Samoa Archives - Economy Watch

Samoa Skips December 30th To Align Calendar With Trading Partners

The South Pacific nation of Samoa, along with neighbouring Tokelau, will be cutting out December 30^th from their calendars this year, in an attempt to move their time-zone 24 hours ahead to catch up with their major trading partners in Asia, Australia and New Zealand.

Since 1892, Samoa has been following the US time-zone, after American traders had persuaded them to do so in order to facilitate business with the West Coast of the United States.

Export and Import of Samoa, Samoa Foreign Trade

FOREIGN TRADE

Samoa has experienced a balance of trade as well as balance of payment deficit over various years.

Major exportable items of the country are food items, cocoa, manufactures, and fish. Its exports partners are US, Germany and Australia.

Important importable items of the country are capital goods and food items. For imports the country depends upon the countries such as US, Japan and Australia.

Economic Structure Of Samoa, Samoa Economy Structure

STRUCTURE OF THE ECONOMY

Both the services sector as well and industries sector has their respective importance in the country’s economy.

Major agricultural products of the country are coffee, cocoa, bananas, and yams.

Important industries are auto parts, food processing, and tourisms.

Services constitute more than 60% of the total GDP followed by industries at around 20%.

Samoa Economy

Samoa is a lower middle-income economy comes under the East Asia and the Pacific region as to the classification made by the World Bank on the basis of income and region for the year 2006.

The country has a total surface area of 2,840.0 square kilometers as in the year 2004, with a forest area of 1,710.0 square kilometers.

Samoa Economy – Demography and Social Indicators