Economy Of Samoa
|
Economy overview
|
The economy of Samoa has traditionally been dependent on development aid, family remittances from overseas, and agriculture and fishing. The country is vulnerable to devastating storms. Agriculture employs two-thirds of the labor force, and furnishes 90% of exports, featuring coconut cream, coconut oil, and copra. The manufacturing sector mainly processes agricultural products. The decline of fish stocks in the area is a continuing problem. Tourism is an expanding sector, accounting for 25% of GDP; about 88,000 tourists visited the islands in 2001. The Samoan Government has called for deregulation of the financial sector, encouragement of investment, and continued fiscal discipline, meantime protecting the environment. Observers point to the flexibility of the labor market as a basic strength for future economic advances. Foreign reserves are in a relatively healthy state, the external debt is stable, and inflation is low.
|
|
GDP
|
purchasing power parity - $1 billion (2002 est.)
|
|
GDP - real growth rate
|
5% (2002 est.)
|
|
GDP - per capita
|
purchasing power parity - $5,600 (2002 est.)
|
|
GDP - composition by sector
|
agriculture: 14%
industry: 23%
services: 63% (2001 est.)
|
|
Investment gross fixed
|
|
|
Population below poverty line
|
NA
|
|
Household income or consumption by percentage share
|
lowest 10%: NA
highest 10%: NA
|
|
Distribution of family income - Gini index
|
|
|
Inflation rate consumer prices
|
4% (2001 est.)
|
|
Labor force
|
90,000 (2000 est.)
|
|
Labor force by occupation
|
NA
|
|
Unemployment rate
|
NA%; note - substantial underemployment
|
|
Budget
|
revenues: $105 million
expenditures: $119 million, including capital expenditures of NA (2001-02)
|
|
Public debt
|
|
|
Agriculture products
|
coconuts, bananas, taro, yams, coffee, cocoa
|
|
Industries
|
food processing, building materials, auto parts
|
|
Industrial production growth rate
|
2.8% (2000)
|
|
Electricity production
|
105.1 million kWh (2001)
|
|
Electricity production by source
|
fossil fuel: 58%
hydro: 42%
other: 0% (2001)
nuclear: 0%
|
|
Electricity consumption
|
97.74 million kWh (2001)
|
|
Electricity exports
|
0 kWh (2001)
|
|
Electricity imports
|
0 kWh (2001)
|
|
Oil production
|
0 bbl/day (2001 est.)
|
|
Oil consumption
|
1,000 bbl/day (2001 est.)
|
|
Oil exports
|
NA (2001)
|
|
Oil imports
|
NA (2001)
|
|
Oil proved reserves
|
|
|
Natural gas production
|
|
|
Natural gas consumption
|
|
|
Natural gas exports
|
|
|
Natural gas imports
|
|
|
Natural gas proved reserves
|
|
|
Current account balance
|
|
|
Exports
|
$14 million f.o.b. (2002)
|
|
Exports commodities
|
fish, coconut oil and cream, copra, taro, automotive parts, garments, beer
|
|
Exports partners
|
Australia 63.6%, Indonesia 15.2%, US 5.1% (2003)
|
|
Imports
|
$113 million f.o.b. (2002)
|
|
Imports commodities
|
machinery and equipment, industrial supplies, foodstuffs
|
|
Imports partners
|
New Zealand 19.8%, Fiji 17.8%, Australia 15.4%, Japan 11.9%, US 4.7%, Singapore 4.3% (2003)
|
|
Reserves of foreign exchange gold
|
|
|
Debt external
|
$197 million (2000)
|
|
Economic aid recipient
|
$42.9 million (1995)
|
|
Currency
|
tala (SAT)
|
|
Currency code
|
SAT (former WST code is still in wide use)
|
|
Exchange rates
|
tala per US dollar - 2.9732 (2003), 3.3763 (2002), 3.478 (2001), 3.2864 (2000), 3.0132 (1999)
|
|
Fiscal year
|
June 1 - May 31
|
Applied Language Solutions offer English to Samoan Translation , English Translation .
This information was reproduced in part from the CIA World Fact book.
Flags
If you would like to use this flag of Samoa or any other on your website you are welcome to do so, all we ask is that you include a link back to our site on the same page. Please click here for information.
Map
If you would like to use this map of Samoa or any other on your website you are welcome to do so, all we ask is that you include a link back to our site on the same page. Please click here for information.
Country Information
If you would like to use this information for Samoa or any other on your website you are welcome to do so, all we ask is that you include a link back to our site on the same page. Please click here for information.