP - composition by sector:
agriculture: 0.1%
[see also: GDP - composition by sector - agriculture country ranks ]
industry: 2.8%
[see also: GDP - composition by sector - industry country ranks ]
services: 97.1% (2009 est.)
[see also: GDP - composition by sector - services country ranks ]

Labor force:
322,000 (2009 est.)
country comparison to the world: 163
[see also: Labor force country ranks ]

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)
[see also: Unemployment rate country ranks ]

Population below poverty line:
NA%
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
lowest 10%: NA%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: NA%
[see also: Household income or consumption by percentage share - highest 10% country ranks ]

Budget:
revenues: $7.2 billion
[see also: Budget - revenues country ranks ]
expenditures: $3.6 billion (2009)
[see also: Budget - expenditures country ranks ]

Inflation rate (consumer prices):
1.2% (December 2009)
country comparison to the world: 26

8.6% (2008)
[see also: Inflation rate (consumer prices) country ranks ]

Commercial bank prime lending rate:
5.25% (31 December 2009 est.)
country comparison to the world: 146

5.43% (31 December 2008 est.)
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$3.831 billion (31 December 2009)

$3.099 billion (31 December 2008)
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$26.56 billion (31 December 2009 est.)

$23.78 billion (31 December 2008)
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$1.717 billion (31 December 2008 est.)
country comparison to the world: 131

$847 million (31 December 2007 est.)
[see also: Stock of domestic credit country ranks ]

Market value of publicly traded shares:
$2.3 billion (31 December 2008 est.)

$NA (31 December 2007)
$413.1 million (2004 est.)
[see also: Market value of publicly traded shares country ranks ]

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%
[see also: Industrial production growth rate country ranks ]

Electricity - production:
1.424 billion kWh (2009 est.)
country comparison to the world: 141
[see also: Electricity - production country ranks ]

Electricity - consumption:
3.474 billion kWh (2009 est.)
country comparison to the world: 119
[see also: Electricity - consumption country ranks ]

Electricity - exports:
0 kWh (2009 est.)
[see also: Electricity - exports country ranks ]

Electricity - imports:
2.215 billion kWh (2009 est.)
[see also: Electricity - imports country ranks ]

Oil - production:
0 bbl/day (2009 est.)
country comparison to the world: 169
[see also: Oil - production country ranks ]

Oil - consumption:
16,000 bbl/day (2009 est.)
country comparison to the world: 137
[see also: Oil - consumption country ranks ]

Oil - exports:
0 bbl/day (2009 est.)
country comparison to the world: 185
[see also: Oil - exports country ranks ]

Oil - imports:
9,294 bbl/day (2009 est.)
country comparison to the world: 141
[see also: Oil - imports country ranks ]

Oil - proved reserves:
0 bbl (1 January 2010 est.)
country comparison to the world: 144
[see also: Oil - proved reserves country ranks ]

Natural gas - production:
0 cu m (2009 est.)
country comparison to the world: 162
[see also: Natural gas - production country ranks ]

Natural gas - consumption:
91.3 million cu m (2009)
country comparison to the world: 103
[see also: Natural gas - consumption country ranks ]

Natural gas - exports:
0 cu m (2009 est.)
country comparison to the world: 159
[see also: Natural gas - exports country ranks ]

Natural gas - imports:
97.8 million cu m (2009 est.)
country comparison to the world: 66
[see also: Natural gas - imports country ranks ]

Natural gas - proved reserves:
300,000 cu m (1 January 2008 est.)
country comparison to the world: 103
[see also: Natural gas - proved reserves country ranks ]

Current account balance:
$NA
[see also: Current account balance country ranks ]

Exports:
$950 million (2009 est.)
country comparison to the world: 154

$2 billion (2008); note - includes reexports
[see also: Exports country ranks ]

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.)
[see also: Imports country ranks ]

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
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$0 (2009)
country comparison to the world: 199
[see also: Debt - external country ranks ]

Stock of direct foreign investment - at home:
$13.6 billion (2008 est.)
country comparison to the world: 77

$11.1 billion (#REF! est.)
[see also: Stock of direct foreign investment - at home country ranks ]

Stock of direct foreign investment - abroad:
$980 million (2009 est.)
country comparison to the world: 74

$1 billion (2008 est.)
[see also: Stock of direct foreign investment - abroad country ranks ]

Exchange rates:
patacas (MOP) per US dollar - 7.985 (2009), 7.983 (2008), 8.011 (2007), 8.0015 (2006)


NOTE: The information regarding Macau on this page is re-published from the 2011 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Macau Economy 2011 information contained here. All suggestions for corrections of any errors about Macau Economy 2011 should be addressed to the CIA.



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