The estimates of Gross Domestic Product for American Samoa for 2018 released today by the Bureau of Economic Analysis show that real GDP—GDP adjusted to remove price changes—increased 2.2 percent in 2018 after decreasing 5.8 percent in 2017.
For comparison, real GDP for the United States (excluding the territories) increased 2.9 percent in 2018 after increasing 2.4 percent in 2017.
The growth in the American Samoa economy reflected increases in private fixed investment and in exports of goods that were partly offset by a decrease in inventory investment.
Private fixed investment increased 7.7 percent, largely due to reconstruction and major repairs of homes and businesses that were destroyed or heavily damaged from Tropical Cyclone Gita.
Exports of goods increased 15 percent, primarily reflecting an increase in exports of canned tuna and related products.
The Director of the US Bureau of Economic Analysis, Brian Moyer, is currently visitng the territory to present the GDP estimates.
He spoke at a cabinet meeting at Tafuna Elementary’s new gymnasium this monirng about the main drivers of the GDP estimates.
Play AudioMoyer
Click here for the full BEA Press Release https://www.bea.gov/news/2019/american-samoa-gdp-increases-2018
