Economy
The city is southern Sulawesi's primary port, with regular domestic and international shipping connections. It is nationally famous as an important port of call for the pinisi boats, sailing ships which are among the last in use for regular long-distance trade.
During the colonial era, the city was famous for being the namesake of Makassar oil, which it exported in great quantity. Makassar ebony is a warm black hue, streaked with tan or brown tones, and highly prized for use in making fine cabinetry and veneers.
Nowadays, as the largest city in Sulawesi Island and Eastern Indonesia, the city's economy depends highly on service sectors with approximately 70% from total share. Restaurant and hotel service are the largest contributor (29.14%), followed by transportation and communication (14.86%), trading (14.86), finance (10.58%). Industry follows behind service with 21.34%.
Read more about this topic: Makassar
Famous quotes containing the word economy:
“It enhances our sense of the grand security and serenity of nature to observe the still undisturbed economy and content of the fishes of this century, their happiness a regular fruit of the summer.”
—Henry David Thoreau (1817–1862)
“Quidquid luce fuit tenebris agit: but also the other way around. What we experience in dreams, so long as we experience it frequently, is in the end just as much a part of the total economy of our soul as anything we “really” experience: because of it we are richer or poorer, are sensitive to one need more or less, and are eventually guided a little by our dream-habits in broad daylight and even in the most cheerful moments occupying our waking spirit.”
—Friedrich Nietzsche (1844–1900)
“The basis of political economy is non-interference. The only safe rule is found in the self-adjusting meter of demand and supply. Do not legislate. Meddle, and you snap the sinews with your sumptuary laws.”
—Ralph Waldo Emerson (1803–1882)