Samoa economy continues to slide

The economic slide continues for Samoa as it grapples with the effects of the global coronavirus pandemic lockdowns, travel restrictions and global control measures reducing trade.

The Samoa Bureau of Statistics latest quarterly report shows the lowest quarterly period of output since March 2015, with the Gross Domestic Product for September 2021 at $459.1-million tālā.

The country's economic output dropped by 0.4 percent in the September 2021 quarter continuing the GDP drop, now in its eighth consecutive decline since December 2019.

The report said this has directly affected many sectors of the economy with retailing and wholesaling activities, food and beverage manufacturing, air and land transport and business services the hardest hit this quarter.

It also reported that commerce has again recorded another decline continuing three consecutive quarters of negative growth.

 

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