Is American Samoa a wealthy country?
American Samoa is 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 processing are the backbone of the private sector with processed fish products as the primary exports. The fish processing business accounted for 15.5% of employment in 2015.
In late September 2009, an earthquake and the resulting tsunami devastated American Samoa and nearby Samoa, disrupting transportation and power generation, and resulting in about 200 deaths. The US Federal Emergency Management Agency oversaw a relief program of nearly $25 million. 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 has some potential as a source of income and jobs.
What is the GDP of American Samoa?
|Currency Name and Code||US Dollar (USD)|
|GDP - Gross Domestic Product (PPP)||$658,000,000 (USD)|
|GDP - official exchange rate||$748,600,000 (USD)|
|GDP - real growth rate||-2.4%|
|GDP Per Capita||$13,000.00 (USD)|
|GDP by Sector- agriculture||27.4%|
|GDP by Sector- Industry||12.4%|
|GDP by Sector- services||60.2%|
|GDP - composition, by end use||
Household Consumption: 54.6%
Government Consumption: 52.8%
Investment in Fixed Capital: 2.7%
Investment in Inventories: 2.3%
Exports of Goods and Services: 54.4%
Imports of Goods and Services: -66.8%
|Labor Force By Occupation- industry||13.1%|
|Labor Force By Occupation- services||86.9%|
|Fiscal Year||1 October - 30 September|
|Annual Budget||$241,200,000 (USD)|
|Budget Surplus or Deficit - percent of GDP||-0.3%|
|Taxes and other revenues - percent of GDP||32.2%|
|Major Industries||Tuna canneries (largely supplied by foreign fishing vessels), handicrafts|
|Agriculture Products||Bananas, coconuts, vegetables, taro, breadfruit, yams, copra, pineapples, papayas; dairy products, livestock|
|Exchange Rate per US Dollar||The US dollar is used|