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![]() ![]() Western Samoa Economy 1997https://photius.com/wfb1997/western_samoa/western_samoa_economy.htmlSOURCE: 1997 CIA WORLD FACTBOOK Economy - overview The economy of Western Samoa has traditionally been dependent on developmentaid, private family remittances from overseas, and agricultural exports. Increasingly,tourism is becoming a significant source of revenue, earning approximately$34 million in 1995. While registering an overall economic improvement in1995, however, the country continues to struggle with a series of naturaldisasters from the early 1990s which wiped out the nation's infrastructureas well as its then-major export crop, taro root. Agriculture continues tobe a key source of wealth for Apia, employing more than one-half of the laborforce, and furnishing 90% of exports. The bulk of these export earnings comesfrom the sale of coconut cream, coconut oil, and copra. Family remittancesalso play a key role in economic viability for the island nation - in 1995,remittances totaled $34.9 million, four times export earnings. The economydid well in 1996, supported by a steady flow of foreign aid and remittances. GDP purchasing power parity - $415 million (1995 est.) GDP - real growth rate 6.7% (1995 est.) GDP - per capita purchasing power parity - $1,900 (1995 est.) GDP - composition by sector
Inflation rate - consumer price index 1% (1995) Labor force
Unemployment rate NA% Budget
Industries timber, tourism, food processing, fishing Industrial production growth rate NA% Electricity - capacity 29,000 kW (1990) Electricity - production 60 million kWh (1994) Electricity - consumption per capita 287 kWh (1995 est.) Agriculture - products coconuts, bananas, taro, yams Exports
Imports
Debt - external $178.3 million (1995 est.) Economic aid
Currency 1 tala (WS$) = 100 sene Exchange rates tala (WS$) per US$1 - 2.4570 (January 1997), 2.4618 (1996), 2.4722 (1995),2.5349 (1994), 2.5681 (1993), 2.4655 (1992) Fiscal year
calendar year
NOTE: The information regarding Western Samoa on this page is re-published from the 1997 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Western Samoa Economy 1997 information contained here. All suggestions for corrections of any errors about Western Samoa Economy 1997 should be addressed to the CIA. |
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