Northern Mariana Islands: Economy#

The Northern Mariana Islands' economy benefits substantially from financial assistance from the US. The tourist industry employs approximately a quarter of the work force and accounts for roughly one-fourth of GDP. As a share of total arrivals, the number of Japanese tourists has dropped recently to less than half, while Korean visitors account for roughly one-third. Annual tourist arrivals have remained below 400,000 since 2007. Other services such as trade are also important to the local economy. The small agriculture sector is made up of cattle ranches and small farms producing coconuts, breadfruit, tomatoes, and melons.

Economic Facts#

GDP (purchasing power parity)$733 million (2010 est.)
note: GDP estimate includes US subsidy
GDP - per capita (PPP)$13,600 (2010 est.)
GDP - composition, by sector of originagriculture: 1.7%
industry: 3.3%
services: 95% (2010)
Population below poverty lineNA%
Household income or consumption by percentage sharelowest 10%: NA%
highest 10%: NA%
Labor force - by occupationagriculture: 1.9%
industry: 10%
services: 88.1% (2010 est.)
Exports - commoditiesgarments
Agriculture - productsvegetables and melons, fruits and nuts; ornamental plants; livestock, poultry, eggs; fish and aquaculture products
Budgetrevenues: $260 million
expenditures: $318.2 million (FY10/11)
Imports - commoditiesfood, construction equipment and materials, petroleum products
Exchange ratesthe US dollar is used
Exports$98.2 million (2008)
Debt - external$NA
Fiscal year1 October - 30 September
Imports$214.4 million (2001)
Industrial production growth rateNA%
Industriestourism, banking, construction, fishing, handicrafts, other services
Inflation rate (consumer prices)-2.7% (2012 est.)
Labor force38,450
note: includes nearly 29,000 foreign workers (2005 est.)
Unemployment rate11.2% (2010 est.)
8% (2005 est.)
GDP (official exchange rate)$733 million (2010 est.)
Taxes and other revenues35.5% of GDP (FY10/11 est.)
Budget surplus (+) or deficit (-)-7.9% of GDP (FY10/11 est.)