Northern Mariana Islands Export Data

Northern Mariana Islands' Import/Export Insight and Economic Overview

Imports & Exports

• Top Trade Partners: The Northern Mariana Islands' trade is significantly influenced by the United States, Japan, South Korea, and Taiwan, reflecting regional economic ties.

• Imports: The top 5 imports include machinery, electrical equipment, vehicles, textiles, and chemicals, collectively accounting for over 60% of total imports.

• Exports: Textiles, garments, and electronic components lead the export list, with garments alone comprising around 30% of total exports.

• Trade Deficit: The islands maintain a consistent trade deficit, primarily due to high import volumes driven by consumption needs and industrial inputs.

• Policy Impact: Trade policies are aligned with U.S. regulations, impacting tariffs and trade agreements, which are crucial for the islands' economic operations.

Economic Conditions

• Consumer Spending: Local spending is robust, supported by a strong tourism sector and steady employment in textiles and garment manufacturing.

• Inflation & Interest Rates: Inflation remains moderate, influenced by global oil prices and supply chain dynamics, while interest rates follow U.S. Federal Reserve trends.

• Supply Chain Resilience: Efforts to diversify supply chains and reduce dependency on single suppliers have improved resilience, although vulnerabilities persist.

• Industry Performance: The garment and tourism industries are key contributors to the economy, with growing interest in developing the technology and renewable energy sectors.

Overall Outlook

The Northern Mariana Islands' economy shows resilience and adaptability, with a focus on diversification that promises sustainable growth. Challenges in trade and economic stability are being addressed through strategic policy and investment in emerging sectors.