4 GeoFroggy

Economy Overview

This is a traditional Polynesian economy in which more than 90% of the land is communally owned. Economic activity is strongly linked to the US, with which American Samoa conducts the great bulk of its foreign trade. Tuna fishing and tuna processing plants are the backbone of the private sector, with canned tuna the primary export. Transfers from the US Government add substantially to American Samoa's economic well-being. Attempts by the government to develop a larger and broader economy are restrained by Samoa's remote location, its limited transportation, and its devastating hurricanes. Tourism, a developing sector, may be held back by the current financial difficulties in East Asia.

Agriculture Products

bananas, coconuts, vegetables, taro, breadfruit, yams, copra, pineapples, papayas; dairy products, livestock

Industries

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

Industrial Production Growth Rate

NA%

Labor Force

13,949 (1996)

Electricity production

125 million kWh (1998)

Electricity production by source

Fossil fuel: 100%

Hydro: 0%

Nuclear: 0%

Other: 0% (1998)

Electricity Consumption

116 million kWh (1998)

Electricity Exports

0 kWh (1998)

Electricity Imports

0 kWh (1998)

Currency

1 US dollar (US$) = 100 cents

Unemployment Rate

12% (1991)

Population Below Poverty Line

NA%

Household Income or Consumption by Percentage Share

Lowest 10%: NA%

Highest 10%: NA%

Budget

Revenues: $121 million (37% in local revenue and 63% in US grants)

Expenditures: $127 million, including capital expenditures of $NA (FY96/97)

Commercial Bank Prime Lending Rate

Stock of Narrow Money

Stock of Broad Money

Stock of Domestic Credit

Market Value of Publicly Traded Shares

Reserves of Foreign Exchange and Gold

Debt External

$NA

Stock of Direct Foreign Investment at Home

Stock of Direct Foreign Investment Abroad

Exchange Rates

US currency is used
Year

Fiscal Year

  • 1 October - 30 September

GDP Purchasing Power Parity

    Purchasing power parity - $150 million (1995 est.)

GDP Real Growth Rate

    NA%

GDP Per Capital

    Purchasing power parity - $2,600 (1995 est.)

Gross National Saving

GDP Composition by end Use

GDP Composition by Sector of Origin

  • Agriculture
    NA%
  • Industry
    NA%
  • Services
    NA%

Inflation Rate Consumer Prices

    NA%

Current Account Balance

Exports

    $313 million (1996)

Exports Partners

Exports Commodities

    Canned tuna 93%

Imports

    $471 million (1996)

Imports Partners

  • US
    62%
  • Japan
    9%
  • NZ
    7%
  • Australia
    11%
  • Fiji
    4%
  • Other
    7%

Imports Commodities

  • Materials for canneries
    56%
  • Food
    8%
  • Petroleum products
    7%
  • Machinery and parts
    6%