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The economy of 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 United States, with which American Samoa conducts the great bulk of its foreign trade. Tuna fishing and processing plants are the backbone of the private sector, with canned tuna being the primary export. Transfers from the U.S. federal 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.

Statistics

thumb|Employment in the canning industry in American Samoa. Employment in the industry fell following the 2009 closure of a Chicken of the Sea cannery GDP: purchasing power parity – $537 million (2007 est.)
''country comparison to the world:'' 210 GDP (official exchange rate): $462.2 million (2005) GDP – real growth rate: 3% (2003)
''country comparison to the world:'' 139 GDP – per capita: purchasing power parity – $7,874 (2008)
''country comparison to the world:'' 120 GDP – composition by sector:
''agriculture:'' NA%
''industry:'' NA%
''services:'' NA% (2002) Labor Force: 17,630 (2005)
''country comparison to the world:'' 203 Labor force – by occupation: government 33%, tuna canneries 34%, other 33% (1990) Unemployment rate: 23.8% (2010)
''country comparison to the world:'' 175 Population below poverty line: NA% (2002 est.) Household income or consumption by percentage share:
''lowest 10%:'' NA%
''highest 10%:'' NA% Inflation rate (consumer prices): NA% (2003 est.) Budget:
''revenues:'' $155.4 million (37% in local revenue and 63% in US grants)
''expenditures:'' $183.6 million (FY07) Agriculture – products: bananas, coconuts, vegetables, taro, breadfruit, yams, copra, pineapples, papayas; dairy products, livestock Industries: tuna canneries (largely dependent on foreign fishing vessels), handicrafts Industrial production growth rate: NA% Electricity – production: 180 GWh (2006)
''country comparison to the world:'' 179 Electricity – production by source:
''fossil fuel:'' 100%
''hydro:'' 0%
''nuclear:'' 0%
''other:'' 0% (2001) Electricity – consumption: 167.4 GWh (2006)
''country comparison to the world:'' 179 Electricity – exports: 0 kWh (2007) Electricity – imports: 0 kWh (2007) Oil – production: (2007 est.)
''country comparison to the world:'' 209 Oil – consumption: (604 m³/d), 2006
''country comparison to the world:'' 170 Oil – exports: (2005)
''country comparison to the world:'' 142 Oil – imports: (2005)
''country comparison to the world:'' 166 Natural gas – production: 0 cu m (2007)
''country comparison to the world:'' 208 Natural gas – consumption: 0 cu m (2007)
''country comparison to the world:'' 207 Natural gas – exports: 0 cu m (2007)
''country comparison to the world:'' 202 Natural gas – imports: 0 cu m (2007)
''country comparison to the world:'' 201 Natural gas – proved reserves: 0 cu m (2006)
''country comparison to the world:'' 205 Exports: $445.6 million (2004)
''country comparison to the world:'' 167 Exports – commodities: canned tuna 93% (2004) Exports – partners: Indonesia 70%, Australia 6.7%, Japan 6.7%, Samoa 6.7% (2002) Imports: $308.8 million (2004)
''country comparison to the world:'' 195 Imports – commodities: materials for canneries 56%, food 8%, petroleum products 7%, machinery and parts 6% (2004) Imports – partners: Australia 36.6%, New Zealand 20.3%, South Korea 16.3%, Mauritius 4.9% (2002) Debt – external: $NA (2002 est.) Economic aid – recipient: $NA; note – important financial support from the US, more than $40 million in 1994 Currency: US dollar (USD) Currency code: USD Exchange rates: US dollar is used Fiscal year: 1 October – 30 September

References



External links

* http://www.classbrain.com/art_cr/publish/american_samoa_economy.shtml {{DEFAULTSORT:Economy Of American Samoa