Download Gross Domestic Product, 2010

NEWS RELEASE
EMBARGOED UNTIL RELEASE AT 7:00 PM EDT, MONDAY, SEPTEMBER 17, 2012
Aya Hamano:
Wali Osman:
(202) 606-9683 (BEA)
(202) 208-4292 (OIA)
BEA 12-39
THE BUREAU OF ECONOMIC ANALYSIS (BEA) RELEASES ESTIMATES OF GROSS
DOMESTIC PRODUCT, GROSS DOMESTIC PRODUCT BY INDUSTRY, COMPENSATION BY
INDUSTRY, AND DETAILED CONSUMER SPENDING FOR THE
COMMONWEALTH OF THE NORTHERN MARIANA ISLANDS
CAPITOL HILL, SAIPAN (September 18, 2012) -- Today, the Bureau of Economic Analysis (BEA) is
releasing estimates of gross domestic product (GDP) for the Commonwealth of the Northern Mariana
Islands (CNMI) for 2010 and revised estimates for 2002 to 2009.1 In this release, BEA – for the first time –
also includes estimates of GDP by industry, compensation by industry, and detailed consumer spending.
These estimates were developed under the Statistical Improvement Program funded by the Office of Insular
Affairs (OIA) of the U.S. Department of the Interior.
Gross Domestic Product for 2010
After declining for six consecutive years, largely due to declines in the garment manufacturing industry, the
CNMI’s economy grew in 2010 (see Table 1.3). The estimates for the CNMI show that real GDP – GDP
adjusted to remove price changes – increased 2.3 percent. For comparison, real GDP for the U.S.
(excluding the territories) increased 2.4 percent in 2010. In addition, per capita real GDP for the CNMI
increased in 2010, reflecting the growth in real GDP and a continued decline in the population (see Table
1.2).
The growth of the economy in 2010 largely reflected increases in territorial government spending, in
consumer spending, and in exports of goods and services (see Table 1.4).2 Economic growth was tempered
by an increase in imports.3
Exports increased for the first time after five consecutive years of decline. Tourism services (which make
up the majority of exports of services) increased due to an increase in the number of visitors to the islands,
offsetting continued declines in exports of goods.
More detailed estimates of consumer spending are being released for the first time today and show that, in
2010, spending on both goods and services contributed to the increase in overall consumer spending for the
year. Net foreign travel, calculated as spending by CNMI residents abroad less spending by nonresidents in
the CNMI, contributed negatively to growth in consumer spending as spending by visitors to the CNMI
outpaced that of CNMI residents traveling abroad.
1
These estimates are based on limited source data and are subject to revision.
In this news release, “consumer spending” refers to “personal consumption expenditures” and “government spending” refers to
“government consumption expenditures and gross investment.”
3
Imports are a subtraction in the calculation of GDP.
2
- more -
- 2Gross Domestic Product by Industry and Compensation by Industry
The new estimates of gross domestic product by industry (GDP by industry) provide additional information
on economic growth and complement the aggregate GDP estimates that have been published since 2010.
While the GDP estimates show how much the entire economy has grown (or contracted), the GDP by
industry estimates show how major industries have contributed to that growth.
For the CNMI, the GDP by industry estimates show that the distributive services sector (including retail and
wholesale trade) and the territorial government were the largest contributors to overall GDP growth in 2010
(see Table 2.5). Meanwhile, the manufacturing sector continued to contribute negatively to economic
growth. The significant declines in manufacturing from 2005 to 2009 reflected the decline of the garment
manufacturing industry.
The compensation by industry estimates show trends in compensation for major industries (see Table 2.6).
Total compensation grew in 2010, reflecting increases in both private and government compensation.
However, compensation for the manufacturing sector continued to decline, falling each year from 2005 to
2010.
The accompanying tables present estimates for GDP and its major components, GDP by industry, and
compensation by industry. Also included in this release are estimates for the major components of gross
domestic income.
Revisions
Estimates of GDP for 2002 to 2009 that were released on July 13, 2011 have been revised in order to
incorporate improvements to source data and estimation methodologies. Major improvements are:
 Improved methodologies for estimating consumer spending on goods and services;
 The incorporation of newly available data from the U.S. Census Bureau, including:
o Population and housing information from the 2010 Census of Population and Housing, and
o Wage and salary data for 2008, 2009, and 2010 from County Business Patterns;
 The incorporation of newly available source data for territorial government spending from government
financial statements for fiscal year 2010.
The pattern of growth in the revised estimates is similar to that of the previously published estimates (see
Table 1.7). In both the revised and the published estimates, real GDP decreased in all years except 2003.
Future directions
Moving forward, an agreement between OIA and BEA will extend and improve the estimates of GDP for
the CNMI. The information provided by the CNMI Government will continue to be critical to the
successful production of these estimates.
BEA currently plans to release estimates for 2011 in the spring of 2013.
BEA’s national, international, regional, and industry statistics; the Survey of Current
Business; and BEA news releases are available without charge on BEA’s Web site at
www.bea.gov. By visiting the site, you can also subscribe to receive free e-mail
summaries of BEA releases and announcements.
- more -
Commonwealth of the Northern Mariana Islands
1. Domestic Product and Income
Table 1.1. Gross Domestic Product
[Millions of dollars]
Line
Gross domestic product
2002
2003
2004
2005
2006
2007
2008
2009
2010
1
1,221
1,177
1,151
1,001
918
867
851
725
733
Personal consumption expenditures
Goods
Durable goods
Nondurable goods
Services
Net foreign travel
2
3
4
5
6
7
537
331
120
211
428
-221
539
342
123
219
409
-212
551
396
146
250
433
-278
520
337
128
209
418
-235
559
370
141
229
398
-209
560
357
135
222
389
-186
590
387
138
249
401
-199
516
342
118
224
362
-188
531
370
133
236
377
-215
Private fixed investment
8
24
24
42
41
35
24
27
27
26
Net exports of goods and services
Exports
Goods
Services
Imports
Goods
Services
10
11
12
13
14
15
16
293
1,077
848
229
784
675
109
255
1,030
810
220
775
667
108
190
1,128
842
286
938
808
130
67
910
668
242
844
727
117
-40
729
514
215
769
663
106
-69
526
333
192
595
512
83
-109
376
172
205
485
417
69
-164
218
23
195
382
327
55
-194
242
20
222
436
379
57
Government consumption
expenditures and gross investment
Federal
Territorial
17
18
19
367
14
353
358
16
342
369
13
355
374
17
357
364
14
350
352
13
339
343
16
327
346
21
325
370
22
349
NOTE. Detail may not add to total because of rounding.
Commonwealth of the Northern Mariana Islands
Table 1.2. Real Gross Domestic Product, Chained Dollars
[Millions of chained (2005) dollars]
Line
Gross domestic product
2002
2003
2004
2005
2006
2007
2008
2009
2010
1
1,188
1,193
1,161
1,001
920
849
744
605
619
Personal consumption expenditures
Goods
Durable goods
Nondurable goods
Services
Net foreign travel
2
3
4
5
6
7
580
370
136
234
432
-225
595
379
133
246
432
-219
585
421
158
263
446
-281
520
337
128
209
418
-235
525
358
139
219
374
-206
506
338
132
206
349
-180
499
343
130
213
342
-184
433
294
107
187
304
-164
444
313
117
196
306
-175
Private fixed investment
8
25
25
43
41
34
23
26
26
25
Net exports of goods and services
Exports
Goods
Services
Imports
Goods
Services
9
10
11
12
13
14
15
188
1,086
853
232
898
790
110
177
1,039
812
226
862
752
110
146
1,131
842
289
984
854
131
67
910
668
242
844
727
117
-9
725
513
212
734
636
99
-26
516
330
186
543
471
72
-98
294
116
190
392
337
56
-163
176
19
170
339
295
44
-174
183
17
180
357
315
43
Government consumption
expenditures and gross investment
Federal
Territorial
16
17
18
398
17
381
404
18
386
385
14
371
374
17
357
368
14
355
335
12
324
314
14
300
312
19
293
328
19
309
Addenda:
Population (thousands)1
Per capita real GDP (chained dollars)
19
20
1. Source: U.S. Census Bureau
74.4
76.6
78.9
70.6
60.7
59.3
57.6
55.5
53.9
15,968 15,574 14,715 14,178 15,157 14,317 12,917 10,901 11,484
Commonwealth of the Northern Mariana Islands
Table 1.3. Percent Change From Preceding Year in Real Gross Domestic Product
[Percent]
Line
Gross domestic product
2003
2004
2005
2006
2007
2008
2009
2010
1
0.4
-2.7
-13.8
-8.0
-7.7
-12.3
-18.8
2.3
Personal consumption expenditures
Goods
Durable goods
Nondurable goods
Services
Net foreign travel
2
3
4
5
6
7
2.6
2.3
-2.0
4.8
0.0
……..
-1.8
11.1
18.5
7.0
3.1
……..
-11.1
-19.9
-18.9
-20.5
-6.3
……..
1.0
6.2
8.8
4.6
-10.6
……..
-3.7
-5.6
-4.9
-6.0
-6.5
……..
-1.2
1.6
-1.8
3.6
-2.0
……..
-13.3
-14.2
-17.6
-12.4
-11.1
……..
2.4
6.3
9.1
4.8
0.8
……..
Private fixed investment
8
-0.2
70.4
-5.5
-15.7
-31.7
9.3
2.3
-4.0
Net exports of goods and services
Exports
Goods
Services
Imports
Goods
Services
9
10
11
12
13
14
15
……..
-4.3
-4.8
-2.6
-4.0
-4.7
0.1
……..
8.8
3.7
27.8
14.2
13.4
19.0
……..
-19.5
-20.6
-16.3
-14.3
-14.8
-11.0
……..
-20.4
-23.2
-12.6
-13.0
-12.6
-15.3
……..
-28.8
-35.8
-12.2
-26.1
-25.9
-27.2
……..
-43.1
-64.8
2.4
-27.7
-28.6
-22.5
……..
-40.1
-83.4
-10.6
-13.6
-12.3
-21.3
……..
4.0
-12.8
5.9
5.4
6.6
-2.1
Government consumption
expenditures and gross investment
Federal
Territorial
16
17
18
1.5
10.0
1.1
-4.8
-23.2
-3.9
-2.8
17.4
-3.6
-1.4
-18.7
-0.6
-9.0
-11.9
-8.8
-6.4
19.6
-7.4
-0.5
31.3
-2.0
5.0
-0.4
5.4
Commonwealth of the Northern Mariana Islands
Table 1.4. Contributions to Percent Change in Real Gross Domestic Product
Line
2003
2004
2005
2006
2007
2008
2009
2010
Percent change:
Gross domestic product
Percentage points:
Personal consumption expenditures
Goods
Durable goods
Nondurable goods
Services
Net foreign travel
1
0.4
-2.7
-13.8
-8.0
-7.7
-12.3
-18.8
2.3
2
3
4
5
6
7
1.17
0.64
-0.21
0.85
0.01
0.52
-0.82
3.28
1.93
1.35
1.10
-5.20
-5.46
-7.03
-2.49
-4.54
-2.40
3.97
0.54
2.13
1.14
0.99
-4.56
2.98
-2.28
-2.25
-0.75
-1.50
-2.86
2.84
-0.74
0.63
-0.26
0.90
-0.86
-0.52
-9.22
-6.56
-2.90
-3.65
-5.27
2.61
1.74
3.02
1.51
1.51
0.40
-1.69
Private fixed investment
8
0.00
1.46
-0.20
-0.65
-1.21
0.24
0.07
-0.15
Net exports of goods and services
Exports
Goods
Services
Imports
Goods
Services
9
10
11
12
13
14
15
-1.21
-3.90
-3.41
-0.50
2.70
2.71
-0.01
-1.85
7.74
2.51
5.22
-9.59
-7.85
-1.74
-7.19
-19.04
-14.99
-4.05
11.85
10.61
1.24
-7.39
-18.58
-15.50
-3.08
11.19
9.34
1.85
-0.63
-22.75
-19.90
-2.85
22.12
18.89
3.24
-9.38
-27.98
-28.47
0.49
18.60
16.54
2.06
-9.42
-16.81
-14.18
-2.63
7.39
5.67
1.73
-1.72
1.25
-0.41
1.66
-2.97
-3.14
0.16
Government consumption
expenditures and gross investment
Federal
Territorial
16
17
18
0.45
0.12
0.32
-1.51
-0.33
-1.17
-0.93
0.21
-1.13
-0.54
-0.32
-0.22
-3.63
-0.19
-3.44
-2.46
0.28
-2.73
-0.19
0.59
-0.78
2.43
-0.01
2.45
Commonwealth of the Northern Mariana Islands
Table 1.5. Percent Change From Preceding Year in Prices for Gross Domestic Product
and Price Indexes for Gross Domestic Product
Line
Gross domestic product
Personal consumption expenditures
Gross domestic product
Personal consumption expenditures
2002
2003
1
……..
-4.0
2
……..
-2.3
3
102.8
4
92.7
2004
0.6
2005
0.8
2006
2007
[Percent]
-0.3
2009
2010
12.0
4.9
-1.1
0.9
0.5
98.6
4.0
6.1
6.4
4.0
6.7
[Index numbers, 2005=100]
99.2 100.0
99.7 102.1 114.3
119.9
118.5
90.6
94.2
119.1
119.7
100.0
106.4
2.4
2008
110.7
118.1
Table 1.6. Gross Domestic Income
[Millions of dollars]
Line
2002
2003
2004
2005
2006
2007
2008
2009
2010
Gross domestic income
1
1,221
1,177
1,151
1,001
918
867
851
725
733
Compensation of employees
2
699
702
752
659
598
569
518
514
533
Taxes on production and imports
less subsidies
3
126
149
164
161
140
118
107
98
91
Gross operating surplus
4
396
326
235
181
181
181
226
113
109
NOTE. Detail may not add to total because of rounding.
Table 1.7. Revisions to Percent Change in Real Gross Domestic Product
Line
2003
2004
2005
2006
2007
2008
2009
Percent change:
Revised
Previously published
1
2
0.4
1.2
-2.7
-3.6
-13.8
-14.3
-8.0
-6.5
-7.7
-7.7
-12.3
-12.1
-18.8
-19.8
Percentage points:
Revision
3
-0.8
0.9
0.5
-1.5
0.0
-0.2
1.0
Commonwealth of the Northern Mariana Islands
2. GDP by Industry
Table 2.1. Value Added by Industry
[Millions of dollars]
Line
2002
2003
2004
2005
2006
2007
2008
2009
2010
Gross domestic product
1
1,221
1,177
1,151
1,001
918
867
851
725
733
Private industries
Manufacturing
Distributive Services
Accommodations and Amusement
All Other
2
3
4
5
6
976
408
169
115
284
923
399
164
102
258
898
390
142
97
268
748
353
100
71
223
682
247
104
89
242
626
176
120
73
257
622
66
104
116
337
498
25
89
110
274
493
24
93
109
268
Government
Federal
Territorial
7
8
9
246
5
240
253
9
244
253
11
243
253
14
240
235
13
223
241
13
228
229
15
214
228
16
211
239
15
224
NOTE. Detail may not add to total because of rounding.
Table 2.2. Value Added by Industry as a Percentage of GDP
[Percent]
Line
2002
2003
2004
2005
2006
2007
2008
2009
2010
Gross domestic product
1
100
100
100
100
100
100
100
100
100
Private industries
Manufacturing
Distributive Services
Accommodations and Amusement
All Other
2
3
4
5
6
80
33
14
9
23
78
34
14
9
22
78
34
12
8
23
75
35
10
7
22
74
27
11
10
26
72
20
14
8
30
73
8
12
14
40
69
3
12
15
38
67
3
13
15
37
Government
Federal
Territorial
7
8
9
20
0
20
21
1
21
22
1
21
25
1
24
26
1
24
28
1
26
27
2
25
31
2
29
33
2
31
Commonwealth of the Northern Mariana Islands
Table 2.3. Real Value Added by Industry
[Millions of chained (2005) dollars]
Line
2002
2003
2004
2005
2006
2007
2008
2009
2010
Gross domestic product
1
1,188
1,193
1,161
1,001
920
849
744
605
619
Private industries
Manufacturing
Distributive Services
Accommodations and Amusement
All Other
2
3
4
5
6
918
348
175
114
288
906
365
172
104
267
896
378
147
100
273
748
353
100
71
223
677
253
102
85
236
617
183
116
68
246
529
35
101
107
319
402
26
77
92
233
410
25
86
95
230
Government
Federal
Territorial
7
8
9
262
7
255
290
10
279
263
11
252
253
14
240
245
12
232
233
11
222
213
13
200
207
14
192
213
12
200
Table 2.4. Percent Changes in Real Value Added by Industry
[Percent]
Line
2003
2004
2005
2006
2007
2008
2009
2010
Gross domestic product
1
0.4
-2.7
-13.8
-8.0
-7.7
-12.3
-18.8
2.3
Private industries
Manufacturing
Distributive Services
Accommodations and Amusement
All Other
2
3
4
5
6
-1.4
5.1
-1.9
-8.8
-7.2
-1.0
3.4
-14.6
-4.2
2.1
-16.6
-6.5
-31.8
-28.7
-18.3
-9.4
-28.5
1.9
18.9
6.0
-8.9
-27.6
13.7
-19.2
4.0
-14.2
-81.1
-13.3
56.4
29.9
-24.0
-24.6
-23.1
-14.4
-27.1
1.9
-2.9
11.3
3.5
-1.2
Government
Federal
Territorial
7
8
9
10.7
56.5
9.6
-9.2
11.8
-10.0
-3.8
18.6
-4.8
-3.4
-10.2
-3.0
-4.7
-6.1
-4.6
-8.6
12.1
-9.7
-3.1
10.1
-4.0
2.9
-12.2
4.1
Commonwealth of the Northern Mariana Islands
Table 2.5. Contributions to Percent Change in Real Gross Domestic Product by Industry
Line
2003
Percent change:
Gross domestic product
Percentage points:
Private industries
Manufacturing
Distributive Services
Accommodations and Amusement
All Other
1
0.4
2
3
4
5
6
-1.12
1.67
-0.26
-0.84
-1.69
Government
Federal
Territorial
7
8
9
2.13
0.27
1.87
2004
-2.7
2005
2006
-13.8
-8.0
-0.80 -12.88
1.13 -2.17
-2.03 -3.97
-0.36 -2.45
0.47 -4.29
-2.08
0.09
-2.17
-0.84
0.18
-1.02
2007
-7.7
2008
-12.3
2009
2010
-18.8
2.3
-7.06
-9.98
0.19
1.38
1.36
-6.54 -10.64 -17.58
-7.28 -21.50 -1.52
1.55 -1.67 -2.91
-1.86
4.39 -2.02
1.06
8.15 -11.13
1.33
-0.10
1.35
0.52
-0.45
-0.84
-0.14
-0.69
-1.23
-0.09
-1.14
0.94
-0.28
1.22
-2.21
0.16
-2.37
-0.83
0.17
-1.00
NOTE. Percentage-point contributions do not sum to the percent change in real gross domestic product because of
rounding and differences in source data used to estimate GDP by industry and the expenditures measure of real GDP.
Table 2.6. Compensation of Employees by Industry
[Millions of dollars]
Line
2002
2003
2004
2005
2006
2007
2008
2009
2010
1
699
702
752
659
598
569
518
514
533
Private industries
Manufacturing
Distributive Services
Accommodations and Amusement
All Other
2
3
4
5
6
473
225
48
70
129
473
224
52
69
128
517
255
53
71
138
418
203
45
54
117
375
145
50
66
114
353
91
66
60
136
303
30
59
77
137
300
10
60
89
141
310
9
63
90
147
Government
Federal
Territorial
7
8
9
226
6
220
229
9
220
235
11
224
240
14
226
222
13
209
216
13
203
215
15
200
214
17
197
223
15
208
Total compensation
NOTE. Detail may not add to total because of rounding.