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EMBARGOED UNTIL RELEASE AT 2:00 P.M. EST, Tuesday, November 30, 2021 Technical: Media: Christina Hovland (BEA) Jeannine Aversa (BEA) Tanya Harris Joshua (OIA) (301) 278-9076 (301) 278-9003 (202) 208-6008 BEA 21–60 Territories@bea.gov Jeannine.Aversa@bea.gov Tanya_Joshua@ios.doi.gov Gross Domestic Product for American Samoa, 2020 Gross Domestic Product by Industry and Compensation by Industry, 2019 Real gross domestic product (GDP) for American Samoa increased 4.0 percent in 2020 after decreasing 0.6 percent in 2019 (table 1.3), according to statistics released today by the U.S. Bureau of Economic Analysis (BEA). These statistics were developed under the Statistical Improvement Program funded by the Office of Insular Affairs (OIA) of the U.S. Department of the Interior. GDP for 2020 The increase in real GDP reflected widespread growth among the major components of GDP including exports, private inventory investment, and government spending (table 1.4). These increases were partly offset by an increase in imports, which is a subtraction item in the calculation of GDP. American Samoa: Contributions to the Percent Change in Real GDP, 2020 Percentage points 9.0 6.0 4.0% 3.0 3.49 0.60 4.79 6.03 0.95 0.0 –3.0 –6.0 –9.0 –12.0 –15.0 –11.91 GDP Personal Private fixed consumption investment expenditures Private inventory investment Government spending Note. Imports are a subtraction item. Thus, an increase in imports results in a negative contribution to GDP. U.S. Bureau of Economic Analysis Exports Imports How to Interpret Contributions to Percent Change in Major GDP Components There is often interest in how much a specific GDP component contributes to the change in real GDP. BEA publishes this measure in news release table 1.4. The chart above shows both the percent change of total real GDP and the contributions (in percentage points) of each major component to that change. For example, exports accounted for 6.03 percentage points of the 4.0 percent increase in real GDP in 2020. This means, all else equal, had exports neither increased nor decreased in 2020, real GDP would have decreased 2.0 percent. Activity related to the tuna canning industry was a significant source of growth in the American Samoa economy. The canning industry’s operations in American Samoa were less affected by the COVID-19 pandemic in comparison to other parts of the world. Exports of goods increased 15.5 percent, reflecting an increase in exports of canned tuna and related products. Private inventory investment increased, reflecting growth in supplies held by the tuna canning industry. Government spending increased 10.1 percent; the increase was accounted for by growth in territorial government spending. Spending by the American Samoa government was supported by federal grant revenues, including Coronavirus Relief Fund payments. COVID-19 Impact on the 2020 American Samoa GDP Estimate According to the World Health Organization, there were zero confirmed cases of COVID-19 in American Samoa in 2020. The American Samoa economy was affected by the government response to the global COVID-19 pandemic. The territorial government instituted a number of restrictions, such as border closures, and the federal government passed several laws to support and sustain businesses and individuals through the pandemic. However, the full effects of the pandemic cannot be quantified in BEA’s statistics for American Samoa because the impacts are generally embedded in the data sources used to estimate the components of GDP. GDP by industry and compensation by industry for 2019 In 2019, GDP declined by 0.6 percent. The newly available GDP by industry data, which are released on a 1-year lag, reveal that the 2019 GDP decline was the result of a decline in the private sector that was partly offset by an increase in the public sector (table 2.5). The contraction in the private sector reflected declines in both manufacturing and nonmanufacturing. Manufacturing value added decreased 4.7 percent (table 2.4), reflecting decreased cannery output. Nonmanufacturing value added decreased 1.0 percent, largely reflecting decreases in industries that had previously supported reconstruction activities associated with Tropical Cyclone Gita. The government sector increased 2.1 percent, primarily reflecting increases in compensation of territorial government employees and operating surplus of territorial government enterprises. Total compensation increased in 2019, reflecting growth in manufacturing industries and in the territorial government sector (table 2.6). -2- The accompanying news release tables present estimates for GDP and its major components, GDP by industry, compensation by industry, and estimates of gross domestic income. Updates to GDP and Related Estimates Estimates for 2018 and 2019 that were released on December 11, 2020, have been revised to incorporate updates to source data, including the following: • Value of imported goods by type from the American Samoa Department of Commerce, • Number of visitor arrivals from the American Samoa Department of Commerce, • The American Samoa Department of Commerce Statistical Yearbook, • Audited financial statements for the American Samoa Government and its independent agencies, and • Wage and employment information from the U.S. Census Bureau County Business Patterns. The revised estimates exhibit a pattern of inflation-adjusted GDP growth similar to the previously published estimates (table 1.7). For more information on the data sources underlying these estimates, see the appendix in “Territorial Economic Accounts for American Samoa, the Commonwealth of the Northern Mariana Islands, Guam, and the U.S. Virgin Islands.” Next release: Summer 2022 Gross Domestic Product for American Samoa, 2021 American Samoa GDP by Industry and Compensation by Industry, 2020 -3- Additional Information Resources • • • • American Samoa production of goods and services that is provided to the rest of the world. Imports measures the portion of total American Samoa expenditures that is accounted for by goods and services provided by the rest of the world. Stay informed about BEA developments by reading The BEA Wire, signing up for BEA’s email subscription service, or following BEA on Twitter @BEA_News. Historical time series for gross domestic product for the U.S. territories can be accessed at BEA’s website. For more on BEA’s statistics, see our monthly online journal, the Survey of Current Business. For upcoming economic indicators, see BEA’s news release schedule. Government consumption expenditures and gross investment, or “government spending,” measures the portion of GDP that is accounted for by the government sector. Government consumption expenditures consists of spending by government to produce and provide services to the public. Gross investment consists of spending by government for fixed assets that directly benefit the public or that assist government agencies in their production activities. Definitions Gross domestic income (GDI) is the sum of incomes earned and costs incurred in the production of GDP. In national economic accounting, GDP and GDI are conceptually equal. Gross domestic product (GDP) is the value of the goods and services produced by the American Samoa economy less the value of the goods and services used up in production. GDP is also equal to the sum of personal consumption expenditures, private fixed investment, change in private inventories, net exports of goods and services, and government consumption expenditures and gross investment. Current-dollar estimates are valued in the prices of the period when the transactions occurred—that is, at “market value” (also referred to as “nominal estimates” or as “current-price estimates”). Real values are inflation-adjusted estimates—that is, estimates that exclude the effects of price changes. Personal consumption expenditures (PCE) measures the goods and services purchased by “persons”—that is, by households and by nonprofit institutions serving households—who are resident in American Samoa. Statistical conventions Quantities (“real” volume measures) and prices are expressed as index numbers with a specified reference year equal to 100 (currently 2012). Quantity and price indexes are calculated using a Fisher chain-weighted formula that incorporates weights from 2 adjacent years. “Real” dollar series are calculated by multiplying the quantity index by the current-dollar value in the reference year and then dividing by 100. Private fixed investment measures spending by private businesses, nonprofit institutions, and households on fixed assets in the American Samoa economy. Fixed assets consists of structures, equipment, and software that are used in the production of goods and services. Change in private inventories, or “private inventory investment,” is a measure of the value of the change in the physical volume of the inventories—additions less withdrawals—that businesses maintain to support their production and distribution activities. Chained-dollar values are not additive, because the relative weights for a given period differ from those of the reference year. Net exports of goods and services is the difference between exports of goods and services and imports of goods and services. Exports measures the portion of total -4- List of News Release Tables Table 1.1. Table 1.2. Table 1.3. Table 1.4. Table 1.5. Table 1.6. Table 1.7. Table 2.1. Table 2.2. Table 2.3. Table 2.4. Table 2.5. Table 2.6. Gross Domestic Product Real Gross Domestic Product, Chained Dollars Percent Change from Preceding Year in Real Gross Domestic Product Contributions to Percent Change in Real Gross Domestic Product Percent Change from Preceding Year in Prices for Gross Domestic Product and Price Indexes for Gross Domestic Product Gross Domestic Income Revisions to Percent Change in Real Gross Domestic Product Value Added by Industry Value Added by Industry as a Percentage of Gross Domestic Product Real Value Added by Industry Percent Changes in Real Value Added by Industry Contributions to Percent Change in Real Gross Domestic Product by Industry Compensation of Employees by Industry -5- American Samoa 1. Domestic Product and Income Table 1.1. Gross Domestic Product [Millions of dollars] Line Gross domestic product 2012 2013 2014 2015 2016 2017 2018 2019 2020 1 640 638 643 673 671 612 639 648 709 Personal consumption expenditures Goods Durable goods Nondurable goods Services Net foreign travel 2 3 4 5 6 7 420 183 23 160 246 -9 446 207 25 181 247 -8 463 217 34 183 256 -10 460 214 32 182 256 -10 463 209 30 179 264 -9 471 208 26 182 270 -7 487 214 27 187 277 -3 509 213 29 184 297 -1 513 233 51 182 277 3 Private fixed investment Change in private inventories 8 9 54 0 66 6 72 32 56 23 53 46 54 38 56 -11 46 -4 54 18 Net exports of goods and services Exports Goods Services Imports Goods Services 10 11 12 13 14 15 16 -163 483 457 26 646 588 57 -193 458 435 24 651 591 60 -266 429 402 27 695 625 70 -237 428 401 27 665 596 69 -210 429 401 27 639 571 68 -264 362 336 26 626 552 74 -227 436 410 25 662 573 89 -215 399 377 23 614 546 68 -225 426 421 5 651 593 59 Government consumption expenditures and gross investment Federal Territorial 17 18 19 329 22 306 313 21 292 343 24 319 371 26 345 320 26 294 313 25 288 334 25 310 312 23 289 350 22 328 Note. Detail may not add to total because of rounding. American Samoa Table 1.2. Real Gross Domestic Product, Chained Dollars [Millions of chained (2012) dollars] Line Gross domestic product 2012 2013 2014 2015 2016 2017 2018 2019 2020 1 640 624 635 655 644 599 615 612 636 Personal consumption expenditures Goods Durable goods Nondurable goods Services Net foreign travel 2 3 4 5 6 7 420 183 23 160 246 -9 440 204 25 179 243 -7 451 213 33 180 248 -10 458 211 31 180 255 -9 463 207 29 178 263 -8 460 202 25 176 263 -5 465 203 27 176 264 -2 481 201 28 173 279 0 485 221 48 173 260 3 Private fixed investment Change in private inventories 8 9 54 0 63 6 67 33 51 28 48 56 48 43 48 -11 39 -5 44 22 Net exports of goods and services Exports Goods Services Imports Goods Services 10 11 12 13 14 15 16 -163 483 457 26 646 588 57 -192 481 458 23 673 614 59 -250 503 477 26 753 686 67 -239 540 515 26 780 713 67 -222 534 508 26 755 688 67 -251 417 393 24 668 595 71 -191 473 451 22 664 581 81 -181 448 428 20 628 566 61 -218 493 495 4 712 658 55 Government consumption expenditures and gross investment Federal Territorial 17 18 19 329 22 306 308 21 287 331 23 308 359 25 333 309 25 284 297 24 273 304 23 282 278 21 258 306 20 287 American Samoa Table 1.3. Percent Change from Preceding Year in Real Gross Domestic Product [Percent] Line Gross domestic product 2013 2014 2015 2016 2017 2018 2019 2020 1 -2.5 1.6 3.3 -1.8 -6.9 2.7 -0.6 4.0 Personal consumption expenditures Goods Durable goods Nondurable goods Services Net foreign travel 2 3 4 5 6 7 4.7 11.3 10.4 11.5 -1.0 …….. 2.7 4.7 32.2 0.9 2.0 …….. 1.4 -1.0 -5.8 -0.2 3.1 …….. 1.1 -1.7 -5.8 -1.0 3.1 …….. -0.6 -2.9 -13.3 -1.1 -0.2 …….. 1.1 0.7 5.0 0.1 0.2 …….. 3.5 -0.8 6.5 -1.9 6.0 …….. 0.8 9.5 71.4 -0.4 -6.9 …….. Private fixed investment Change in private inventories 8 9 15.7 …….. 6.1 …….. -23.4 …….. -7.1 …….. 1.3 …….. -0.4 …….. -19.0 …….. 13.5 …….. Net exports of goods and services Exports Goods Services Imports Goods Services 10 11 12 13 14 15 16 …….. -0.5 0.1 -10.2 4.2 4.3 3.9 …….. 4.8 4.3 12.7 11.9 11.8 12.9 …….. 7.4 7.9 -0.7 3.5 3.9 0.4 …….. -1.2 -1.3 -0.7 -3.1 -3.5 0.0 …….. -21.9 -22.8 -8.3 -11.5 -13.5 6.1 …….. 13.5 14.9 -5.3 -0.6 -2.4 13.0 …….. -5.4 -5.1 -11.4 -5.4 -2.5 -24.1 …….. 10.2 15.5 -78.5 13.3 16.3 -10.1 Government consumption expenditures and gross investment Federal Territorial 17 18 19 -6.4 -4.6 -6.5 7.5 9.9 7.3 8.4 9.5 8.4 -13.9 -1.1 -14.8 -4.0 -4.1 -4.0 2.6 -5.9 3.3 -8.5 -8.8 -8.5 10.1 -5.2 11.3 American Samoa Table 1.4. Contributions to Percent Change in Real Gross Domestic Product Line Percent change: Gross domestic product Percentage points: Personal consumption expenditures Goods Durable goods Nondurable goods Services Net foreign travel 2013 2014 2015 2016 2017 2018 2019 2020 1 -2.5 1.6 3.3 -1.8 -6.9 2.7 -0.6 4.0 2 3 4 5 6 7 3.06 3.23 0.37 2.86 -0.37 0.21 1.92 1.55 1.29 0.25 0.77 -0.40 1.01 -0.34 -0.30 -0.04 1.20 0.16 0.72 -0.53 -0.27 -0.26 1.16 0.10 -0.45 -0.91 -0.60 -0.31 -0.06 0.53 0.86 0.25 0.21 0.03 0.11 0.51 2.63 -0.27 0.27 -0.54 2.57 0.32 0.60 3.05 3.15 -0.10 -3.08 0.63 Private fixed investment Change in private inventories 8 9 1.35 0.90 0.64 4.05 -2.62 -0.67 -0.58 3.37 0.11 -1.66 -0.03 -8.20 -1.67 1.01 0.95 3.49 Net exports of goods and services Exports Goods Services Imports Goods Services 10 11 12 13 14 15 16 -4.50 -0.34 0.07 -0.41 -4.16 -3.81 -0.35 -8.70 3.24 2.76 0.48 -11.94 -10.70 -1.24 1.07 4.69 4.72 -0.03 -3.63 -3.59 -0.04 2.28 -0.78 -0.75 -0.03 3.06 3.06 0.00 -2.98 -14.69 -14.35 -0.35 11.72 12.35 -0.64 8.78 8.16 8.39 -0.22 0.62 2.23 -1.61 1.93 -3.62 -3.17 -0.45 5.54 2.21 3.34 -5.88 6.03 8.66 -2.63 -11.91 -12.93 1.02 Government consumption expenditures and gross investment Federal Territorial 17 18 19 -3.26 -0.16 -3.10 3.73 0.33 3.39 4.47 0.35 4.12 -7.58 -0.04 -7.54 -1.95 -0.16 -1.79 1.33 -0.25 1.58 -4.45 -0.34 -4.11 4.79 -0.18 4.97 American Samoa Table 1.5. Percent Change from Preceding Year in Prices for Gross Domestic Product and Price Indexes for Gross Domestic Product Line Gross domestic product Personal consumption expenditures Gross domestic product Personal consumption expenditures 2012 2013 2014 1 17.4 2.1 -0.7 2 4.8 1.5 1.0 3 100.0 4 100.0 2015 1.2 2016 2017 [Percent] 1.6 2018 2019 2020 -2.0 1.7 1.8 5.4 2.2 0.9 0.0 102.1 -2.1 -0.2 2.4 [Index numbers, 2012=100] 101.4 102.6 104.3 102.2 103.9 105.8 111.5 101.5 102.5 104.8 105.8 105.8 100.4 100.1 102.5 Table 1.6. Gross Domestic Income [Millions of dollars] Line Gross domestic income 2012 2013 2014 2015 2016 2017 2018 2019 2020 1 640 638 643 673 671 612 639 648 709 Compensation of employees 2 272 277 294 308 311 294 301 309 …….. Taxes on production and imports less subsidies 3 25 26 28 26 27 24 34 35 …….. Gross operating surplus 4 343 335 321 339 333 294 304 304 …….. Note. Detail may not add to total because of rounding. Table 1.7. Revisions to Percent Change in Real Gross Domestic Product Line 2013 2014 2015 2016 2017 2018 2019 Percent change: Revised Previously published 1 2 -2.5 -2.5 1.6 1.6 3.3 3.3 -1.8 -1.8 -6.9 -6.9 2.7 3.3 -0.6 -1.4 Percentage points: Revision 3 0.0 0.0 0.0 0.0 0.0 -0.6 0.8 American Samoa 2. GDP by Industry Table 2.1. Value Added by Industry [Millions of dollars] Line Gross domestic product 2012 2013 2014 2015 2016 2017 2018 2019 1 640 638 643 673 671 612 639 648 Private industries Manufacturing Nonmanufacturing 2 3 4 446 89 356 447 93 354 455 77 378 477 94 384 475 92 383 420 67 353 443 89 354 442 79 363 Government Federal Territorial 5 6 7 194 17 177 190 18 172 188 18 171 195 18 177 196 18 178 193 18 175 196 18 178 206 19 187 Note. Detail may not add to total because of rounding. Table 2.2. Value Added by Industry as a Percentage of Gross Domestic Product [Percent] Line Gross domestic product 2012 2013 2014 2015 2016 2017 2018 2019 1 100 100 100 100 100 100 100 100 Private industries Manufacturing Nonmanufacturing 2 3 4 70 14 56 70 15 55 71 12 59 71 14 57 71 14 57 69 11 58 69 14 55 68 12 56 Government Federal Territorial 5 6 7 30 3 28 30 3 27 29 3 27 29 3 26 29 3 27 32 3 29 31 3 28 32 3 29 Note. Detail may not add to total because of rounding. American Samoa Table 2.3. Real Value Added by Industry [Millions of chained (2012) dollars] Line Gross domestic product 2012 2013 2014 2015 2016 2017 2018 2019 1 640 624 635 655 644 599 615 612 Private industries Manufacturing Nonmanufacturing 2 3 4 446 89 356 439 88 351 457 91 366 477 105 373 466 104 364 424 83 341 444 97 348 436 92 345 Government Federal Territorial 5 6 7 194 17 177 186 18 168 178 17 161 179 17 162 178 17 161 174 16 158 172 16 155 176 16 159 Table 2.4. Percent Changes in Real Value Added by Industry [Percent] Line Gross domestic product 2013 2014 2015 2016 2017 2018 2019 1 -2.5 1.6 3.3 -1.8 -6.9 2.7 -0.6 Private industries Manufacturing Nonmanufacturing 2 3 4 -1.6 -1.5 -1.6 4.2 3.0 4.4 4.4 16.3 1.9 -2.3 -1.5 -2.5 -8.9 -20.2 -6.3 4.6 16.6 2.2 -1.7 -4.7 -1.0 Government Federal Territorial 5 6 7 -4.5 5.0 -5.4 -4.1 -4.0 -4.2 0.5 -1.3 0.7 -0.5 1.7 -0.7 -2.2 -4.9 -1.9 -1.3 0.4 -1.5 2.1 -1.4 2.5 American Samoa Table 2.5. Contributions to Percent Change in Real Gross Domestic Product by Industry Line Percent change: Gross domestic product (GDP) Percentage points: Private industries Manufacturing Nonmanufacturing Government Federal Territorial 2013 2014 2015 2016 2017 2018 2019 1 -2.5 1.6 3.3 -1.8 -6.9 2.7 -0.6 2 3 4 -1.09 -0.21 -0.88 2.89 0.40 2.49 3.10 1.98 1.11 -1.65 -0.20 -1.45 -6.27 -2.67 -3.61 3.15 1.92 1.23 -1.20 -0.63 -0.57 5 6 7 -1.36 0.13 -1.49 -1.26 -0.11 -1.15 0.16 -0.04 0.19 -0.15 0.05 -0.19 -0.65 -0.14 -0.52 -0.42 0.01 -0.43 0.65 -0.04 0.69 Note. Percentage-point contributions do not sum to the percent change in real gross domestic product because of rounding and differences in source data used to estimate GDP by industry and the expenditures measure of real GDP. Table 2.6. Compensation of Employees by Industry [Millions of dollars] Line 2012 2013 2014 2015 2016 2017 2018 2019 1 272 277 294 308 311 294 301 309 Private industries Manufacturing Nonmanufacturing 2 3 4 104 40 63 105 42 63 116 45 72 124 51 73 128 51 77 118 40 79 127 49 78 131 54 77 Government Federal Territorial 5 6 7 169 16 152 171 17 154 178 17 161 185 17 167 183 18 165 175 17 158 174 18 156 178 18 160 Total compensation Note. Detail may not add to total because of rounding.