American Samoa GDP Decreases in 2017

August 28, 2018

The U.S. Bureau of Economic Analysis indicated that, “The estimates of GDP for American Samoa showed that real GDP decreased 5.3 percent in 2017 after decreasing 2.7 percent in 2016. Real GDP for the United States, excluding the territories, increased 2.2 percent in 2017 after increasing 1.6 percent in 2016.”

The American Samoa economy declined due to decreases in exports of goods and government spending. These decreases were partly offset by a decrease in imports of goods. Additionally, exports of goods decreased 22.8 percent primarily a result of a decrease in exports of canned tuna and related products. In December 2016, one of the two tuna canneries located in America Samoa was closed.

Furthermore, Government spending also decreased, which reflected a continued decline in investment spending by the territorial government. There were major infrastructure projects such as the Satala Power Plant and the Ta’u solar microgrid which by the end of 2016 were complete or almost complete.

 

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2018-08-28T18:00:21+00:00