mailing address: P. O. Box 3430, Apia
telephone: [685] 21631
FAX: [685] 22030
Flag description: red with a blue rectangle in the upper hoist-side quadrant bearing five white five-pointed stars representing the Southern Cross constellation
Samoa Economy
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: agriculture: 15%