Economic valuation of the terrestrial and marine resources of Samoa / by Mohd-Shahwahid, H.O.

Abstract

The Gross Domestic Product (GDP) provides an indicator of the growth of the economy of a nation. The GDP for Samoa in 1999 was estimated to be ST$718.4 million at current market prices, of which agriculture, fishing and indirectly tourism are the main sectors of the economy. These sectors are directly and indirectly dependent on the natural resources. Yet, the essential role played by these resources to the economy is not explicitly known since many of their services are not transacted through formal markets and in some cases markets do not exist to permit payments for their utilisation. The Samoan national government has identified the need to incorporate the economic values of these natural resources into the National Bio-diversity Strategy and Action Plan (NBSAP) with the aim of integrating biodiversity conservation with policy planning. With this in mind, research on the economic valuation of the marine and terrestrial resources, particularly forests, of Samoa was conducted from October 10 to November 24, 2000 and the findings are provided in this report.