Macau/

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.

$18.47 billion (2009 est.)

$18.14 billion (2008 est.)

$14.4 billion (2006)

$22.1 billion (2009 est.)

1% (2009 est.)

12.9% (2008)

26% (2007)

$33,000 (2009)

$31,800 (2008)

$28,400 (2006)

322,000 (2009 est.)

3.6% (2009)

3% (2008)

NA%

1.2% (December 2009)

8.6% (2008)

5.25% (31 December 2009 est.)

5.43% (31 December 2008 est.)

$3.831 billion (31 December 2009)

$3.099 billion (31 December 2008)

$26.56 billion (31 December 2009 est.)

$23.78 billion (31 December 2008)

$1.717 billion (31 December 2008 est.)

$847 million (31 December 2007 est.)

$2.3 billion (31 December 2008 est.)

$NA (31 December 2007)

$413.1 million (2004 est.)

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

tourism, gambling, clothing, textiles, electronics, footwear, toys

NA%

1.424 billion kWh (2009 est.)

3.474 billion kWh (2009 est.)

0 kWh (2009 est.)

2.215 billion kWh (2009 est.)

0 bbl/day (2009 est.)

16,000 bbl/day (2009 est.)

0 bbl/day (2009 est.)

9,294 bbl/day (2009 est.)

0 bbl (1 January 2010 est.)

0 cu m (2009 est.)

91.3 million cu m (2009)

0 cu m (2009 est.)

97.8 million cu m (2009 est.)

300,000 cu m (1 January 2008 est.)

$NA

$950 million (2009 est.)

$2 billion (2008); note - includes reexports

clothing, textiles, footwear, toys, electronics, machinery and parts

Hong Kong 38.7%, US 17.9%, China 14.4%, Germany 4% (2009)

$4.5 billion (2009 est.)

$5.4 billion (2008 est.)

raw materials and semi-manufactured goods, consumer goods (foodstuffs, beverages, tobacco), capital goods, mineral fuels and oils

China 31.1%, Hong Kong 10.8%, Japan 8.1%, France 8%, US 6.2% (2009)

$NA

$0 (2009)

$13.6 billion (2008 est.)

$11.1 billion (#REF! est.)

$980 million (2009 est.)

$1 billion (2008 est.)

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