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![]() ![]() Samoa Economy 2001https://photius.com/wfb2001/samoa/samoa_economy.htmlSOURCE: 2001 CIA WORLD FACTBOOK Economy - overview: The economy of Samoa has traditionally been dependent on development aid, family remittances from overseas, and agricultural exports. The country is vulnerable to devastating storms. Agriculture employs two-thirds of the labor force, and furnishes 90% of exports, featuring coconut cream, coconut oil, and copra. The manufacturing sector mainly processes agricultural products. Tourism is an expanding sector, accounting for 15% of GDP; about 85,000 tourists visited the islands in 2000. The Samoan Government has called for deregulation of the financial sector, encouragement of investment, and continued fiscal discipline. Observers point to the flexibility of the labor market as a basic strength for future economic advances. Foreign reserves are in a relatively healthy state, the external debt is stable, and inflation is low. GDP: purchasing power parity - $571 million (2000 est.) GDP - real growth rate: 6.8% (2000 est.) GDP - per capita: purchasing power parity - $3,200 (2000 est.) GDP - composition by sector:
Population below poverty line: NA% Household income or consumption by percentage share:
Inflation rate (consumer prices): 0.8% (2000 est.) Labor force: 90,000 (2000 est.) Labor force - by occupation: agriculture 65%, services 30%, industry 5% (1995 est.) Unemployment rate: NA%; note - substantial underemployment Budget:
Industries: food processing, building materials, auto parts Industrial production growth rate: 10% (2000 est.) Electricity - production: 100 million kWh (1999) Electricity - production by source:
Electricity - consumption: 93 million kWh (1999) Electricity - exports: 0 kWh (1999) Electricity - imports: 0 kWh (1999) Agriculture - products: coconuts, bananas, taro, yams Exports: $17 million (f.o.b., 2000) Exports - commodities: coconut oil and cream, copra, fish, beer Exports - partners: American Samoa 59%, US 18%, Germany 9%, New Zealand 8% (2000 est.) Imports: $90 million (f.o.b., 2000) Imports - commodities: machinery and equipment, industrial supplies, foodstuffs Imports - partners: New Zealand 37%, Australia 24%, Fiji 14%, US 14% (2000 est.) Debt - external: $180 million (1998 est.) Economic aid - recipient: $42.9 million (1995) Currency: tala (WST) Currency code: WST Exchange rates: tala per US dollar - 3.3400 (January 2001), 3.2712 (2000), 3.0120 (1999), 2.9429 (1998), 2.5562 (1997), 2.4618 (1996) Fiscal year:
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NOTE: The information regarding Samoa on this page is re-published from the 2001 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Samoa Economy 2001 information contained here. All suggestions for corrections of any errors about Samoa Economy 2001 should be addressed to the CIA. |