Samoa is considered a developing country. A nation's level of development is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality and quality of life. As a developing country, Samoa may not be able to provide consistent social services to its citizens. These social services can include things like public education, reliable health care, and law enforcement. Citizens of developing countries may have a lower life expectancy than citizens of developed countries. Every year Samoa exports about US$0.01 billion and imports about US$0.32 billion. 6.6% of the country's population is unemployed. The total number of unemployed in Samoa is 13,048. Government spending on education is 5.7% of GDP. The country's Gini index is 47. Samoa has low equality. The gap between the richest and poorest citizens in this country is palpable. Samoa has a Human Development Index (HDI) of 0.694. Samoa has an upper middle HDI value. This indicates that the majority of citizens will be able to lead a worthwhile life, although some citizens will not be able to attain a high standard of living. The strength of the Legal Rights Index for Samoa is 5. Overall, it is considered to be rather weak – bankruptcy and collateral laws can protect the rights of borrowers and lenders to some extent; Credit information may be sufficient but scarcely available or, conversely, available but not sufficient.
Currency
The currency of Samoa is Samoan tala. The plural form of the word Samoan tala is talas. The symbol used for this currency is T, and it is abbreviated as WST. The Samoan tala is divided into Sene; there are 100 in one tala.
Credit rating
The depth of credit information index for Samoa is 0, which means that information, if any, is scarce, of insufficient details and almost inaccessible.
Central bank
In Samoa, the institution that manages the state's currency, money supply, and interest rates is called Central Bank of Samoa. Locally, the central bank of Samoa is called Faletupe Tutotonu o Samoa. The average deposit interest rate offered by local banks in Samoa is 3%.
Public debt
Samoa has a government debt of 50% of the country's Gross Domestic Product (GDP), as assessed in 2014.
Tax information
The corporate tax in Samoa is set at 27%. Personal income tax ranges from 0% to 27%, depending on your specific situation and income level. VAT in Samoa is 15%, and it is known as Sales Tax.
Finances
The total Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) in Samoa is $997 billion. The Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) per capita in Samoa was last recorded at $5 million. PPP in Samoa is considered to be below average when compared to other countries. Below average PPP indicates that citizens in this country find it difficult to purchase local goods. Local goods can include food, shelter, clothing, health care, personal care, essential furnishings, transportation and communication, laundry, and various types of insurance. Countries with below average PPP are dangerous locations for investments. The total Gross Domestic Product (GDP) in Samoa is 1 billion. Based on this statistic, Samoa is considered to have a small economy. Countries with small economies generally support less industries and opportunities for investment. However, worthwhile investment opportunities may be found. The Gross Domestic Product (GDP) per capita in Samoa was last recorded at $0 million. The average citizen in Samoa has very low wealth. Countries with very low wealth per capita often have lower life expectancies and dramatically lower quality of living among citizens. It can be very difficult to find highly skilled workers in countries with very low wealth, as it is difficult for citizens to obtain the requisite education needed for specialized industries. However, labor can be found for very low rates when compared with countries with higher wealth per capita. GDP Annual Growth Rate in Samoa averaged 2% in 2014. According to this percentage, Samoa is currently experiencing modest growth. Countries that are experiencing modest growth offer safe opportunities for investment; their expanding economy indicates that businesses, jobs, and income will expand accordingly