o-Communist merchants representing China's interests; in January 1967 the
Macau Government acceded to Chinese demands that gave China veto power over
administration
Member of:
IMO (associate), WTO (associate)
Diplomatic representation:
as Chinese territory under Portuguese administration, Macanese interests in
the US are represented by Portugal
US:
the US has no offices in Macau, and US interests are monitored by the US
Consulate General in Hong Kong
Flag:
the flag of Portugal is used

:Macau 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 represented 36%
of GDP in 1991. 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:
exchange rate conversion - $3.1 billion, per capita $6,900; real growth rate
6% (1991 est.)
Inflation rate (consumer prices):
8.8% (1990 est.)
Unemployment rate:
2% (1989 est.)
Budget:
revenues $305 million; expenditures $298 million, including capital
expenditures of $NA (1989)
Exports:
$1.5 billion (1990 est.)
commodities:
textiles, clothing, toys
partners:
US 33%, Hong Kong 15%, FRG 12%, France 10% (1987)
Imports:
$1.8 billion (1990 est.)
commodities:
raw materials, foodstuffs, capital goods
partners:
Hong Kong 39%, China 21%, Japan 10% (1987)
External debt:
$91 million (1985)
Industrial production:
NA
Electricity:
220,000 kW capacity; 520 million kWh produced, 1,165 kWh per capita (1991)
Industries:
clothing, textiles, toys, plastic products, furniture, tourism
Agriculture:
rice, vegetables; food shortages - rice, vegetables, meat; depends mostly on
imports for food requirements
Economic aid:
none
Currency:
pataca (plural - patacas); 1 pataca (P) = 100 avos
Exchange rates:
patacas (P) per US$1 - 8.034 (1991), 8.024 (1990), 8.030 (1989), 8.044
(1988), 7.993 (1987); note - linked to the Hong Kong dollar at the rate of
1.03 patacas per Hong Kong dollar
Fiscal year:
calendar