WHOLESALE trade topped the list of CNMI economic sectors in 2022, according to the U.S. Census Bureau’s 2022 Economic Census of Island Areas.
The economic census provided comprehensive data on sales and other measures of employer business output for every sector of the local economy.
The 2022 economic census showed that the top two economic sectors were wholesale trade, which earned $349.8 million, followed by retail trade, which generated $340.5 million. Healthcare and social assistance earned the third highest revenue of $199.9 million; the construction sector was fourth with $153.8 million; and fifth was accommodation and food services, $137.7 million.
Based on the number of employees, the top five sectors were accommodation and food services with 2,319 employees; retail and trade, 2,068 employees; healthcare and social assistance, 1,658 employees; administrative and support, waste management and remediation services, 1,246 employees; and the construction sector, 1,176 employees.
The economic census does not include a more detailed summary or a comparison of 2022 data with those of previous years.
In his e-newsletter on Friday, U.S. Congressman Gregorio Kilili Camacho Sablan said the economic census is the most comprehensive measure of the economy, covering everything from sales data to employer business output.
He said the Commonwealth’s Economic Census has been taken at five-year intervals since 1982 with the last enumeration performed in 2017 before the Covid-19 pandemic.
He added that gathering extensive data on the economy is critical for effective policymaking and development.
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