Samoa Economy

The economy of the South Pacific island country of Samoa mainly banks on remittances, fishing, agriculture and tourism. The basic food requirements are met by means of subsistence production. Protection of the environment is an important task undertaken by the Samoan government.
The government in Samoa also aims at deregulating the fiscal segment, encouraging investments and maintaining proper discipline with regard to finances.

Key indicators of Samoa economy:
Gross domestic product PPP in 2002 was USD1 billion.
Gross domestic product real growth rate was 5.5% in the year 2005.
Gross domestic product per capita- purchasing power parity was USD 2,100 in 2005.
Gross domestic product in different sectors-2004:
Industry-58.4%
Agriculture-11.4%
Service-30.2%

Total work force in 2000 was 90,000.

Inflation rate (2005, consumer prices) was 3.3%

Agricultural products are cocoa, coconuts, taro, bananas, yams and coffee.

The main industries in Samoa are construction materials, food processing and auto parts.

Trade in Samoa:

Samoa commodities for export:
Copra, taro, fish, cream and oil made of coconut, beer, auto parts, garments are the main products of export.
Samoa export partners in 2005:
United States of America, Australia, American Samoa are the countries where commodities are exported.
Import commodities:
Food, equipments, machinery, industrial end products.

Samoa imported (2005)goods from Fiji, Japan, China, New Zealand, United States, Australia.

Debt external was USD177 million in the year 2004.

Currency of Samoa is tala. The currency code is SAT.

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Last Updated on : 25th June 2013