About Macau, China & Key Financial Statistics









About Macau, China and Key Financial Statistics



Overview of 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 China's decision to relax travel restrictions on Chinese citizens wishing to visit Macau. In 2014, Macau's gaming-related taxes accounted for more than 83% 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 2014, this city of 636,200 hosted nearly 31.5 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 2.6% in 2014. As a result, Macau's inflation-adjusted GDP contracted 0.4% from 2013, down from double-digit expansion rates in 2010-13. Non-inflation adjusted exports of goods and services dropped 0.4% from 2013, 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.



Gross Domestic Product (In USD):

$51.68 billion (2013 est.)
$46.19 billion (2012 est.)
$42.34 billion (2011 est.)



Composition of Gross Domestic Product:


% Agricuture: 0

% Industry: 6.4

% Services: 93.6


Composition of Labor Force by Occupation:

% Agriculture:

% Industry:

% Services: 22.9


Per Capita Income:

$88,700 (2013 est.)
$79,900 (2010 est.)
$73,900 (2009 est.)



Exports:

$1.137 billion (2013 est.)
$1.384 billion (2012 est.)



Key Export Commodities:

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



Export Partners:

Hong Kong 58.6%, China 15.7% (2014 est.)



Imports:

$10.13 billion (2013 est.)
$8.866 billion (2012 est.)



Key Import Commodities:

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



Import Partners:

China 33.2%, Hong Kong 10.3%, Switzerland 9.1%, France 8.4%, Italy 6.9%, US 6.5%, Japan 5.6% (2014 est.)



Inflation Rate (Consumer Price Index):

6% (2014 est.)
5.5% (2013 est.)




Exchange Rate to USD:

patacas (MOP) per US dollar -
7.9871 (2014 est.)
7.9871 (2013 est.)
7.99 (2012 est.)
8.0182 (2011 est.)
8.0022 (2010 est.)




Unemployment Rate:

1.9% (2013 est.)
1.9% (2013 est.)


S&P Rating:



Standard & Poor's Ratings:

  • AAA: The best quality borrowers, reliable and stable
  • AA: Quality borrowers, a bit higher risk than AAA
  • A: Economic situation can affect finance
  • BBB: Medium class borrowers, which are satisfactory at the moment
  • BB: More prone to changes in the economy
  • B: Financial situation varies noticeably
  • CCC: An obligor rated currently vulnerable, and is dependent upon favorable business, financial, and economic conditions to meet its financial commitments.






Ref 2012-2014: CIA World Factbook, Wikipedia, PWC, EY, Standard & Poors ratings