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Northern Mariana Islands Economy Profile 2017

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Economy - overviewThe 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
GDP (official exchange rate)$1.232 billion (2013 est.)
GDP - real growth rate4.5% (2013)
2.1% (2012)
-6.8% (2011)
GDP - per capita (PPP)$13,300 (2013 est.)
$12,900 (2012)
$12,400 (2011)
GDP - composition, by end usehousehold consumption: 91.3%
government consumption: 51.5%
investment in fixed assets: 3.8%
investements in inventories: NA%
exports of goods and services: 42.2%
imports of goods and services: -88.9% (2013)
GDP - composition by sectoragriculture: 1.7%
industry: 2.9%
services: 95.4% (2012)
Population below poverty lineNA%
Labor force27,970
note: includes foreign workers (2010 est.)
Labor force - by occupationagriculture: 1.9%
industry: 10%
services: 88.1% (2010 est.)
Unemployment rate11.2% (2010 est.)
8% (2005 est.)
Household income or consumption by percentage sharelowest 10%: NA%
highest 10%: NA%
Budgetrevenues: $246.4 million
expenditures: $249.8 million (2013 est.)
Taxes and other revenues20% of GDP (2013 est.)
Budget surplus (+) or deficit (-)-0.3% of GDP (2013 est.)
Inflation rate (consumer prices)-2.5% (2013 est.)
1.1% (2012)
Agriculture - productsvegetables and melons, fruits and nuts; ornamental plants; livestock, poultry, eggs; fish and aquaculture products
Industriestourism, banking, construction, fishing, handicrafts, other services
Industrial production growth rateNA%
Exports$288 million (2013)
$268 million (2012)
Exports - commoditiesgarments
Imports$606 million (2013)
$531 million (2012)
Imports - commoditiesfood, construction equipment and materials, petroleum products
Debt - external$NA
Exchange ratesthe US dollar is used
Fiscal year1 October - 30 September

Source: CIA World Factbook
This page was last updated on July 9, 2017