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Northern Mariana Islands Economy 2017
https://theodora.com/wfbcurrent/northern_mariana_islands/northern_mariana_islands_economy.html
SOURCE: 2017 CIA WORLD FACTBOOK AND OTHER SOURCES











Northern Mariana Islands Economy 2017
SOURCE: 2017 CIA WORLD FACTBOOK AND OTHER SOURCES


Page last updated on January 12, 2017

Economy - overview:
The Northern Mariana Islands' economy benefits substantially from financial assistance from the US. In fiscal year 2013, federal grants accounted for 35.4% of the Commonwealth’s total revenues. A small agriculture sector is made up of cattle ranches and small farms producing coconuts, breadfruit, tomatoes, and melons.The Commonwealth’s economy continued to recover in 2013. Real GDP increased 4.4%, following a 2.1% gain in 2012. Economic growth in 2013 reflected increases in consumer spending and exports of services, mainly spending by foreign tourists.Tourism continued to grow in 2013, after posting double-digit growth in 2012. The tourist industry employs approximately a quarter of the work force and accounts for roughly one-fourth of GDP. The Commonwealth is making a concerted effort to broaden its tourism by extending casino gambling from the small Islands of Tinian and Rota to the main Island of Saipan, its political and commercial center.

GDP (purchasing power parity):
$682 million (2013 est.) $665 million (2012) $649 million (2011)
note: GDP estimate includes US subsidy
country comparison to the world: 210
[see also: GDP country ranks ]

GDP (official exchange rate):
$1.232 billion (2013 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
4.5% (2013) 2.1% (2012) -6.8% (2011)
country comparison to the world: 50
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$13,300 (2013 est.) $12,900 (2012) $12,400 (2011)
country comparison to the world: 118
[see also: GDP - per capita country ranks ]

GDP - composition, by end use:
household consumption: 91.3%
[see also: GDP - composition, by end use - household consumption country ranks ]
government consumption: 51.5%
[see also: GDP - composition, by end use - government consumption country ranks ]
investment in fixed assets: 3.8%
investements in inventories: NA%
exports of goods and services: 42.2%
[see also: GDP - composition, by end use - exports of goods and services country ranks ]
imports of goods and services: -88.9% (2013)
[see also: GDP - composition, by end use - imports of goods and services country ranks ]

GDP - composition, by sector of origin:
agriculture: 1.7%
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
industry: 2.9%
[see also: GDP - composition, by sector of origin - industry country ranks ]
services: 95.4% (2012)
[see also: GDP - composition, by sector of origin - services country ranks ]

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

Industries:
tourism, banking, construction, fishing, handicrafts, other services

Industrial production growth rate:
NA%
[see also: Industrial production growth rate country ranks ]

Labor force:
27,970
note: includes foreign workers (2010 est.)
country comparison to the world: 205
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 1.9%
[see also: Labor force - by occupation - agriculture country ranks ]
industry: 10%
[see also: Labor force - by occupation - industry country ranks ]
services: 88.1% (2010 est.)
[see also: Labor force - by occupation - services country ranks ]

Unemployment rate:
11.2% (2010 est.) 8% (2005 est.)
country comparison to the world: 128
[see also: Unemployment rate country ranks ]

Population below poverty line:
NA%
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
lowest 10%: NA%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: NA%
[see also: Household income or consumption by percentage share - highest 10% country ranks ]

Budget:
revenues: $246.4 million
[see also: Budget revenues country ranks ]
expenditures: $249.8 million (2013 est.)
[see also: Budget expenditures country ranks ]

Taxes and other revenues:
20% of GDP (2013 est.)
country comparison to the world: 154
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-0.3% of GDP (2013 est.)
country comparison to the world: 35
[see also: Budget surplus (+) or deficit (-) country ranks ]

Fiscal year:
1 October - 30 September

Inflation rate (consumer prices):
-2.5% (2013 est.) 1.1% (2012)
country comparison to the world: 2
[see also: Inflation rate (consumer prices) country ranks ]

Exports:
$288 million (2013) $268 million (2012)
country comparison to the world: 183
[see also: Exports country ranks ]

Exports - commodities:
garments

Imports:
$606 million (2013) $531 million (2012)
country comparison to the world: 189
[see also: Imports country ranks ]

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

Debt - external:
$NA
[see also: Debt - external country ranks ]

Exchange rates:
the US dollar is used

NOTE: The information regarding Northern Mariana Islands on this page is re-published from the 2017 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Northern Mariana Islands Economy 2017 information contained here. All suggestions for corrections of any errors about Northern Mariana Islands Economy 2017 should be addressed to the CIA.




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This page was last modified 22-Feb-17
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