4 GeoFroggy

Economy Overview

American Samoa s 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 most of its commerce. Tuna fishing and processing are the backbone of the private sector with processed fish products as the primary exports. The fish processing business accounted for 15.5% of employment in 2015.In late September 2009, an earthquake and the resulting tsunami devastated American Samoa and nearby Samoa, disrupting transportation and power generation, and resulting in about 200 deaths. The US Federal Emergency Management Agency oversaw a relief program of nearly $25 million. 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 has some potential as a source of income and jobs.

Agriculture Products

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

Industries

tuna canneries (largely supplied by foreign fishing vessels), handicrafts

Industrial Production Growth Rate

NA

Labor Force

17,850 (2015 est.)

Labor Force by Occupation

Agriculture: NA

Industry: 15.5%

Services: 46.4% (2015 est.)

Unemployment Rate

29.8% (2005)

Population Below Poverty Line

NA

Household Income or Consumption by Percentage Share

Lowest 10%: NA

Highest 10%: NA

Budget

Revenues: 249 million (2016 est.)

Expenditures: 262.5 million (2016 est.)

Budget Surplus

-2.1% (of GDP) (2016 est.)

Public Debt

12.2% of GDP (2016 est.)

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

the US dollar is used
Year

Taxes and Other Revenues

  • 37.8% (of GDP) (2016 est.)

Fiscal Year

  • 1 October - 30 September

Real GDP

  •  
    $658 million
  • 1
    $674.9 million
  • 2
    $666.9 billion

GDP Purchasing Power Parity

GDP Real Growth Rate

GDP Per Capital

  •  
    $11,200 (2016 est.)
  • 1
    $11,300 (2015 est.)
  • 2
    $11,200 (2014 est.)

Inflation Rate

  •  
    -0.5% (2015 est.)
  • 1
    1.4% (2014 est.)

Gross National Saving

GDP Composition by end Use

  • Household consumption
    66.4% (2016 est.)
  • Government consumption
    49.7% (2016 est.)
  • Investment in fixed capital
    7.3% (2016 est.)
  • Investment in inventories
    5.1% (2016 est.)
  • Exports of goods and services
    65% (2016 est.)
  • Imports of goods and services
    -93.5% (2016 est.)

GDP Composition by Sector of Origin

  • Agriculture
    27.4% (2012)
  • Industry
    12.4% (2012)
  • Services
    60.2% (2012)

Inflation Rate Consumer Prices

Current Account Balance

Exports

  • 0
    $428 million (2016
  • 1
    $427 million (2015

Exports Partners

  • Australia
    25%
  • Ghana
    19%
  • Indonesia
    15.6%
  • Burma
    10.4%
  • Portugal
    5.1%

Exports Commodities

    Canned tuna

Imports

  • 0
    $615 million (2016
  • 1
    $657 million (2015

Imports Partners

  • Fiji
    10.7%
  • Singapore
    10.4%
  • NZ
    10.4%
  • South
    Korea
  • Samoa
    8.2%
  • Kenya
    6.4%
  • Australia
    5.2%

Imports Commodities

    Raw materials for canneries, food, petroleum products, machinery and parts