Last year was a positive year for Samoa in terms of its Gross Domestic Products according to the data released by the Samoa Bureau of Statistics towards the end of December.

While this was positive growth, there was decline on public administration, agriculture and fisheries.

GDP for the Year ending September 2023 (October 2022 - September 2023) at current market prices was $2,682.9 million (or $2.68 billion), increasing by 20.4 per cent compared to the $2,227.7 million (or $2.23 billion) recorded in the year ending September 2022. At this level, GDP per capita was $12,777 increasing by 18.7 per cent over the previous year ending September 2022.

This was the fifth consecutive quarter of positive outturn following a series of quarterly declines as evidenced of the 2019 pandemic impacts.

The continuous growth were evident in the economy recovering rapidly. The services sector which makes up 65.0 per cent of the economy increased by 22.4 per cent on a year-on-year basis. All eight industries under this sector recorded positive year-on year growths and were also the major contributors to the 14.4 per cent growth in real terms for the current quarter.

This was the only sector that recorded growth in real value added compared to the corresponding quarter of the previous year. Conversely, the goods-producing or secondary sector with a total share of 9.0 per cent of total real GDP decreased its value added by 7.5 per cent compared to the same quarter of 2022.

Public administration which accounts for 8.1 per cent of the economy’s aggregated real GDP recorded a decline in growth of 2.9 per cent in value added on a year-on-year basis. The primary sector which consists of the Agriculture and Fishing industries also recorded a 7.2 per cent share of total real GDP likewise declined in growth by 0.9 per cent compared to September 2022 quarter.

Commerce, the biggest industry in the economy was the largest contributor to total GDP growth in constant terms; it went up by 25.5 per cent with an increase of $32.1 million on a year-on-year basis. This was fuelled by increased retailing and wholesaling activities related to food, beverages, tobacco, stationaries, construction materials and gaseous products.

Business services was the industry with the second biggest increase in real value added of $9.6 million from $5.9 million in September 2022 to $15.5 million in the quarter under review. This translates to a 161.3 per cent growth in the industry on a year-on-year basis in constant terms.

It was one of the hardest hit industries in the previous year when restrictions were strongly observed as well as restrictions to inbound travel which affected the travel and tour counterpart of this industry.