CNMI Economy

How is the current economic situation in Saipan, Tinian, and Rota?
Right now, there is a current economic downturn. However, things are projected to improve in the upcoming years. The US government is staging a massive military buildup in the neighboring island of Guam. This will spill over in the forms of contracts and tourism to Saipan. The casino industry in Tinian is currently improving as plans to build three new multi-million dollar casinos are pending. Tinian will also serve as a training site for US military. Right now the real estate market in Saipan is at a low, but is project to improve in the upcoming years. With news up the upcoming buildup, Guam prices have sky-rocketed.

General Economic Information

Number of Islands …………………………………………14
Number of Inhabited Islands ………………………….6
CNMI Land Area …………………………………………….176.5 sq. miles
CNMI Water Area …………………………………………..264,000 sq. miles
Average Temperature ……………………………………85F
Average Monthly Rainfall ………………………………5.4 inches
Estimated Population (2005) ………………………………………….65,927
Main Languages Spoken…………………………………English, Chamorro, Carolinian, Chinese, Filipino, Korean, Japanese, and other Pacific Island languages
Currency………………………………………………………U.S. Dollar
Gross Island Product (GIP) …………………………….$948,000,000.00
Per Capita GIP ………………………………………………$12,638
Average Household Income ………………………………………..$25,172
Primary Industries ………………………………………..Tourism and Garment Mfg.
Total Labor Force …………………………………………44,471
U.S. Citizens in Labor Force …………………………..8,621
Non U.S. Citizens in Labor Force ……………………34,132
Employed Labor Force …………………………………..42,753
Sources: CNMI Department of Commerce; Census 2000, 2002 CNMI Statistical Yearbook, 2002 GIP Estimate.