Samoa Economy - 2023

Economic overview

ower middle-income Pacific island economy; enormous fishing and agriculture industries; significant remittances; growing offshore financial hub; recently hosted Pacific Games to drive tourism and infrastructure growth

Real GDP (purchasing power parity)

$1.211 billion (2021 est.)

$1.303 billion (2020 est.)

$1.345 billion (2019 est.)

note: data are in 2017 dollars

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Real GDP growth rate

-7.08% (2021 est.)

-3.11% (2020 est.)

4.45% (2019 est.)

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Real GDP per capita

$5,500 (2021 est.)

$6,100 (2020 est.)

$6,300 (2019 est.)

note: data are in 2017 dollars

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GDP (official exchange rate)

$841 million (2017 est.)

Inflation rate (consumer prices)

3.13% (2021 est.)

-1.57% (2020 est.)

0.98% (2019 est.)

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GDP - composition, by sector of origin

agriculture: 10.4% (2017 est.)

industry: 23.6% (2017 est.)

services: 66% (2017 est.)

GDP - composition, by end use

household consumption: NA

government consumption: NA

investment in fixed capital: NA

investment in inventories: NA

exports of goods and services: 27.2% (2015 est.)

imports of goods and services: -50.5% (2015 est.)

Agricultural products

coconuts, taro, bananas, yams, tropical fruit, pineapples, mangoes/guavas, papayas, roots/tubers, pork

Industries

food processing, building materials, auto parts

Industrial production growth rate

-9.65% (2021 est.)

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Labor force

58,400 (2021 est.)

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Labor force - by occupation

agriculture: 65%

industry: 6%

services: 29% (2015 est.)

Unemployment rate

9.84% (2021 est.)

9.15% (2020 est.)

8.41% (2019 est.)

NA

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Youth unemployment rate (ages 15-24)

total: 19.7%

male: 16.7%

female: 24.5% (2021 est.)

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Population below poverty line

20.3% (2013 est.)

Gini Index coefficient - distribution of family income

38.7 (2013 est.)

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Household income or consumption by percentage share

lowest 10%: NA

highest 10%: NA

Budget

revenues: $313 million (2020 est.)

expenditures: $263 million (2020 est.)

Budget surplus (+) or deficit (-)

-4.7% (of GDP) (2017 est.)

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Public debt

49.1% of GDP (2017 est.)

52.6% of GDP (2016 est.)

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Taxes and other revenues

24.42% (of GDP) (2020 est.)

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Fiscal year

June 1 - May 31

Current account balance

-$118.081 million (2021 est.)

-$79.68 million (2020 est.)

$34.073 million (2019 est.)

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Exports

$97.774 million (2021 est.) note: data are in current year dollars

$116.519 million (2020 est.)

$336.782 million (2019 est.)

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Exports - partners

United States 20%, New Zealand 16%, American Samoa 11%, Brazil 8%, Australia 7% (2021)

Exports - commodities

coconut oil, insulated wiring, refined petroleum, integrated circuits, sardines, air pumps, tuna, lemons, beer (2021)

Imports

$430.011 million (2021 est.) note: data are in current year dollars

$376.791 million (2020 est.)

$456.707 million (2019 est.)

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Imports - partners

New Zealand 24%, China 19%, Singapore 11%, United States 8%, Australia 7% (2021)

Imports - commodities

refined petroleum, poultry meats, iron, lumber, processed fish, cars (2021)

Reserves of foreign exchange and gold

$294.682 million (31 December 2021 est.)

$277.056 million (31 December 2020 est.)

$177.244 million (31 December 2019 est.)

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Debt - external

$447.2 million (31 December 2013 est.)

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Exchange rates

tala (SAT) per US dollar -

2.556 (2021 est.)

2.665 (2020 est.)

2.649 (2019 est.)

2.587 (2018 est.)

2.554 (2017 est.)

NOTE: The information regarding Samoa on this page is re-published from the 2023 World Fact Book of the United States Central Intelligence Agency and other sources. No claims are made regarding the accuracy of Samoa 2023 information contained here. All suggestions for corrections of any errors about Samoa 2023 should be addressed to the CIA or the source cited on each page.