Macau's GDP per capita is the highest in China. Mainly the secondary industry and the tertiary industry. Macao's economy is small, but highly export-oriented. It is one of the two free ports of international trade in China, where goods, capital, foreign exchange and people can enter and leave freely.
It is also one of the regions with the lowest tax rate in the region, with the status of a separate customs territory, close ties with the international economy, and traditional and special relations with the European Union and Portuguese-speaking countries.
Manufacturing industry in Macao:
Macau's manufacturing industry is mainly textile and garment industry, which is labor-intensive and export-oriented, and most of its products are sold to the United States and Europe. The manufacturing industry has a long history in Macao. In the early days, firecrackers and incense were the main products.
As the main manufacturing industry in Macao, the textile and garment industry began in the 1960s, and entered the golden age in the 1970s and 1980s. Besides textiles and clothing, toys, electronics and rayon flowers are also flourishing. In the 1990s, due to the economic weakness of the two export markets in Europe and America, the increase of local wages and the price competition of products from newly industrialized countries, the pace of manufacturing development in Macao slowed down obviously.