| Economy | Northern Mariana Islands |
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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 (purchasing power parity):
|
$900 million (2000 est.)
note: GDP estimate includes US subsidy |
GDP - per capita (PPP):
|
$12,500 (2000 est.) |
GDP (official exchange rate):
|
$633.4 million (2000) |
GDP - real growth rate:
|
NA% |
GDP - composition by sector:
|
agriculture: NA%
industry: NA%
services: NA% |
Investment (gross fixed):
|
void |
Population below poverty line:
|
NA% |
Household income or consumption by percentage share:
|
lowest 10%: NA%
highest 10%: NA% |
Distribution of family income - Gini index:
|
void |
Inflation rate (consumer prices):
|
-0.8% (2000) |
Central bank discount rate:
|
void |
Commercial bank prime lending rate:
|
void |
Stock of money:
|
void |
Stock of money - per capita:
|
void |
Stock of quasi money:
|
void |
Stock of quasi money - per capita:
|
void |
Stock of domestic credit:
|
void |
Stock of domestic credit - per capita:
|
void |
Stock of narrow money:
|
void |
Stock of broad money:
|
void |
Labor force:
|
38,450
note: nearly 29,000 of these were foreign workers (2005 est.) |
Labor force participation rate:
|
83.50 % of population |
Labor force - by occupation:
|
agriculture: NA%
industry: NA%
services: NA% |
Unemployment rate:
|
8% (2005 est.)
3.9% (2001) |
Unemployment, youth ages 15-24:
|
total: 5.9%
male: 11.2%
female: 4.4% (2003) |
Budget:
|
revenues: $193 million
expenditures: $223 million (FY91/02) |
Budget revenues per capita:
|
4,192 USD per capita |
Taxes and other revenues:
|
30.5% of GDP (FY91/02) |
Budget surplus (+) or deficit (-):
|
-4.7% of GDP (FY91/02) |
Public debt:
|
void |
Industries:
|
banking, construction, fishing, garment, tourism, handicrafts |
Industrial production growth rate:
|
NA% |
Electricity - production:
|
60,600 kWh (January 2009) |
Electricity - production per capita:
|
2 kWh per capita |
Electricity - consumption:
|
48,300 kWh (January 2009) |
Electricity - consumption - per capita:
|
2 kWh per capita |
Electricity - exports:
|
0 kWh (January 2009 est.) |
Electricity - imports:
|
0 kWh (January 2009 est.) |
Oil - production:
|
void |
Oil - production per capita:
|
void |
Oil - consumption:
|
void |
Oil - consumption - per capita:
|
void |
Oil - exports:
|
void |
Oil - imports:
|
void |
Oil - proved reserves:
|
void |
Natural gas - production:
|
void |
Natural gas - production per capita:
|
void |
Natural gas - consumption:
|
void |
Natural gas - consumption - per capita:
|
void |
Natural gas - exports:
|
void |
Natural gas - imports:
|
void |
Natural gas - proved reserves:
|
void |
Agriculture - products:
|
vegetables and melons, fruits and nuts; ornamental plants; livestock, poultry and eggs; fish and aquaculture products |
Current account balance:
|
void |
Current account balance - per capita:
|
void |
Exports:
|
$98.2 million (2008) |
Exports per capita:
|
2,133 USD per capita |
Exports - commodities:
|
garments |
Exports - partners:
|
void |
Imports:
|
$214.4 million (2001) |
Imports per capita:
|
4,656 USD per capita |
Imports - commodities:
|
food, construction equipment and materials, petroleum products |
Imports - partners:
|
void |
Reserves of foreign exchange and gold:
|
void |
Reserves of foreign exchange and gold - per capita:
|
void |
Debt - external:
|
$NA |
Debt - external - per capita:
|
void |
Stock of direct foreign investment - at home:
|
void |
Stock of direct foreign investment - at home - per capita:
|
void |
Stock of direct foreign investment - abroad:
|
void |
Stock of direct foreign investment - abroad - per capita:
|
void |
Market value of publicly traded shares:
|
void |
Market value of publicly traded shares - per capita:
|
void |
Currency (code):
|
US dollar (USD) |
Exchange rates:
|
the US dollar is used |
Fiscal year:
|
1 October - 30 September |
|
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