The Samoan economy is thus gradually ‘catching up’ with that of Tonga. External accounts were characterised by large trade deficits throughout the 1990s, large net private transfer flows and a generally negative current account balance. The two years of negative growth reflected the impact of the global financial crisis and a consequent fall in remittances, a decline in tourism receipts, static exports (especially the decline of squash) and the impact of the 2009 tsunami in northern Tonga.