Samoa has a small population of around 192,000, a narrow resource base, and is geographically isolated.
Samoa graduated from least developed country status in 2014. Although its small and developing economy has performed well in recent years, the country still has economic difficulties.
The economy relies on development aid, family remittances from overseas, tourism, agriculture and fishing. Samoa has a large trade deficit. Its indigenous exports consist mainly of fish and agriculture products, but their proportion of GDP has declined in recent decades. Economic growth has slowed to 1–2% in recent years, and external debt is over 50% of GDP, which affects Samoa’s ability to respond to economic shocks, including from natural disasters such as storms, earthquakes, tsunamis and cyclones.
Samoa and Australia have an enduring and co-operative relationship based on political, security, economic and personal connections. Australia is the largest destination for Samoan merchandise exports and is Samoa's fifth largest source of merchandise imports.