What is the Samoa tala (WST)?

Credit Ratings & Outlook

Sovereign credit ratings play an important part in determining a country’s access to international capital markets, and the terms of that access. Sovereign ratings help to foster dramatic growth, stability, and efficiency of international and domestic markets.

GDP

In 2010 the total GDP was $573,509,396 in US Dollars, while the per capita GDP was $3,116. It grew by 1.71% over the previous year.

Unemployment

The latest unemployment rate for 2001 is 5.00%.

Consumer Price Index

The latest consumer price index for 2010 is 130.88.

Political Structure

The current head of the government is Prime Minister Tuilaepa Aiono Sailele Malielegaoi, and the head of state is O le Ao o le Malo Tufuga Efi (in a ceremonial role).

Currency Details

The Samoan tala is a currency used in the Oceanic nation of Samoa. One Samoan tala can be divided into 100 seniti . The names are Samoan pronunciations of English dollar and cent .

Travel Notes

Government regulations forbid bringing Samoan tala outside of Samoa. Thus, you will not be able to obtain any Tala prior to your arrival in Samoa. Although there is a bureau de change at the airport, you should find that you get a better rate at the Bank of Western Samoa in Apia.

Sovereign Ratings for Samoa

Samoa is not rated.

What does it look like?

Political Structure

The political system of Samoa is a constitutional monarchy under a native chief. The government is divided into three branches: the executive, the legislative, and the judicial branches. Within the executive branch the chief of state is the native chief. Upon the death of the native chief, a new chief of state will be elected by the Legislative assembly to serve a five-year term. The acting head of government is the prime minister who is appointed by the chief of state with the approval of the Legislative Assembly. The cabinet consists of 12 members whom are all appointed by the chief of state with the prime minister’s advice. The legislative branch is a unicameral Legislative Assembly or Fono, which is made up of 49 seats. Only chiefs may stand for election to the fono for five-year terms. The judicial branch is made up of both the Supreme Court and Court of Appeal.

Prominent Figures

Chief of State TUIATUA Tupua Tamasese Efi (since 20 June 2007) Head of Government Prime Minister Sailele Malielegaoi TUILA’EPA (since 1998); Deputy Prime Minister MISA Telefoni (since 2001) Cabinet Cabinet consists of 12 members appointed by the chief of state on the prime minister’s advice Elections chief of state is elected by the Legislative Assembly to serve a five-year term (no term limits); election last held 15 June 2007 (next to be held in 2012); following legislative elections, the leader of the majority party is usually appointed prime minister by the chief of state with the approval of the Legislative Assembly Election Results TUIATUA Tupua Tamasese Efi unanimously elected by the Legislative Assembly

Key Economic Factors

Economic Overview:

Throughout its history Samoa’s economy has been dependent on development aid, family remittances from overseas, agriculture, and fishing. The country’s geographic location makes it particularly vulnerably to devastating storms. Two-thirds of the labor force and 90% of exports come from agriculture. Manufacturing, for the most part, processes agricultural products. Tourism has expanded, contributing 25% of GDP. The Samoan Government has called for deregulation for the financial sector, encouragement investment, and continued fiscal development. Foreign reserves are in a relatively healthy state as external debt has held stable and inflation is low.

Overview:

Food processing, building materials, and auto parts

Export Commodities:

Fish, coconut oil and cream, copra, taro, automotive parts, garments, and beer.

Import Commodities:

Machinery and equipment, industrial supplies, and foodstuffs.

Major Trading Partners:

Australia, Indonesia, New Zealand, Fiji, and Taiwan.