American Samoa Economy Profile 2006

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 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 is a promising developing sector.

GDP (purchasing power parity)

$510.1 million (2003 est.)

GDP (official exchange rate)

$333.8 million

GDP - real growth rate

3% NA%

GDP - per capita (PPP)

$5,800 (2005 est.)

GDP - composition by sector

agriculture: NA%
industry: NA%
services: NA%

Population below poverty line

NA%

Household income or consumption by percentage share

lowest 10%: NA%
highest 10%: NA%

Inflation rate (consumer prices)

NA%

Labor force

17,630 (2005)

Labor force - by occupation

agriculture: 34%
industry: 33%
services: 33% (1990)

Unemployment rate

29.8% (2005)

Budget

revenues: $121 million (37% in local revenue and 63% in US grants)
expenditures: $127 million; including capital expenditures of $NA (FY96/97)

Industries

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

Industrial production growth rate

NA%

Electricity - production

130 million kWh (2003)

Electricity - consumption

120.9 million kWh (2003)

Electricity - exports

0 kWh (2003)

Electricity - imports

0 kWh (2003)

Oil - production

0 bbl/day (2003)

Oil - consumption

4,000 bbl/day (2003 est.)

Oil - imports

NA bbl/day

Oil - exports

NA bbl/day

Natural gas - production

0 cu m (2003 est.)

Natural gas - consumption

0 cu m (2003 est.)

Agriculture - products

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

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% (2005)

Imports

$308.8 million (FY04 est.)

Imports - commodities

materials for canneries 56%, food 8%, petroleum products 7%, machinery and parts 6% (2004 est.)

Imports - partners

Australia 66%, Samoa 13.8%, NZ 10.8% (2005)

Debt - external

$NA

Economic aid - recipient

important financial support from the US, more than $40 million in 1994

Currency (code)

US dollar (USD)

Exchange rates

the US dollar is used

Fiscal year

1 October - 30 September