Compare Macau (2008) - Macau (2007)

Compare Macau (2008) z Macau (2007)

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	Macau (2008)	Macau (2007)

Background	Colonized by the Portuguese in the 16th century, Macau was the first European settlement in the Far East. Pursuant to an agreement signed by China and Portugal on 13 April 1987, Macau became the Macau Special Administrative Region (SAR) of China on 20 December 1999. In this agreement, China has promised that, under its "one country, two systems" formula, China's socialist economic system will not be practiced in Macau, and that Macau will enjoy a high degree of autonomy in all matters except foreign and defense affairs for the next 50 years.	Colonized by the Portuguese in the 16th century, Macau was the first European settlement in the Far East. Pursuant to an agreement signed by China and Portugal on 13 April 1987, Macau became the Macau Special Administrative Region (SAR) of China on 20 December 1999. China has promised that, under its "one country, two systems" formula, China's socialist economic system will not be practiced in Macau, and that Macau will enjoy a high degree of autonomy in all matters except foreign and defense affairs for the next 50 years.
Budget	revenues: $4.6 billion expenditures: $3.4 billion (2006)	revenues: $3.16 billion expenditures: $3.16 billion (FY05/06)
Debt - external	$0 (2006)	$3.1 billion (2004)
Diplomatic representation from the US	the US has no offices in Macau; US Consulate General in Hong Kong is accredited to Macau	the US has no offices in Macau; US interests are monitored by the US Consulate General in Hong Kong
Economic aid - recipient	$13.7 million (2004)	$NA (2004)
Economy - overview	Macau's economy has enjoyed strong growth in recent years on the back of its expanding tourism and gaming sectors. Since opening up its locally-controlled casino industry to foreign competition in 2001, the territory has attracted 10s of billions of dollars in foreign investment that have helped transform it into the world's largest gaming center. In 2006, Macau's gaming revenue surpassed that of the Las Vegas strip, and gaming-related taxes accounted for 75% of total government revenue. The expanding casino sector, and China's decision beginning in 2002 to relax travel restrictions, have reenergized Macau's tourism industry, which saw total visitors grow to 27 million in 2007, up 62% in three years. Macau's strong economic growth has put pressure its labor market prompting businesses to look abroad to meet their staffing needs. The resulting influx of non-resident workers, who totaled one-fifth of the workforce in 2006, has fueled tensions among some segments of the population. Macau's traditional manufacturing industry has been in a slow decline. In 2006, exports of textiles and garments generated only $1.8 billion compared to $6.9 billion in gross gaming receipts. Macau's textile industry will continue to move to the mainland because of the termination in 2005 of the Multi-Fiber Agreement, which provided a near guarantee of export markets, leaving the territory more dependent on gambling and trade-related services to generate growth. However, 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. Macau's currency, the Pataca, is closely tied to the Hong Kong dollar, which is also freely accepted in the territory.	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 endeavors. 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 dependent 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.
Electricity - consumption	2.37 billion kWh (2006)	2.16 billion kWh (2005)
Electricity - exports	0 kWh (2006)	0 kWh (2005)
Electricity - imports	964.4 million kWh (2006)	341 million kWh (2005)
Electricity - production	1.67 billion kWh (2006)	1.947 billion kWh (2005)
Exchange rates	patacas per US dollar - 8.011 (2007), 8.0015 (2006), 8.011 (2005), 8.022 (2004), 8.021 (2003)	patacas per US dollar - 8.0015 (2006), 8.011 (2005), 8.022 (2004), 8.021 (2003), 8.033 (2002)
GDP - composition by sector	agriculture: 0.1% industry: 3.9% services: 96% (2006 est.)	agriculture: 0.1% industry: 7.2% services: 92.7% (2002 est.)
GDP - real growth rate	16.6% (2006)	6.7% (2005)
Imports	13,870 bbl/day (2006)	12,840 bbl/day (2005)
Industrial production growth rate	3.8%	NA%
Inflation rate (consumer prices)	7.2% (2006)	4.4% (2005)
Labor force	275,000 (2006)	248,000 (2005)
Labor force - by occupation	manufacturing 11.1%, construction 11.7%, transport and communications 6.3%, wholesale and retail trade 13.7%, restaurants and hotels 11.3%, gambling 19.8%, public sector 7.7%, financial services 2.6%, other services and agriculture 15.7% (2006)	manufacturing 13.7%, construction 10.5%, transport and communications 5.9%, wholesale and retail trade 14.6%, restaurants and hotels 10.3%, gambling 17.9%, public sector 7.8%, other services and agriculture 19.3% (2005 est.)
Political parties and leaders	Civil Service Union [Jose Maria Pereira COUTINHO]; Development Union [KWAN Tsui-hang]; Macau Development Alliance [Angela LEONG On-kei]; Macau United Citizens' Association [CHAN Meng-kam]; New Democratic Macau Association [Antonio NG Kuok-cheong]; United Forces note: there is no political party ordinance, so there are no registered political parties; politically active groups register as societies or companies	Civil Service Union [Jose Maria Pereira COUTINHO]; Development Union [KWAN Tsui-hang]; Macau Development Alliance [Angela LEONG On-kei]; Macau United Citizens' Association [CHAN Meng-kam]; New Democratic Macau Association [Antonio NG Kuok-cheong]; United Forces
Suffrage	direct election 18 years of age for some non-executive positions, universal for permanent residents living in Macau for the past seven years; indirect election limited to organizations registered as "corporate voters" (257 are currently registered) and a 300-member Election Committee drawn from broad regional groupings, municipal organizations, and central government bodies	direct election 18 years of age, universal for permanent residents living in Macau for the past seven years; indirect election limited to organizations registered as "corporate voters" (257 are currently registered) and a 300-member Election Committee drawn from broad regional groupings, municipal organizations, and central government bodies
Telephone system	general assessment: fairly modern communication facilities maintained for domestic and international services domestic: termination of monopoly over mobile-cellular telephone services in 2001 spurred sharp increase in subscriptions with mobile-cellular teledensity approaching 140 per 100 persons in 2006; fixed-line teledensity about 40 per 100 persons international: country code - 853; landing point for the SEA-ME-WE-3 submarine cable network that provides links to Asia, the Middle East, and Europe; HF radiotelephone communication facility; satellite earth station - 1 Intelsat (Indian Ocean)	general assessment: fairly modern communication facilities maintained for domestic and international services domestic: NA international: country code - 853; HF radiotelephone communication facility; access to international communications carriers provided via Hong Kong and China; satellite earth station - 1 Intelsat (Indian Ocean)
Telephones - main lines in use	178,013 (2007)	176,700 (2006)
Telephones - mobile cellular	794,323 (2007)	636,300 (2006)
Unemployment rate	3.1% (2006)	4.1% (2005)

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