| People | Samoa |
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Economy - overview:
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The economy of Samoa has traditionally been dependent on development aid, family remittances from overseas, 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 fish catch declined during the El Nino of 2002-03 but returned to normal by mid-2005. The manufacturing sector mainly processes agricultural products. One factory in the Foreign Trade Zone employs 3,000 people to make automobile electrical harnesses for an assembly plant in Australia. Tourism is an expanding sector, accounting for 25% of GDP; about 100,000 tourists visited the islands in 2005. The Samoan Government has called for deregulation of the financial sector, encouragement of investment, and continued fiscal discipline, while at the same time 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):
|
$1.218 billion (2006 est.) |
GDP (official exchange rate):
|
$387 million (2007 est.) |
GDP - real growth rate:
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5.5% (2005 est.) |
GDP - per capita (PPP):
|
$2,100 (2005 est.) |
GDP - composition by sector:
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agriculture: 11.4%
industry: 58.4%
services: 30.2% (2004 est.) |
Investment (gross fixed):
|
void |
Population below poverty line:
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NA% |
Household income or consumption by percentage share:
|
lowest 10%: NA%
highest 10%: NA% |
Distribution of family income - Gini index:
|
void |
Inflation rate (consumer prices):
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3.3% (2005) |
Labor force:
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90,000 (2000 est.) |
Labor force participation rate:
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41.46 % of population |
Labor force - by occupation:
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agriculture: NA%
industry: NA%
services: NA% |
Unemployment rate:
|
NA% |
Budget:
|
revenues: $171.3 million
expenditures: $78.1 million (FY04/05 est.) |
Budget revenues per capita:
|
790 USD per capita |
Public debt:
|
void |
Industries:
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food processing, building materials, auto parts |
Industrial production growth rate:
|
2.8% (2000) |
Electricity - production:
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105 million kWh (2005) |
Electricity - production per capita:
|
484 kWh per capita |
Electricity - consumption:
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97.65 million kWh (2005) |
Electricity - consumption - per capita:
|
450 kWh per capita |
Electricity - exports:
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0 kWh (2005) |
Electricity - imports:
|
0 kWh (2005) |
Oil - production:
|
0 bbl/day (2005 est.) |
Oil - production per capita:
|
void |
Oil - consumption:
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1,100 bbl/day (2005 est.) |
Oil - consumption - per capita:
|
1.85 bbl/year per capita |
Oil - exports:
|
0 bbl/day (2004) |
Oil - imports:
|
1,060 bbl/day (2004) |
Oil - proved reserves:
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0 bbl (1 January 2006 est.) |
Natural gas - production:
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0 cu m (2005 est.) |
Natural gas - production per capita:
|
void |
Natural gas - consumption:
|
0 cu m (2005 est.) |
Natural gas - consumption - per capita:
|
void |
Natural gas - exports:
|
0 cu m (2005 est.) |
Natural gas - imports:
|
0 cu m (2005) |
Natural gas - proved reserves:
|
0 cu m (1 January 2006 est.) |
Agriculture - products:
|
coconuts, bananas, taro, yams, coffee, cocoa |
Current account balance:
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-$2.428 million (FY03/04) |
Current account balance - per capita:
|
-11 USD per capita |
Exports:
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$131 million f.o.b. (2006) |
Exports per capita:
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604 USD per capita |
Exports - commodities:
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fish, coconut oil and cream, copra, taro, automotive parts, garments, beer |
Exports - partners:
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Australia 44.1%, American Samoa 29.9%, Taiwan 11.3% (2006) |
Imports:
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$324 million f.o.b. (2006) |
Imports per capita:
|
1,493 USD per capita |
Imports - commodities:
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machinery and equipment, industrial supplies, foodstuffs |
Imports - partners:
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NZ 21.5%, Fiji 14.8%, Singapore 13.2%, Australia 8.6%, Japan 8.6%, US 6.2%, Indonesia 5%, China 4.4% (2006) |
Reserves of foreign exchange and gold:
|
$70.15 million (FY03/04) |
Reserves of foreign exchange and gold - per capita:
|
324 USD per capita |
Debt - external:
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$177 million (2004) |
Debt - external - per capita:
|
816 USD per capita |
Stock of direct foreign investment - at home:
|
void |
Stock of direct foreign investment - abroad:
|
void |
Market value of publicly traded shares:
|
$NA |
Economic aid - donor:
|
void |
Economic aid - recipient:
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$43.95 million (2005) |
Economic aid - recipient per capita:
|
203 USD per capita |
Currency (code):
|
tala (SAT) |
Exchange rates:
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tala per US dollar - NA (2007), 2.7594 (2006), 2.7103 (2005), 2.7807 (2004), 2.9732 (2003) |
Fiscal year:
|
June 1 - May 31 |
|
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