exports of goods and services account for roughly 41% of GDP with
tourism and apparel exports as the mainstays. Although the territory
was hit hard by the 1998 Asian financial crisis and the global
downturn in 2001, its economy grew 9.5% in 2002. A rapid rise in the
number of mainland visitors because of China's easing of
restrictions on travel drove the recovery. The budget also returned
to surplus in 2002 because of the surge in visitors from China and a
hike in taxes on gambling profits, which generated about 70% of
government revenue. The liberalization of Macao's gambling monopoly
contributes to GDP growth, as the three companies awarded gambling
licenses have pledged to invest $2.2 billion in the territory. Much
of Macau's textile industry may move to the mainland as the
Multi-Fiber Agreement is phased out. The territory may have to rely
more on gambling and trade-related services to generate growth. The
government estimated GDP growth at 4% in 2003 with the drop in large
measure due to concerns over the Severe Acute Respiratory Syndrome
(SARS), but private sector analysts think the figure may have been
higher because of the continuing boom in tourism.

GDP:
purchasing power parity - $9.1 billion (2003 est.)

GDP - real growth rate:
4% (2003 est.)

GDP - per capita:
purchasing power parity - $19,400 (2003 est.)

GDP - composition by sector:
agriculture: 1%
industry: 12%
services: 87% (2002 est.)

Population below poverty line:
NA

Household income or consumption by percentage share:
lowest 10%: NA
highest 10%: NA

Inflation rate (consumer prices):
-2.6% (2003 est.)

Labor force:
214,000 (2002)

Labor force - by occupation:
manufacturing 20%, construction 7%, transport and communications
6%, wholesale and retail trade 15%, restaurants and hotels 12%,
gambling 7%, public sector 8%, other services and agriculture 25%
(2002 est.)

Unemployment rate:
6.3% (2003)

Budget:
revenues: $1.9 billion
expenditures: $1.68 billion, including capital expenditures of $194
million (2002)

Agriculture - products:
vegetables, livestock

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

Industrial production growth rate:
NA

Electricity - production:
1.611 billion kWh (2002)

Electricity - consumption:
1.688 billion kWh (2002)

Electricity - exports:
1 million kWh (2001)

Electric