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New Zealand occupied the German protectorate of Western Samoa at the outbreak of World War I in 1914. It continued to administer the islands as a mandate and then as a trust territory until 1962, when the islands became the first Polynesian nation to reestablish independence in the 20th century. The country dropped the "Western" from its name in 1997.


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Economy

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) World Ranking: 201
$1.104 billion (2011 est.)
$1.081 billion (2010 est.)
$1.079 billion (2009 est.)
Note Data are in 2011 US dollars

Gdp (official exchange rate)
$630 million (2011 est.)

Gdp - real growth rate World Ranking: 144
2.1% (2011 est.)
0.2% (2010 est.)
-5.4% (2009 est.)

Gdp - per capita (ppp) World Ranking: 139
$6,000 (2011 est.)
$5,900 (2010 est.)
$5,900 (2009 est.)
Note Data are in 2011 US dollars

Gdp - composition by sector
Agriculture 9.9%
Industry 28.8%
Services 61.4% (2011 est.)

Labor force World Ranking: 185
66,270 (2007 est.)

Labor force - by occupation
Agriculture NA%
Industry NA%
Services NA%

Unemployment rate
NA%

Population below poverty line
NA%

Household income or consumption by percentage share
Lowest 10% NA%
Highest 10% NA%

Budget
Revenues $258.9 million
Expenditures $302.1 million (2011 est.)

Taxes and other revenues World Ranking: 45
41.1% of GDP (2011 est.)

Budget surplus (+) or deficit (-) World Ranking: 182
-6.8% of GDP (2011 est.)

Inflation rate (consumer prices) World Ranking: 137
5.2% (2011 est.)
0.8% (2010 est.)

Commercial bank prime lending rate World Ranking: 81
9.96% (31 December 2011 est.)
10.725% (31 December 2010 est.)

Stock of narrow money World Ranking: 183
$110.4 million (31 December 2011 est.)
$105.7 million (31 December 2010 est.)

Stock of broad money World Ranking: 185
$307.6 million (31 December 2011 est.)
$323.6 million (31 December 2010 est.)

Stock of domestic credit World Ranking: 180
$212.3 million (31 December 2011 est.)
$256.8 million (31 December 2010 est.)

Market value of publicly traded shares
$NA

Agriculture - products
Coconuts, bananas, taro, yams, coffee, cocoa

Industries
Food processing, building materials, auto parts

Industrial production growth rate World Ranking: 108
2.8% (2000)

Electricity - production World Ranking: 190
108 million kWh (2009 est.)

Electricity - consumption World Ranking: 192
98.58 million kWh (2008 est.)

Electricity - exports
0 kWh (2009 est.)

Electricity - imports
0 kWh (2009 est.)

Oil - production World Ranking: 133
0 bbl/day (2010 est.)

Oil - consumption World Ranking: 204
1,000 bbl/day (2010 est.)

Oil - exports World Ranking: 195
0 bbl/day (2009 est.)

Oil - imports World Ranking: 189
1,125 bbl/day (2009 est.)

Oil - proved reserves World Ranking: 186
0 bbl (1 January 2011 est.)

Natural gas - production World Ranking: 120
0 cu m (2009 est.)

Natural gas - consumption World Ranking: 126
0 cu m (2009 est.)

Natural gas - exports World Ranking: 171
0 cu m (2009 est.)

Natural gas - imports World Ranking: 121
0 cu m (2009 est.)

Natural gas - proved reserves World Ranking: 122
0 cu m (1 January 2011 est.)

Current account balance World Ranking: 67
-$58.9 million (2010 est.)
-$57.9 million (2010 est.)

Exports World Ranking: 202
$35.49 million (2010 est.)
$25.11 million (2009 est.)

Exports - commodities
Fish, coconut oil and cream, copra, taro, automotive parts, garments, beer

Exports - partners
American Samoa 50%, Australia 23.6% (2011)

Imports World Ranking: 200
$280 million (2010 est.)
$280 million (2010 est.)

Imports - commodities
Machinery and equipment, industrial supplies, foodstuffs

Imports - partners
NZ 24%, Fiji 17.2%, Singapore 15.4%, China 8.5%, Japan 8.2%, Australia 6.7%, US 5.3% (2011)

Reserves of foreign exchange and gold World Ranking: 157
$165.6 million (31 December 2011 est.)
$209.5 million (31 December 2010 est.)

Debt - external World Ranking: 181
$235.5 million (31 December 2009 est.)
$177 million (2004)

Exchange rates
Tala (SAT) per US dollar -
2.3175 (2011 est.)
2.4847

Fiscal year
June 1 - May 31


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  Samoa (Apia):


  GPS points from Samoa (Apia)

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