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    Northern Mariana Islands Economy - 2002

      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 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 numbers reflect US spending

      GDP - real growth rate NA%

      GDP - per capita purchasing power parity - $12,500 (2000 est.)

      GDP - composition by sector
      agriculture: NA%
      industry: NA%
      services: NA%

      Population below poverty line NA%

      Household income or consumption by percentage share
      lowest 10%: NA%
      highest 10%: NA%

      Inflation rate (consumer prices) 1.2% (1997 est.)

      Labor force 6,006 total indigenous labor force; 2,699 unemployed; 28,717 foreign workers (1995)

      Labor force - by occupation NA

      Unemployment rate NA%

      revenues: $193 million
      expenditures: $223 million, including capital expenditures of NA (FY 2001/02 est.)

      Industries tourism, construction, garments, handicrafts

      Industrial production growth rate NA%

      Electricity - production NA kWh

      Electricity - consumption NA kWh

      Agriculture - products coconuts, fruits, vegetables; cattle

      Exports $NA

      Exports - commodities garments

      Exports - partners US

      Imports $NA

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

      Imports - partners US, Japan

      Debt - external $NA

      Economic aid - recipient extensive funding from US

      Currency US dollar (USD)

      Currency code USD

      Exchange rates the US dollar is used

      Fiscal year 1 October - 30 September

      NOTE: The information regarding Northern Mariana Islands on this page is re-published from the 2002 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Northern Mariana Islands Economy 2002 information contained here. All suggestions for corrections of any errors about Northern Mariana Islands Economy 2002 should be addressed to the CIA.

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    Revised 30-Jan-03
    Copyright © 2003 Photius Coutsoukis (all rights reserved)