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Macau Economy 2017
https://theodora.com/wfbcurrent/macau/macau_economy.html
SOURCE: 2017 CIA WORLD FACTBOOK AND OTHER SOURCES











Macau Economy 2017
SOURCE: 2017 CIA WORLD FACTBOOK AND OTHER SOURCES


Page last updated on January 12, 2017

Economy - overview:
Since opening up its locally-controlled casino industry to foreign competition in 2001, Macau has attracted tens of billions of dollars in foreign investment, transforming the territory 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. In 2015, Macau's gaming-related taxes accounted for more than 76% of total government revenue.Macau's economy slowed dramatically in 2009 as a result of the global economic slowdown, but strong growth resumed in 2010-13, largely on the back of tourism from mainland China and the gaming sectors. In 2015, this city of 646,800 hosted nearly 30.7 million visitors. Almost 67% came from mainland China. Macau's traditional manufacturing industry has slowed greatly since the termination of the Multi-Fiber Agreement in 2005. Services export — primarily gaming — increasingly has driven Macau’s economic performance. Mainland China’s ongoing anti-corruption campaign has brought Macau’s gambling boom to a halt, with spending in casinos contracting 34.3% in 2015. As a result, Macau's inflation-adjusted GDP contracted 20.3% from 2014, down from double-digit expansion rates in 2010-13. Non-inflation adjusted exports of goods and services dropped 1.8% from 2014, reflecting the slowdown in gaming exports.Macau continues to face the challenges of managing its growing casino industry, risks from money-laundering activities, and the need to diversify 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):
$63.22 billion (2016 est.) $66.38 billion (2015 est.) $83.33 billion (2014 est.)
note: data are in 2016 dollars
country comparison to the world: 105
[see also: GDP country ranks ]

GDP (official exchange rate):
$44.07 billion (2015 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
-4.7% (2016 est.) -20.3% (2015 est.) -0.9% (2014 est.)
country comparison to the world: 217
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$96,100 (2016 est.) $102,600 (2015 est.) $131,000 (2014 est.)
country comparison to the world: 3
[see also: GDP - per capita country ranks ]

GDP - composition, by end use:
household consumption: 28.7%
[see also: GDP - composition, by end use - household consumption country ranks ]
government consumption: 11%
[see also: GDP - composition, by end use - government consumption country ranks ]
investment in fixed capital: 21%
[see also: GDP - composition, by end use - investment in fixed capital country ranks ]
investment in inventories: -0.1%
[see also: GDP - composition, by end use - investment in inventories country ranks ]
exports of goods and services: 73.7%
[see also: GDP - composition, by end use - exports of goods and services country ranks ]
imports of goods and services: -34.3% (2016 est.)
[see also: GDP - composition, by end use - imports of goods and services country ranks ]

GDP - composition, by sector of origin:
agriculture: 0%
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
industry: 11.2%
[see also: GDP - composition, by sector of origin - industry country ranks ]
services: 88.8% (2016 est.)
[see also: GDP - composition, by sector of origin - services 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:
3% (2016 est.)
country comparison to the world: 81
[see also: Industrial production growth rate country ranks ]

Labor force:
400,000 (2016 est.)
country comparison to the world: 160
[see also: Labor force country ranks ]

Labor force - by occupation:
manufacturing: 2.5%
construction: 9.8%
transport and communications: 4.4%
wholesale and retail trade: 12.4%
restaurants and hotels: 15%
gambling: 25.9%
public sector: 7.1%
financial services: 2.6%
other services: 20.3% (2013)

Unemployment rate:
1.9% (2016 est.) 1.8% (2015 est.)
country comparison to the world: 11
[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 ]

Distribution of family income - Gini index:
35 (2013) 38 (2008)
country comparison to the world: 94
[see also: Distribution of family income - Gini index country ranks ]

Budget:
revenues: $12.12 billion
[see also: Budget revenues country ranks ]
expenditures: $7.004 billion (2016 est.)
[see also: Budget expenditures country ranks ]

Taxes and other revenues:
27.5% of GDP (2016 est.)
country comparison to the world: 94
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
11.6% of GDP (2016 est.)
country comparison to the world: 4
[see also: Budget surplus (+) or deficit (-) country ranks ]

Fiscal year:
calendar year

Inflation rate (consumer prices):
3.3% (2016 est.) 4.6% (2015 est.)
country comparison to the world: 143
[see also: Inflation rate (consumer prices) country ranks ]

Commercial bank prime lending rate:
5.4% (31 December 2016 est.) 5.25% (31 December 2015 est.)
country comparison to the world: 136
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$6.96 billion (31 December 2016 est.) $7.623 billion (31 December 2015 est.)
country comparison to the world: 89
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$64.67 billion (31 December 2014 est.) $55.29 billion (31 December 2013 est.)
country comparison to the world: 63
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$18.08 billion (31 December 2016 est.) $10.09 billion (31 December 2015 est.)
country comparison to the world: 90
[see also: Stock of domestic credit country ranks ]

Market value of publicly traded shares:
$85.5 billion (2 March 2012 est.) $46.1 billion (31 February 2011 est.) $2.3 billion (31 December 2008 est.)
country comparison to the world: 44
[see also: Market value of publicly traded shares country ranks ]

Current account balance:
$12.51 billion (2016 est.) $12.92 billion (2015 est.)
country comparison to the world: 19
[see also: Current account balance country ranks ]

Exports:
$1.137 billion (2013 est.) $1.903 billion (2014 est.)
note: includes reexports
country comparison to the world: 153
[see also: Exports country ranks ]

Exports - commodities:
clothing, textiles, footwear, toys, electronics, machinery and parts

Exports - partners:
Hong Kong 63.4%, China 18.2% (2015)

Imports:
$14.2 billion (2014 est.) $10.13 billion (2013 est.)
country comparison to the world: 85
[see also: Imports country ranks ]

Imports - commodities:
raw materials and semi-manufactured goods, consumer goods (foodstuffs, beverages, tobacco, garments and footwear, motor vehicles), capital goods, mineral fuels and oils

Imports - partners:
China 33.8%, Hong Kong 8.8%, Japan 8.5%, Switzerland 8%, France 6.9%, Italy 6.7%, US 6.7% (2015)

Reserves of foreign exchange and gold:
$18.89 billion (31 December 2015 est.) $16.44 billion (31 December 2014 est.)
note: the Fiscal Reserves Act that came into force on 1 January 2012 requires the fiscal reserves to be separated from the foreign exchange reserves and to be managed separately; the transfer of assets took place in February 2012
country comparison to the world: 60
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$0 (31 December 2013) $0 (31 December 2012)
country comparison to the world: 205
[see also: Debt - external country ranks ]

Stock of direct foreign investment - at home:
$18.91 billion (31 December 2011 est.) $14.91 billion (31 December 2011 est.)
country comparison to the world: 79
[see also: Stock of direct foreign investment - at home country ranks ]

Stock of direct foreign investment - abroad:
$1.166 billion (2012 est.) $667.8 million (2011 est.)
country comparison to the world: 83
[see also: Stock of direct foreign investment - abroad country ranks ]

Exchange rates:
patacas (MOP) per US dollar - 8.01 (2016 est.) 7.985 (2015 est.) 7.985 (2014 est.) 7.9871 (2013 est.) 7.99 (2012 est.)


NOTE: The information regarding Macau on this page is re-published from the 2017 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Macau Economy 2017 information contained here. All suggestions for corrections of any errors about Macau Economy 2017 should be addressed to the CIA.




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