unbekannter Gast

Macau: Economy#

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 Chinas decision to relax travel restrictions on Chinese citizens wishing to visit Macau. - In 2013, Macau's gaming-related taxes accounted for more than 85% of total government revenue. Macaus 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 2013, this city of 607,500 hosted nearly 29.3 million visitors. Almost 64% came from mainland China. Macaus traditional manufacturing industry has slowed greatly since the termination of the Multi-Fiber Agreement in 2005. China is Macaus second largest goods export market, behind Hong Kong, and followed by the United States. In 2013, exports were US$1.1 billion, while gaming receipts were US$45.2 billion, an 18.6% increase over 2012. Macaus economy expanded by 11.9% in 2013; although impressive, it was a slower growth rate than in previous years. Macau continues to face the challenges of managing its growing casino industry, money-laundering, and the need to diversify the economy away from heavy dependence on gaming revenues. Macaus currency, the pataca, is closely tied to the Hong Kong dollar, which is also freely accepted in the territory.

Economic Facts#

GDP (purchasing power parity)$51.68 billion (2013 est.)
$46.19 billion (2012 est.)
$42.34 billion (2011 est.)
note: data are in 2013 US dollars
GDP - real growth rate11.9% (2013 est.)
9.1% (2012 est.)
21.3% (2011 est.)
GDP - per capita (PPP)$88,700 (2013 est.)
$79,900 (2010 est.)
$73,900 (2009 est.)
GDP - composition, by sector of originagriculture: 0%
industry: 6.5%
services: 93.5% (2013 est.)
Population below poverty lineNA%
Household income or consumption by percentage sharelowest 10%: NA%
highest 10%: NA%
Labor force - by occupationmanufacturing: 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)
Exports - commoditiesclothing, textiles, footwear, toys, electronics, machinery and parts
Exports - partnersHong Kong 53.4%, China 17.7%, US 4% (2013 est.)
Agriculture - productsonly 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
Budgetrevenues: $19.44 billion
expenditures: $7.407 billion (2013 est.)
Imports - commoditiesraw materials and semi-manufactured goods, consumer goods (foodstuffs, beverages, tobacco, garments and footwear, motor vehicles), capital goods, mineral fuels and oils
Imports - partnersChina 32.6%, Hong Kong 13%, France 8.6%, Japan 5.9%, US 5% (2013 est.)
Exchange ratespatacas (MOP) per US dollar -
8 (2013 est.)
7.9899 (2012 est.)
8.0022 (2010 est.)
7.983 (2008)
8.011 (2007)
Exports$1.137 billion (2013 est.)
$1.02 billion (2012 est.)
note: includes reexports
Debt - external$0 (31 December 2013)
$0 (31 December 2012)
Fiscal yearcalendar year
Imports$10.13 billion (2013 est.)
$8.866 billion (2012 est.)
Industrial production growth rate17.6% (2013 est.)
Industriestourism, gambling, clothing, textiles, electronics, footwear, toys
Inflation rate (consumer prices)5.5% (2013 est.)
6.1% (2012 est.)
Labor force367,800 (2013 est.)
Unemployment rate1.8% (2013 est.)
2% (2012 est.)
Distribution of family income - Gini index35 (2013)
38 (2008)
Current account balance$18.69 billion (2012 est.)
$16.2 billion (2011 est.)
Reserves of foreign exchange and gold$16.15 billion (31 December 2013 est.)
$16.6 billion (31 December 2012 est.)
note: the Fiscal Reserves Act that came into force on 1 January 2012 requires the fiscal reserve to be separated from the foreign exchange reserves and to be managed separately; the transfer of assets took place in February 2012
GDP (official exchange rate)$51.68 billion (2013 est.)
Stock of direct foreign investment - at home$18.91 billion (31 December 2011 est.)
$14.91 billion (31 December 2011 est.)
Stock of direct foreign investment - abroad$1.166 billion (2012 est.)
$667.8 million (2011)
Market value of publicly traded shares$85.5 billion (2 March 2012 est.)
$46.1 billion (31 February 2011)
$2.3 billion (31 December 2008 est.)
Commercial bank prime lending rate5.25% (31 December 2013 est.)
5.25% (31 December 2012 est.)
Stock of domestic credit$-5.504 billion (31 December 2013 est.)
$-5.678 billion (31 December 2012 est.)
Stock of narrow money$7.363 billion (31 December 2013 est.)
$5.953 billion (31 December 2012 est.)
Stock of broad money$55.17 billion (31 December 2013 est.)
$46.87 billion (31 December 2012 est.)
Taxes and other revenues37.6% of GDP (2013 est.)
Budget surplus (+) or deficit (-)23.3% of GDP (2013 est.)
GDP - composition, by end usehousehold consumption: 18.7%
government consumption: 6.5%
investment in fixed capital: 12.8%
investment in inventories: 1.1%
exports of goods and services: 107%
imports of goods and services: -46%
(2013 est.)