Names: conventional long form: Macau Special Administrative Region conventional short form: Macau local long form: Aomen Tebie Xingzhengqu (Chinese); Regiao Administrativa Especial de Macau (Portuguese) local short form: Aomen (Chinese); Macau (Portuguese)
Capital City:
Population: 453,125 (July 2006 est.)
GDP Per Capita: $24,300 (2005)
Currency: pataca (MOP)
Languages: Cantonese 87.9%, Hokkien 4.4%, Mandarin 1.6%, other Chinese dialects 3.1%, other 3% (2001 census)
Total Area: total: 28.2 sq km land: 28.2 sq km water: 0 sq km less than one-sixth the size of Washington, DC
Region: Asia
Industries: tourism, gambling, clothing, textiles, electronics, footwear, toys
Agriculture: 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
Resources: NEGL
Labor Force:
248,000 (2005)
manufacturing 13.7%, construction 13.7%, transport and communications 5.9%, wholesale and retail trade 10.5%, restaurants and hotels 10.3%, gambling 5.9%, public sector 7.8%, other services and agriculture 19.3% (2005 est.)
Exports:
$3.156 billion f.o.b.; note - includes reexports (2005)
clothing, textiles, footwear, toys, electronics, machinery and parts
Imports:
$3.912 billion c.i.f. (2005)
raw materials and semi-manufactured goods, consumer goods (foodstuffs, beverages, tobacco), capital goods, mineral fuels and oils
Overview:
Macau's well-to-do economy has remained one of the most open in the world since its reversion to China in 1999. Apparel exports and tourism are mainstays of the economy. Although the territory was hit hard by the 1997-98 Asian financial crisis and the global downturn in 2001, its economy grew 10.1% in 2002, 14.2% in 2003, and 28.6% in 2004 before slowing to 6.7% in 2005. The economic boom was powered by gambling, tourism, and the construction necessary to support such endeavours. China's decision to ease travel restrictions led to a rapid rise in the number of mainland visitors. The opening of Macau's gaming industry to foreign access in 2001 spurred an increase in public works expenditures. 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. Much of Macau's textile industry may move to the mainland due to the termination in 2005 of the Multi-Fiber Agreement, which provided a near guarantee of export markets, leaving the territory more dependant on gambling and trade-related services to generate growth. The Closer Economic Partnership Agreement (CEPA) between Macau and mainland China that came into effect on 1 January 2004 offers many Macau-made products tariff-free access to the mainland. The range of products covered by CEPA was expanded on 1 January 2005.
In 2007 Missouri exported $822,495 in goods to Macau. This ranks Macau 98th among the 223 international buyers of Missouri goods. Missouri exports to Macau increased from the previous year by $666,549 a change of 427.42%. State exports to Macau have increased over the last 5 years by $580,592 a change of 240.01%. Missouri exports account for .01%. of all 2007 US exports to Macau.
| NAICS Industry | Annual | ||||||
|---|---|---|---|---|---|---|---|
| 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | ||
| 000 - Total All Industries MO | 241,903 | 451,887 | 677,189 | 190,302 | 155,946 | 822,495 | |
| 000 - Total All Industries US | 79,037,234 | 54,566,002 | 85,535,636 | 101,575,899 | 200,225,783 | 226,447,445 | |