doing business in samoa
Successfully doing business in Samoa requires knowledge about the country’s economy, business environment, and business regulations. The Samoan Government makes the process of starting a business in Samoa relatively straightforward, but like with all business ventures, guaranteeing your company’s short and long-term success is where it gets challenging.
Samoa has a small but growing economy that is largely dependent on a few key industries. Samoa’s major industries include agriculture, the service sector and manufacturing, and most business opportunities in Samoa still lie within these sectors. The manufacturing sector processes agricultural products for the most part. Agriculture in Samoa makes up 90% of exports, with coconut cream, copra and coconut oil dominating production. Agriculture in Samoa employs approximately two-thirds of the labour force. The flexibility of the labour market is considered a strength for future economic advances in Samoa.
Samoa has a strong trade deficit with the export sector seen as a key contributor to the country’s economic growth. New Zealand is Samoa’s main trade partner, and in 2011, the New Zealand Samoa Trade & Investment Commission was launched by the Samoan Government. The main purpose of the commission is to facilitate and strengthen the flow of trade between Samoa and New Zealand, therefore leading to major economic growth for both countries.
Tourism is the key driver of the service sector in Samoa, which employs about half of the formally employed labour force. Samoa’s largest source of tourism comes from New Zealand, but the country’s natural beauty has also attracted tourists from all around the world. As tourist arrivals continue to grow each year, tourism remains to be one of the most promising sectors of Samoa’s economy.