There was a slight drop in remittances from American Samoa in Fiscal Year 2023 compared to the year before.
The Office of Financial Institutions reported in the Governor’s State of the Territory address a total of $42,112,601 in remittances from American Samoa in Fiscal Year 2023 compared to $43,093,058 in Fiscal Year 2022.
For FY2023, $33.9 million in money transfers were to foreign countries, while $8.1 million was sent to the United States.
For foreign remittances, the month with the highest amount sent out was March which recorded $3.6 million, while under the US remittance table the highest amount was in May with $920,543.
For FY 2022 the total foreign remittances was $36.5 million, while US remittances was $6.5 million.
The report does not give a breakdown of the foreign countries that remittances from American Samoa were sent to.
