American Samoa Economy 2008

Economy - overview:
American Samoa has 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 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 is a promising developing sector.

GDP (purchasing power parity):
$510.1 million (2003 est.)

GDP (official exchange rate):
$333.8 million (2005)

GDP - real growth rate:
3% (2003)

GDP - per capita (PPP):
$5,800 (2005 est.)

GDP - composition by sector:
agriculture: NA%
industry: NA%
services: NA%

Labor force:
17,630 (2005)

Labor force - by occupation:
agriculture: 34%
industry: 33%
services: 33% (1990)

Unemployment rate:
29.8% (2005)

Population below poverty line:
NA%

Household income or consumption by percentage share:
lowest 10%: NA%
highest 10%: NA%

Inflation rate (consumer prices):
NA%

Budget:
revenues: $121 million (37% in local revenue and 63% in US grants)
expenditures: $127 million (FY96/97)

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%

Electricity - production:
180 million kWh (2005)

Electricity - consumption:
167.4 million kWh (2005)

Electricity - exports:
0 kWh (2005)

Electricity - imports:
0 kWh (2005)

Oil - production:
0 bbl/day (2005)

Oil - consumption:
4,000 bbl/day (2005 est.)

Oil - exports:
0 bbl/day (2004)

Oil - imports:
3,807 bbl/day (2004)

Oil - proved reserves:
0 bbl (1 January 2006 est.)

natural gas - production:
0 cu m (2005 est.)

natural gas - consumption:
0 cu m (2005 est.)

natural gas - exports:
0 cu m (2005 est.)

natural gas - imports:
0 cu m (2005)

natural gas - proved reserves:
0 cu m (1 January 2006 est.)

Exports:
$445.6 million (FY04 est.)

Exports - commodities:
canned tuna 93% (2004 est.)

Exports - partners:
Indonesia 28.2%, India 22.3%, Australia 15.3%, Japan 11.2%, NZ 7.1% (2006)

Imports:
$308.8 million (FY04 est.)

Imports - partners:
Australia 66%, Samoa 13.8%, NZ 10.8% (2006)

Economic aid - recipient:
important financial support from the US, more than $40 million in 1994

Debt - external:
$NA

Currency (code):
US dollar (USD)

Exchange rates:
the US dollar is used