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.

GDP purchasing power parity - $7.8 billion (1997 est.)

GDP - real growth rate -0.3% (1997 est.)

GDP - per capita purchasing power parity - $15,600 (1997 est.)

GDP - composition by sector
agriculture: NA%
industry: NA%
services: NA%

Inflation rate - consumer price index 3.9% (1997 est.)

Labor force
total: 271,228 (1995)
by occupation: industry 28%, restaurants and hotels 28%, other services 44%

Unemployment rate 3.6% (1995)

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 - capacity 260,000 kW (1995)

Electricity - production 1.3 billion kWh (1995)

Electricity - consumption per capita 3,250 kWh (1996 est.)

Agriculture - products rice, vegetables

Exports
total value: $1.99 billion (f.o.b., 1996 est.)
commodities: textiles, clothing, toys, electronics, cement
partners: US 42%, EU 31.7%, Hong Kong 10%, China 9.8% (1996)

Imports
total value: $1.99 billion (c.i.f., 1996 est.)
commodities: raw materials, foodstuffs, capital goods, fuels, lubricants
partners: Hong Kong 28.9%, China 21.8%, EU 14.7%, Japan 10.5% (1996)

Debt - external $0 (1996)

Economic aid
recipient: ODA, $NA

Currency 1 pataca (P) = 100 avos

Exchange rates patacas (P) per US$1 - 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

NOTE: The information regarding Macau on this page is re-published from the 1998 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Macau Economy 1998 information contained here. All suggestions for corrections of any errors about Macau Economy 1998 should be addressed to the CIA.