Econ Census: $1Billion+ in sales generated in 2012
Just over $1 billion in sales were generated in the year 2012 from the more than 300 business establishments in American Samoa surveyed for the 2012 Economic Census, according to data released yesterday by the U.S. Census Bureau for the 2012 American Samoa Economic Census.
The 2012 census includes, for the first time, capital expenditures statistics collected for American Samoa, which totaled $73.4 million, according to the Census Bureau in a national news release. The release also says, “The new data will help provide more complete input to the calculation of the gross domestic product (GDP).”
Official results of the economic census, which is conducted every five years, are scheduled to be released locally today by the American Samoa Commerce Department in a news conference that will be attended by Lee R. Wentela, branch chief of the Census Bureau Economic Census Branch.
Wentela will present the findings of the economic census and the highlights will cover sales, payroll, employment and other economic characteristics of local industries.
According to the Census Bureau, the statistics for 2012 are not comparable to 2007 because only firms with paid employees are included in the 2012 Economic Census, whereas in 2007 firms without paid employees were also included.
In 2007, more than 99% of all sales were from businesses with paid employees, it says. (Census statistics for 2007 show the territory’s entire economy generated almost $1.3 billion in sales.)
For 2012, the territory recorded 377 business establishments, which generated just over $1.15 million in sales; employed 7,070 paid employees (up to Mar. 12 of that year); and paid $114.04 million in annual payroll.
It also says that operating expenses totaled $243.07 million while $10.55 million went to payroll taxes and other legally required employee benefits.
Among the highlights of the report is that American Samoa had 55 businesses with 20 or more employees in 2012, representing 14.6% of all businesses. And these businesses accounted for 83.2% (or $960 million) of total sales and 75.7% (or 5,350) of total employment.
According to Census statistics, ‘Retail Trade’ had the highest number of business establishments in the territory at 136, with 1,435 paid employees, generating close to $210 million in sales. The annual payroll stands at $17.24 million.
Data also shows that ‘Wholesale Trade’ business establishments generated the highest value of sales, or receipts, totaling $275.15 million with 253 paid employees working for 16 establishments, and an annual payroll of $4.6 million.
The second highest category for value of sales, is the “Merchant Wholesalers, non durable goods” industry with $274.94 million, covering 15 businesses with an annual payroll at $4.57 million. There were 250 paid employees in this industry.
Census Bureau described “Nondurable goods” as items with a normal life expectancy of less than three years.
For the growing construction industry, Census Bureau provided two separate sectors. The one for just “Construction” has 20 business establishments with revenues generated at $31.40 million with 432 employees and an annual payroll of $5.43 million.
This sector, says the Census Bureau, comprises establishments primarily engaged in the construction of buildings or engineering projects (e.g., highways and utility systems).
Additionally, these are establishments primarily engaged in the preparation of sites for new construction and establishments primarily engaged in subdividing land for sale as building sites also are included in this sector.
The second sector is called “Construction of Buildings”, which has ten establishments, generating $22.25 million in revenues; an annual payroll of $3.28 million and 260 employees.
The 'Construction of Buildings' sub sector comprises establishments primarily responsible for the construction of buildings. The work performed may include new work, additions, alterations, or maintenance and repairs. Establishments in this sub sector are classified based on the types of buildings they construct, according to the Census Bureau.
Online details of the 2012 Census can be found at: www.census.gov