8 Sep 2012

Bureau of Economic Analysis releases American Samoa figures

9:54 am on 8 September 2012

American Samoa's gross domestic product increased 1.3% in 2010, according to estimates released by the US Bureau of Economic Analysis.

The Bureau for the first time included estimates of GDP by industry, compensation by industry and detailed consumer spending.

Officials from the bureau have been discussing the latest estimates with government officials and the private sector.

The associate Director for National Economic Accounts, Brent Moulton, says the numbers show mixed results for growth in the local economy.

"There was a substantial increase in activity in construction because of the reconstruction efforts after the tsunami. But there was also a decrease in activity"

in the manufacturing sector and exports were down because of the closing of one of the canneries in late 2009.

Exports for 2010 were valued at US$366 million, compared to US$536 million in 2009 while imports were valued at $502 million, also a drop from 2009 when imports were valued at $532 million.