name: "O le Fu"a o le Sa"olotoga o Samoa" (The Banner of Freedom)
lyrics/music: Sauni Iiga KURESA
note: adopted 1962; the anthem is also known as "Samoa Tula'i" (Samoa Arise)
Economy ::Samoa
Economy - overview:
The economy of Samoa has traditionally been dependent on development aid, family remittances from overseas, agriculture, and fishing. 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. One factory in the Foreign Trade Zone employs 3,000 people to make automobile electrical harnesses for an assembly plant in Australia. Tourism is an expanding sector accounting for 25% of GDP; 122,000 tourists visited the islands in 2007. In late September 2009, an earthquake and the resulting tsunami severely damaged Samoa, and nearby American Samoa, disrupting transportation and power generation, and resulting in about 200 deaths. The Samoan Government has called for deregulation of the financial sector, encouragement of investment, and continued fiscal discipline, while at the same time protecting the environment. 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):
$1.002 billion (2010 est.) country comparison to the world: 200 $1.022 billion (2009 est.)
$1.059 billion (2008 est.)
note: data are in 2010 US dollars