Economy ———-
Economic overview: The economy benefits substantially from financial assistance from the US. The rate of funding has declined as locally generated government revenues have grown. An agreement for the years 1986 to 1992 entitled the islands to $228 million for capital development, government operations, and special programs. A rapidly growing major source of income is the tourist industry, which now employs about 50% of the work force. Japanese tourists predominate. The agricultural sector is of minor importance and is made up of cattle ranches and small farms producing coconuts, breadfruit, tomatoes, and melons. Industry is small scale, mostly handicrafts, light manufacturing, and garment production.
GDP: purchasing power parity - $524 million (1994 est.) note: GDP numbers reflect US spending
GDP real growth rate: NA%
GDP per capita: $10,500 (1994 est.)
GDP composition by sector: agriculture: NA% industry: NA% services: NA%
Inflation rate (consumer prices): 6.5% (1994 est.)
Labor force: 7,476 total indigenous labor force; 2,699 unemployed; 21,188 foreign workers (1990) by occupation: NA
Unemployment rate: NA%
Budget:
revenues: $190.4 million
expenditures: $190.4 million, including capital expenditures of
$19.1 million (FY94/95)