21 Aug 2017

American Samoa sees drop in GDP

7:11 am on 21 August 2017

American Samoa's estimated gross domestic product decreased in 2016, as investment by both the government and private sector declined.

US currency

Photo: Supplied

The US Bureau of Economic Analaysis says the territory's GDP decresed 2.5 percent in 2016, after increasing by 1.2 percent in 2015.

This compared to an overall increase of 1.5 percent in the mainland United States.

The director of the American Samoa Commerce Department, Keniseli Lafaele, said all the components of GDP - personal consumption, private investment, government expenditure and net exports - are down.

Mr Lafaele said a main driver was a decrease in the import of fish to be processed by the territory's canneries, which contributed to a sharp drop in exports.

He blamed the impact of the federal government's expansion of marine sanctuaries and fisheries restrictions.

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