Agriculture > products
coconuts, bananas, taro, yams, coffee, cocoa |
|
Current account balance
|
-$24,000,000.00 |
|
[70th of 181]
|
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Source: CIA World Factbook, 28 July 2005 |
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Debt > External
|
$177,000,000.00 |
|
[23rd of 136]
|
|
Source: All CIA World Factbooks 18 December 2003 to 18 December 2008 |
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Economic freedom
|
2.2 |
|
[56th of 156]
|
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Source: All CIA World Factbooks 18 December 2003 to 18 December 2008 |
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 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; 116,000 tourists visited the islands in 2006. 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. |
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Source: The Heritage Foundation |
Exchange rates
tala per US dollar - 2.7807 (2004), 2.9732 (2003), 3.3763 (2002), 3.478 (2001), 3.2864 (2000) |
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Source: All CIA World Factbooks 18 December 2003 to 18 December 2008 |
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Exports
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$131,000,000.00 |
|
[174th of 189]
|
|
Source: CIA World Factbook, 28 July 2005 |
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GDP
|
$422,494,900.00 |
|
[159th of 203]
|
|
Source: All CIA World Factbooks 18 December 2003 to 18 December 2008 |
|
GDP (purchasing power parity)
|
$1,029,000,000.00 |
|
[179th of 187]
|
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Source: World Development Indicators database and CIA World Factbook |
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GDP > PPP
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$1,019,000,000.00 |
|
[154th of 163]
|
|
Source: All CIA World Factbooks 18 December 2003 to 18 December 2008 |
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GDP > Real growth rate
|
6% |
|
[75th of 198]
|
|
Source: World Bank. 2005. World Development Indicators 2005. |
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GDP growth > annual %
|
5.4 annual %
|
|
[68th of 187]
|
|
Source: All CIA World Factbooks 18 December 2003 to 18 December 2008 |
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GDP per capita, PPP > current international $
|
6,170.21 PPP $
|
|
[79th of 169]
|
|
Source: World Development Indicators database |
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Gross National Income
|
$259,757,000.00 |
|
[160th of 172]
|
|
Source: World Development Indicators database |
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Gross national income > constant LCU
|
588620700 |
|
|
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Human Development Index
|
0.776 |
|
[74th of 178]
|
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Source: World Development Indicators database |
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Inflation rate (consumer prices)
|
6% |
|
[80th of 192]
|
|
Source: Human Development Report 2006, United Nations Development Programme |
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Total reserves minus gold > current US$
|
92,229,790 $
|
|
[159th of 178]
|
|
Source: All CIA World Factbooks 18 December 2003 to 18 December 2008 |
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Tourist arrivals
|
68,000 |
|
[125th of 152]
|
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Source: World Development Indicators database |
|
Tourist arrivals by region of origin > Europe
|
4,632 |
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[163rd of 195]
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Source: United Nations World Statistics Pocketbook and Statistical Yearbook |
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