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ECONOMY OF SAMOA
Samoa is a lower middle-income Pacific island economy; enormous fishing and agriculture industries; significant remittances; growing offshore financial hub; recently hosted Pacific Games to drive tourism and infrastructure growth. [Source: CIA World Factbook, 2023]
Sectors of the Economy Composition of GDP by Origin) agriculture: 10.4 percent (2017 estimate)
industry: 23.6 percent (2017 estimate)
services: 66 percent (2017 estimate)
comparison rankings: agriculture 87; industry 120; services 90. [Source: CIA World Factbook, 2023]
Sectors of the Economy Composition of GDP by End Use): exports of goods and services: 27.2 percent (2015 estimate); imports of goods and services: -50.5 percent (2015 estimate). [Source: CIA World Factbook, 2023]
Natural Resources: hardwood forests, fish, hydropower
Industries: food processing, building materials, auto parts. Industrial Production Growth -9.65 percent (2021 estimate); ranking compared to other countries in the world: 199. [Source: CIA World Factbook, 2023]
Fiscal Year: June 1: May 31. [Source: CIA World Factbook, 2023]
Economic Statistics
Gross Domestic Product (GDP) (purchasing power parity): $1.211 billion (2021 estimate)
$1.303 billion (2020 estimate)
$1.345 billion (2019 estimate). Data are in 2017 dollars; ranking compared to other countries in the world: 206. [Source: CIA World Factbook, 2023]
Growth: -7.08 percent (2021 estimate)
-3.11 percent (2020 estimate)
4.45 percent (2019 estimate); ranking compared to other countries in the world: 217. [Source: CIA World Factbook, 2023]
Per Capita GDP: $5,500 (2021 estimate)
$6,100 (2020 estimate)
$6,300 (2019 estimate). Data are in 2017 dollars; ranking compared to other countries in the world: 170. [Source: CIA World Factbook, 2023]
GDP: (official exchange): $841 million (2017 estimate). [Source: CIA World Factbook, 2023]
Inflation (consumer prices): 3.13 percent (2021 estimate)
-1.57 percent (2020 estimate)
0.98 percent (2019 estimate); ranking compared to other countries in the world: 119
Agriculture in Samoa
Agricultural Products: coconuts, taro, bananas, yams, tropical fruit, pineapples, mangoes/guavas, papayas, roots/tubers, pork. [Source: CIA World Factbook, 2023]
Land Use: agricultural land: 12.4 percent (2018 estimate). Arable Land: 2.8 percent (2018 estimate); permanent crops: 7.8 percent (2018 estimate); permanent pasture: 1.8 percent (2018 estimate); forest: 60.4 percent (2018 estimate); other: 27.2 percent (2018 estimate). Irrigated Land: 0 square kilometers (2022). [Source: CIA World Factbook 2023]
Labor, Poverty and Unemployment
Labor Force: 58,400 (2021 estimate); ranking compared to other countries in the world: 189. [Source: CIA World Factbook, 2023]
Labor Force by Occupation: agriculture: 65 percent; industry: 6 percent; services: 29 percent (2015 estimate). [Source: CIA World Factbook, 2023]
Unemployment Rate: 9.84 percent (2021 estimate)
9.15 percent (2020 estimate)
8.41 percent (2019 estimate)
NA; ranking compared to other countries in the world: 78. [Source: CIA World Factbook 2023]
Youth Unemployment Rate (ages 15-24): total: 19.7 percent; male: 16.7 percent; female: 24.5 percent (2021 estimate); ranking compared to other countries in the world: 83. [Source: CIA World Factbook 2023]
Population Below Poverty Line: 20.3 percent (2013 estimate)
Gini Index coefficient: distribution of family income
38.7 (2013 estimate); ranking compared to other countries in the world: 72. [Source: CIA World Factbook, 2023]
Household Income or Consumption by Percentage Share: lowest 10 percent: NA; highest 10 percent: NA. [Source: CIA World Factbook, 2023]
Trade in Samoa
Current Account Balance: -$118.081 million (2021 estimate)
-$79.68 million (2020 estimate)
$34.073 million (2019 estimate); ranking compared to other countries in the world: 92. [Source: CIA World Factbook, 2023]
Exports (data in current year dollars): $97.774 million (2021 estimate); $116.519 million (2020 estimate); $336.782 million (2019 estimate); ranking compared to other countries in the world: 207. [Source: CIA World Factbook, 2023]
Main Exports: coconut oil, insulated wiring, refined petroleum, integrated circuits, sardines, air pumps, tuna, lemons, beer (2021). Export Partners: United States 20 percent, New Zealand 16 percent, American Samoa 11 percent, Brazil 8 percent, Australia 7 percent (2021). [Source: CIA World Factbook, 2023]
Imports (data in current year dollars): $430.011 million (2021 estimate); $376.791 million (2020 estimate); $456.707 million (2019 estimate); ranking compared to other countries in the world: 205. [Source: CIA World Factbook, 2023]
Main Imports: refined petroleum, poultry meats, iron, lumber, processed fish, cars (2021). Import Partners: New Zealand 24 percent, China 19 percent, Singapore 11 percent, United States 8 percent, Australia 7 percent (2021). [Source: CIA World Factbook, 2023]
Debt and Foreign Exchange
Reserves of Foreign Exchange and Gold: $294.682 million (31 December 2021 estimate)
$277.056 million (31 December 2020 estimate)
$177.244 million (31 December 2019 estimate); ranking compared to other countries in the world: 181. [Source: CIA World Factbook, 2023]
Debt (External): $447.2 million (31 December 2013 estimate); ranking compared to other countries in the world: 179. [Source: CIA World Factbook, 2023]
Public Debt: 49.1 percent of GDP (2017 estimate)
52.6 percent of GDP (2016 estimate); ranking compared to other countries in the world: 108. [Source: CIA World Factbook, 2023]
Taxes: 24.42 percent (of GDP) (2020 estimate); ranking compared to other countries in the world: 55. [Source: CIA World Factbook, 2023]
Currency Exchange Rates: tala (SAT) per US dollar
2.556 (2021 estimate)
2.665 (2020 estimate)
2.649 (2019 estimate)
2.587 (2018 estimate)
2.554 (2017 estimate)
[Source: CIA World Factbook, 2023]
Image Sources:
Text Sources: CIA World Factbook, 2023; “Encyclopedia of World Cultures, Volume 2: Oceania,” edited by Terence E. Hays, 1991, Wikipedia, New York Times, Washington Post, Los Angeles Times, Times of London, Lonely Planet Guides, Library of Congress, The Guardian, National Geographic, Smithsonian magazine, The New Yorker, Reuters, Associated Press, AFP, BBC, CNN, and various books, websites and other publications.
Last updated August 2023