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. 1996 Index
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Northern Mariana Islands Economy 1996
The economy benefits substantially from financial assistance from the US.
The rate of funding has declined as locally generated government revenues
have grown. An agreement for the years 1986 to 1992 entitled the islands to
$228 million for capital development, government operations, and special
programs. A rapidly growing major source of income is the tourist industry,
which now employs about 50% of the work force. Japanese tourists
predominate. The agricultural sector is of minor importance and is made up
of cattle ranches and small farms producing coconuts, breadfruit, tomatoes,
and melons. Industry is small scale, mostly handicrafts, light
manufacturing, and garment production.
GDP - purchasing power parity - $524 million (1994 est.)
GDP numbers reflect US spending
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National product real growth rate:
-
National product per capita:
-
Inflation rate (consumer prices):
$190.4 million, including capital expenditures of $19.1 million (FY94/95)
$263.4 million (f.o.b. 1991 est.)
$392.4 million (c.i.f. 1991 est.)
food, construction equipment and materials, petroleum products
tourism, construction, light industry, handicrafts
coconuts, fruits, cattle, vegetables; food is a major import
1 United States dollar (US$) = 100 cents
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