American Samoa Import Data

American Samoa's Import/Export Overview and Market Analysis for 2023

Imports & Exports

• Top Trade Partners: American Samoa's primary trading partners include the United States, New Zealand, and Australia, reflecting the territory's close economic ties with these regions.

• Top 5 Imports: Leading imports consist of fuel, food products, machinery, vehicles, and clothing, which collectively account for over 70% of total imports, demonstrating a reliance on external goods for basic needs and infrastructure support.

• Top 5 Exports: American Samoa's major exports include canned tuna, fish, and other seafood products, which make up over 90% of total exports, highlighting the significance of the fishing industry to the local economy.

• Trade Balance: The territory experiences a significant trade deficit, largely due to the high volume of imports required to support the local market and infrastructure, compared to its export capability.

• Trade Policies: American Samoa benefits from special trade agreements with the U.S., including tariff-free access for certain goods, which aims to promote local industries and reduce the trade deficit.

Market Conditions

• Consumer Spending: Consumer spending is robust, driven by wages and government assistance, but faces challenges from rising living costs and inflationary pressures.

• Interest Rates & Inflation: Interest rates follow U.S. Federal Reserve trends, impacting borrowing costs and investment rates. Inflation has been on the rise, affecting the cost of living and household budgets.

• Supply Chain Dynamics: Supply chain disruptions, exacerbated by global events, have led to intermittent shortages and increased prices for imported goods, affecting both businesses and consumers.

• Sector Performance: The fishing sector, particularly tuna canning, remains the backbone of the economy. Tourism, agriculture, and small-scale manufacturing also contribute to economic activity, albeit with varying degrees of resilience.

Overall Outlook

American Samoa's economy, while facing challenges such as high trade deficits and inflation, is supported by key industries like tuna processing. Ongoing efforts to diversify the economy and enhance local production could improve trade balances and strengthen its economic foundation in the long term, aligning with global trends and leveraging its unique geographical advantages.