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American Samoa Economy 1996

Overview:

Economic activity is strongly linked to the US, with which American Samoa conducts 80%-90% of its foreign trade. Tuna fishing and tuna processing plants are the backbone of the private sector, with canned tuna the primary export. The tuna canneries and the government are by far the two largest employers. Other economic activities include a slowly developing tourist industry. Transfers from the US Government add substantially to American Samoa's economic well-being.

National product:

GDP - purchasing power parity - $128 million (1991 est.)

National product real growth rate:

NA%

National product per capita:

$2,600 (1991)

Inflation rate (consumer prices):

7% (1990)

Unemployment rate:

12% (1991)

Budget:

revenues:

$97 million (includes $43,000,000 in local revenue and $54,000,000 in grant revenue);

expenditures:

$NA, including capital expenditures of $NA (FY90/91)

Exports:

$306 million (f.o.b., 1989)

commodities:

canned tuna 93%

partners:

US 99.6%

Imports:

$360.3 million (c.i.f., 1989)

commodities:

materials for canneries 56%, food 8%, petroleum products 7%, machinery and parts 6%

partners:

US 62%, Japan 9%, NZ 7%, Australia 11%, Fiji 4%, other 7%

External debt:

$NA

Industrial production:

growth rate NA%

Electricity:

capacity:

30,000 kW

production:

90 million kWh

consumption per capita:

1,505 kWh (1993)

Industries:

tuna canneries (largely dependent on foreign fishing vessels), meat canning, handicrafts

Agriculture:

bananas, coconuts, vegetables, taro, breadfruit, yams, copra, pineapples, papayas, dairy farming

Economic aid:

recipient:

$21,042,650 in operational funds and $1,227,000 in construction funds for capital improvement projects from the US Department of Interior (1991)

Currency:

1 United States dollar = 100 cents

Exchange rates:

US currency is used

Fiscal year:

1 October - 30 September

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