Economy - overview:
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 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; 122,000 tourists visited the islands in 2007. In late September 2009, an earthquake and the resulting tsunami severely damaged Samoa, and nearby American Samoa, disrupting transportation and power generation, and resulting in about 200 deaths. 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): GDP (official exchange rate): GDP - real growth rate: GDP - per capita (PPP): GDP - composition by sector: Labor force: Labor force - by occupation: Unemployment rate: Population below poverty line: Household income or consumption by percentage share: Budget: Inflation rate (consumer prices): Commercial bank prime lending rate: Stock of narrow money: Stock of broad money: Stock of domestic credit: Market value of publicly traded shares: Agriculture - products: Industries: Industrial production growth rate: Electricity - production: Electricity - consumption: Electricity - exports: Electricity - imports: Oil - production: Oil - consumption: Oil - exports: Oil - imports: Oil - proved reserves: Natural gas - production: Natural gas - consumption: Natural gas - exports: Natural gas - imports: Natural gas - proved reserves: Current account balance: Exports: Exports - commodities: Exports - partners: Imports: Imports - commodities: Imports - partners: Reserves of foreign exchange and gold: Debt - external: Exchange rates:
NOTE: The information regarding Samoa on this page is re-published from the 2011 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Samoa Economy 2011 information contained here. All suggestions for corrections of any errors about Samoa Economy 2011 should be addressed to the CIA.
$1.002 billion (2010 est.)
country comparison to the world: 201
note:
data are in 2010 US dollars
[see also: GDP (purchasing power parity) country ranks ]
$550 million (2009 est.)
[see also: GDP (official exchange rate) country ranks ]
-2% (2010 est.)
country comparison to the world: 207
[see also: GDP - real growth rate country ranks ]
$5,200 (2010 est.)
country comparison to the world: 144
note:
data are in 2010 US dollars
[see also: GDP - per capita country ranks ]
agriculture: 11.6%
[see also: GDP - composition by sector - agriculture country ranks ]
industry:
13.1%
[see also: GDP - composition by sector - industry country ranks ]
services:
75.3% (2004 est.)
[see also: GDP - composition by sector - services country ranks ]
66,270 (2007 est.)
country comparison to the world: 185
[see also: Labor force country ranks ]
agriculture: NA%
[see also: Labor force - by occupation - agriculture country ranks ]
industry:
NA%
[see also: Labor force - by occupation - industry country ranks ]
services:
NA%
[see also: Labor force - by occupation - services country ranks ]
NA%
[see also: Unemployment rate country ranks ]
NA%
[see also: Population below poverty line country ranks ]
lowest 10%: NA%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%:
NA%
[see also: Household income or consumption by percentage share - highest 10% country ranks ]
revenues: $171.3 million
[see also: Budget - revenues country ranks ]
expenditures:
$78.1 million
[see also: Budget - expenditures country ranks ]
6% (2007 est.)
country comparison to the world: 163
[see also: Inflation rate (consumer prices) country ranks ]
12.08% (31 December 2009 est.)
country comparison to the world: 65
[see also: Commercial bank prime lending rate country ranks ]
$80.56 million (31 December 2009)
[see also: Stock of narrow money country ranks ]
$283.2 million (31 December 2009)
[see also: Stock of broad money country ranks ]
$243 million (31 December 2009)
country comparison to the world: 173
[see also: Stock of domestic credit country ranks ]
$NA
[see also: Market value of publicly traded shares country ranks ]
coconuts, bananas, taro, yams, coffee, cocoa
food processing, building materials, auto parts
2.8% (2000)
country comparison to the world: 115
[see also: Industrial production growth rate country ranks ]
109 million kWh (2007 est.)
country comparison to the world: 190
[see also: Electricity - production country ranks ]
101.4 million kWh (2007 est.)
country comparison to the world: 191
[see also: Electricity - consumption country ranks ]
0 kWh (2008 est.)
[see also: Electricity - exports country ranks ]
0 kWh (2008 est.)
[see also: Electricity - imports country ranks ]
0 bbl/day (2009 est.)
country comparison to the world: 134
[see also: Oil - production country ranks ]
1,000 bbl/day (2009 est.)
country comparison to the world: 195
[see also: Oil - consumption country ranks ]
0 bbl/day (2007 est.)
country comparison to the world: 178
[see also: Oil - exports country ranks ]
1,105 bbl/day (2007 est.)
country comparison to the world: 188
[see also: Oil - imports country ranks ]
0 bbl (1 January 2010 est.)
country comparison to the world: 127
[see also: Oil - proved reserves country ranks ]
0 cu m (2008 est.)
country comparison to the world: 134
[see also: Natural gas - production country ranks ]
0 cu m (2008 est.)
country comparison to the world: 154
[see also: Natural gas - consumption country ranks ]
0 cu m (2008 est.)
country comparison to the world: 132
[see also: Natural gas - exports country ranks ]
0 cu m (2008 est.)
country comparison to the world: 137
[see also: Natural gas - imports country ranks ]
0 cu m (1 January 2010 est.)
country comparison to the world: 138
[see also: Natural gas - proved reserves country ranks ]
-$24 million (2007 est.)
country comparison to the world: 66
[see also: Current account balance country ranks ]
$131 million (2006)
country comparison to the world: 187
[see also: Exports country ranks ]
fish, coconut oil and cream, copra, taro, automotive parts, garments, beer
American Samoa 41.12%, Australia 24.74%, Taiwan 6.24%, China 5.61%, US 4.07% (2009)
$324 million (2006)
country comparison to the world: 194
[see also: Imports country ranks ]
machinery and equipment, industrial supplies, foodstuffs
NZ 24.13%, Fiji 17.34%, Singapore 12.54%, China 10.02%, Australia 9.85%, US 5.95% (2009)
$70.15 million (FY03/04)
country comparison to the world: 130
[see also: Reserves of foreign exchange and gold country ranks ]
$177 million (2004)
country comparison to the world: 176
[see also: Debt - external country ranks ]
tala (SAT) per US dollar - NA (2007), 2.7594 (2006), 2.7103 (2005), 2.7807 (2004), 2.9732 (2003)
This page was last modified 09-Feb-11