Northern Mariana Islands Economy - 2023

GEOGRAPHICAL NAMES 

Economic overview

US Pacific island commonwealth economy; growing Chinese and Korean tourist destination; hit hard by 2018 typhoon; dependent on energy imports; exempt from some US labor and immigration laws; longstanding garment production

Real GDP (purchasing power parity)

$1.242 billion (2016 est.)

$933 million (2015 est.)

$845 million (2014 est.)

note: GDP estimate includes US subsidy; data are in 2013 dollars

Real GDP growth rate

-11.14% (2019 est.)

-19.35% (2018 est.)

23.17% (2017 est.)

Real GDP per capita

$24,500 (2016 est.)

$18,400 (2015 est.)

$16,600 (2014 est.)

GDP (official exchange rate)

$1.242 billion (2016 est.)

Inflation rate (consumer prices)

0.3% (2016 est.)

0.1% (2015 est.)

GDP - composition, by sector of origin

agriculture: 1.7% (2016)

industry: 58.1% (2016 est.)

services: 40.2% (2016)

GDP - composition, by end use

household consumption: 43.1% (2016 est.)

government consumption: 28.9% (2016 est.)

investment in fixed capital: 26.3% (2016 est.)

investment in inventories: (2016 est.) NA

exports of goods and services: 73.6% (2016 est.)

imports of goods and services: -71.9% (2016 est.)

Agricultural 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

N/A

Labor force

27,970 (2010 est.)

note: includes foreign workers

Labor force - by occupation

agriculture: 1.9%

industry: 10%

services: 88.1% (2010 est.)

Unemployment rate

11.2% (2010 est.)

8% (2005 est.)

Population below poverty line

N/A

Household income or consumption by percentage share

lowest 10%: NA

highest 10%: NA

Budget

revenues: $389.6 million (2016 est.)

expenditures: $344 million (2015 est.)

Budget surplus (+) or deficit (-)

3.7% (of GDP) (2016 est.)

Public debt

7.1% of GDP (2017 est.)

Taxes and other revenues

31.4% (of GDP) (2016 est.)

Fiscal year

1 October - 30 September

Exports

$914 million (2016 est.)

$520 million (2015 est.)

Exports - partners

South Korea 73%, Peru 5% (2019)

Exports - commodities

scrap iron, refined petroleum, scrap copper, hydraulic engines, integrated circuits, peas, scrap aluminum (2021)

Imports

$893 million (2016 est.)

$638 million (2015 est.)

Imports - partners

Hong Kong 29%, Japan 29%, Singapore 16%, South Korea 9% (2019)

Imports - commodities

refined petroleum, trunks/cases, cars, watches, jewelry (2019)

Debt - external

N/A

Exchange rates

the US dollar is used

NOTE: The information regarding Northern Mariana Islands on this page is re-published from the 2023 World Fact Book of the United States Central Intelligence Agency and other sources. No claims are made regarding the accuracy of Northern Mariana Islands 2023 information contained here. All suggestions for corrections of any errors about Northern Mariana Islands 2023 should be addressed to the CIA or the source cited on each page.