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Samoa Business

Business

Agriculture, mainly cultivation and processing of coconuts, has largely determined the development of business. Often tropical storms have destroyed harvests and infrastructure and led to a sharp decline in exports. Fluctuating prices in the world market for copra and cocoa have also created problems. The government of Samoa seeks foreign investment, mainly for export-oriented industry and tourism. Agriculture accounts for 2/3 of employment, and self-sufficiency is still common. For domestic consumption, breads, jams, corn and tropical fruits are mainly grown. The important barley crops are coconuts, cocoa, taro, bananas and coffee. During the late 1990s, the fishing industry expanded significantly and accounts for an important part of export revenues.

Business of Samoa

In 1995, a Japanese-owned factory was opened for the production of car parts in Samoa. This is the most dominant industrial workplace in the country. Most other industries are small and produce products from coconuts, wood, leather and tobacco as well as simple metal products, building materials and food. Complementing traditional exports of agricultural products and timber are textile products and steel wire, which are manufactured exclusively for export.

According to COUNTRYAAH, the most important trading partners are New Zealand, Australia and the United Kingdom. The constant current account deficit is partially offset by Samoan guest workers' home-sent money and income from growing tourism. Samoa has also received assistance from a number of countries, primarily Japan and the United States. The capital Apia has the largest port and the international airport. During the 00s, tourism has increased and now it brings in more income than commodity exports.

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