Welcome to the Central Bank of Samoa

The Central Bank of Samoa is the nation's reserve bank and, as such, it acts as a bank to the Government and the commercial banks.

What's New

REQUEST FOR PROPOSALS

CENTRAL BANK OF SAMOA ULULOLOA OFFSITE BUILDING AND CIVIL CONSTRUCTION WORKS

STATE OF SAMOA’S ECONOMY AND OUTLOOK FOR FY2022/2023

Current economic performance: According to the latest National Accounts data from the Samoa Bureau of Statistics, total goods and services produced (called Gross Domestic Product or GDP) in the year up to June 2022 (fiscal year 2021/2022) amounted to around SAT$1.85 billion (real GDP), which was 6.0 percent lower than the twelve months to June 2021 (FY 2020/2021). This marks three consecutive years of negative growth with FY 2019/2020 falling by -3.1 percent, FY 2020/2021 decreasing by -7.1 percent and now another -6.0 percent in FY 2021/2022. The cause of this prolonged recession in the Samoan economy started with the Measles Outbreak in the December 2019 quarter, which was then followed by the COVID-19 pandemic in the March 2020 quarter right up to the June 2022 quarter. The international border lockdown and other self-isolation measures to safeguard the people of Samoa from COVID-19, resulted in a substantial economic loss of real GDP (of approximately SAT$234.0 million) from April 2019 - March 2020 to April 2020 - March 2021, and a further SAT$57.3 million drop to April 2021 - March 2022.

CBS ACCOMMODATIVE MONETARY POLICY STANCE REMAINS UNCHANGED FOR FY2022/2023

At its Meeting on the 1st of July 2022, the Central Bank Board approved the continuation of its accommodative monetary policy stance in the financial year 2022/23.

Key Statistics

October 2022

Official Interest Rate 0.18%
Commercial Banks Lending rates 8.28%
Commercial Banks Deposit rates 1.85%
Headline Inflation Rate 11.3%
Official International Reserves SAT$785.3M
Import Cover (Good only) 9.0 months

Real GDP
2017/18 SAT$2,097M (-6.0%)
2018/19 SAT$2,191M (+4.5%)
2019/20SAT$2,123M (-3.1%)
2020/21 SAT$1,972M (-7.1%)
2021/22 SAT$1,853M (-6.0%)

Nominal GDP

2017/18 SAT$2,254M (+0.5%)
2018/19 SAT$2,390M (+6.0%)
2019/20 SAT$2,344M (-1.9%)
2020/21 SAT$2,169M (-7.5%)
2021/22 SAT$2,169M (-0.2%)

Nominal GDP Per Capita
2017/18 SAT$11,162per person
2018/19 SAT$11,947per person
2019/20 SAT$11,625 per person
2020/21 SAT$10,670 per person
2021/22 SAT$10,583 per person

Daily Exchange Rates

Friday 27, January 2023

Midrate:
SAT/USD - 0.37647 Per SAT $1

Comm Banks Outer Limit T/T per SAT$1
SAT/USD:
Sell - 0.36797 Buy - 0.38497