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The Economy of Northern Mariana Islands

NA Economy

Northern Mariana Islands' map

Economy - overview: The economy benefits substantially from financial assistance from the US. The rate of funding has declined as locally generated government revenues have grown. The key tourist industry employs about 50% of the work force and accounts for roughly one-fourth of GDP. Japanese tourists predominate. Annual tourist entries have exceeded one-half million in recent years, but financial difficulties in Japan have caused a temporary slowdown. The agricultural sector is made up of cattle ranches and small farms producing coconuts, breadfruit, tomatoes, and melons. Garment production is by far the most important industry with the employment of 17,500 mostly Chinese workers and sizable shipments to the US under duty and quota exemptions.

GDP:

GDP - real growth rate: NA%

GDP - per capita:

GDP - composition by sector: agriculture: NA% industry: NA% services: NA%

Population below poverty line:

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

Distribution of family income - Gini index:

Inflation rate (consumer prices):

Labor force: 38,450 total indigenous labor force; 2,699 unemployed; 28,717 foreign workers (2005 est.)

Labor force - by occupation: agriculture: NA% industry: NA% services: NA%

Unemployment rate: 8% (2005 est.)

Budget: revenues: $193 million expenditures: $223 million (FY01/02 est.)

Industries: banking, construction, fishing, garment, tourism, handicrafts

Industrial production growth rate: NA%

Electricity - production: 60,600 kWh (January 2009)

Electricity - production by source:

Electricity - consumption: 48,300 kWh (January 2009)

Electricity - exports: 0 kWh (January 2009 est.)

Electricity - imports: 0 kWh (January 2009 est.)

Oil - production:

Oil - consumption:

Oil - exports:

Oil - imports:

Oil - proved reserves:

Natural gas - production:

Natural gas - consumption:

Natural gas - exports:

Natural gas - imports:

Natural gas - proved reserves:

Agriculture - products: vegetables and melons, fruits and nuts, ornamental plants, livestock, poultry and eggs, fish and aquaculture products

Exports: $98.2 million (2008)

Exports - commodities: garments

Exports - partners:

Imports: $214.4 million c.i.f. (2001)

Imports - commodities: food, construction equipment and materials, petroleum products

Imports - partners:

Debt - external: $NA

Economic aid - recipient:

Currency:

Currency code:

Exchange rates: the US dollar is used

Fiscal year: