Monday, July 22, 2013

The Samoan Economy:

          The agricultural and industrial sectors employ 70 percent of the workforce and account for 65 percent of the gross domestic product (GDP). The service sector employs 30 percent of those employed and accounts for 35 percent of the GDP. Much of this sector is associated with the tourist industry, which is limited by intense competition from other islands in the region and its dependence on economic conditions in source countries.
         Trade is also a huge part of the large and expansive Samoan economy. New Zealand is Samoa's principal trading partner, typically providing between 35% and 40% of imports and purchasing 45%-50% of exports. Australia, American Samoa, the United States, and Fiji also are important trading partners. Its main imports are food and beverages, industrial supplies, and fuels. Samoa's principal exports are coconut products and fish.

          As mentioned earlier in the post, tourism is a major source of income for the Samoan nation. In 1972, more than 85,000 visitors arrived in Samoa, contributing over $12 million to the local economy. One-third came from American Samoa, 28% from New Zealand, and 11% from the United States. Arrivals also increased in 2000, as visitors to the South Pacific avoided the political strife in Fiji by traveling to Samoa instead. In 2007, Samoa received a record high 122,000 visitors. 
          Agriculture and industrial sectors along with trade and tourism are the many factors that make up the Samoan economy.

Bibliography:

Economy of Samoa
          2009: Samoan Economy. Electronic Document, https://www.princeton.edu/~achaney/tmve/wiki100k/docs/Economy_of_Samoa.html, accessed July 20, 2013. 

Culture of Samoa
            1970: Tradition and Economic Progress in Samoa. Electronic Document, http://www.everyculture.com/No-Sa/Samoa.html, accessed July 20, 2013


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