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Economy of American Samoa
The economy of American Samoa is a traditional Polynesian economy in which more than 90% of the land is communally owned.[4] American Samoa is an unincorporated territory of the United States; economic activity is strongly linked to the main customs zone of the U.S., with which American Samoa conducts the great bulk of its trade. Tuna fishing and processing plants are the backbone of the private sector, with canned tuna being the primary export. Transfers from the U.S. federal 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. _(cropped).jpg) Statistics.jpg) GDP: purchasing power parity – $537 million (2007 est.)
GDP (official exchange rate): $462.2 million (2005) GDP – real growth rate: 3% (2003)
GDP – per capita: purchasing power parity – $7,874 (2008)
GDP – composition by sector:
Labor Force: 17,630 (2005)
Labor force – by occupation: government 33%, tuna canneries 34%, other 33% (1990) Unemployment rate: 23.8% (2010)
Population below poverty line: NA% (2002 est.) Household income or consumption by percentage share:
Inflation rate (consumer prices): NA% (2003 est.) Budget:
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% Electricity – production: 180 GWh (2006)
Electricity – production by source:
Electricity – consumption: 167.4 GWh (2006)
Electricity – exports: 0 kWh (2007) Electricity – imports: 0 kWh (2007) Oil – production: 0 barrels per day (0 m3/d) (2007 est.)
Oil – consumption: 4,053 barrels per day (644.4 m3/d) (604 m3/d), 2006
Oil – exports: 0 barrels per day (0 m3/d) (2005)
Oil – imports: 4,066 barrels per day (646.4 m3/d) (2005)
Natural gas – production: 0 cu m (2007)
Natural gas – consumption: 0 cu m (2007)
Natural gas – exports: 0 cu m (2007)
Natural gas – imports: 0 cu m (2007)
Natural gas – proved reserves: 0 cu m (2006)
Exports: $445.6 million (2004)
Exports – commodities: canned tuna 93% (2004) Exports – partners: Indonesia 70%, Australia 6.7%, Japan 6.7%, Samoa 6.7% (2002) Imports: $308.8 million (2004)
Imports – commodities: materials for canneries 56%, food 8%, petroleum products 7%, machinery and parts 6% (2004) Imports – partners: Australia 36.6%, New Zealand 20.3%, South Korea 16.3%, Mauritius 4.9% (2002) Debt – external: $NA (2002 est.) Economic aid – recipient: $NA; note – important financial support from the US, more than $40 million in 1994 Currency: US dollar (USD) Currency code: USD Exchange rates: US dollar is used Fiscal year: 1 October – 30 September References
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