| Economy | Sao Tome and Principe |
 = Fields  = World Records  = Dictionary  = Bar graph  = Distribution map  = Fields History  = Definitions |
Economy - overview:
|
This small, poor island economy has become increasingly dependent on cocoa since independence in 1975. Cocoa production has substantially declined in recent years because of drought and mismanagement. Sao Tome has to import all fuels, most manufactured goods, consumer goods, and a substantial amount of food. Over the years, it has had difficulty servicing its external debt and has relied heavily on concessional aid and debt rescheduling. Sao Tome benefited from $200 million in debt relief in December 2000 under the Highly Indebted Poor Countries (HIPC) program, which helped bring down the country's $300 million debt burden. In August 2005, Sao Tome signed on to a new 3-year IMF Poverty Reduction and Growth Facility (PRGF) program worth $4.3 million. Considerable potential exists for development of a tourist industry, and the government has taken steps to expand facilities in recent years. The government also has attempted to reduce price controls and subsidies. Potential exists for the development of petroleum resources in Sao Tome's territorial waters in the oil-rich Gulf of Guinea, which are being jointly developed in a 60-40 split with Nigeria, but any actual production is at least several years off. The first production licenses were sold in 2004, though a dispute over licensing with Nigeria delayed Sao Tome's receipt of more than $20 million in signing bonuses for almost a year. Real GDP growth exceeded 6% in 2007, as a result of increases in public expenditures and oil-related capital investment. |
GDP (purchasing power parity):
|
$276.6 million (2008 est.)
$262.1 million (2007)
$247.3 million (2006)
note: data are in 2008 US dollars |
GDP - per capita (PPP):
|
$1,300 (2008 est.)
$1,300 (2007 est.)
$1,300 (2006 est.)
note: data are in 2008 US dollars |
GDP (official exchange rate):
|
$160 million (2008 est.) |
GDP - real growth rate:
|
5.5% (2008 est.)
6% (2007 est.)
6.7% (2006 est.) |
GDP - composition by sector:
|
agriculture: 14.6%
industry: 14.6%
services: 70.8% (2008 est.) |
Investment (gross fixed):
|
36.7% of GDP (2008 est.) |
Population below poverty line:
|
54% (2004 est.) |
Household income or consumption by percentage share:
|
lowest 10%: NA%
highest 10%: NA% |
Distribution of family income - Gini index:
|
void |
Inflation rate (consumer prices):
|
27% (2008 est.) |
Central bank discount rate:
|
28% (31 December 2007) |
Commercial bank prime lending rate:
|
32.4% (31 December 2007) |
Stock of money:
|
$19.99 million (31 December 2007) |
Stock of money - per capita:
|
94 USD per capita |
Stock of quasi money:
|
$33.5 million (31 December 2007) |
Stock of quasi money - per capita:
|
158 USD per capita |
Stock of domestic credit:
|
$31.84 million (31 December 2007) |
Stock of domestic credit - per capita:
|
150 USD per capita |
Labor force:
|
35,050 (1991) |
Labor force participation rate:
|
16.48 % of population |
Labor force - by occupation:
|
note: population mainly engaged in subsistence agriculture and fishing; shortages of skilled workers |
Unemployment rate:
|
NA% |
Budget:
|
revenues: $47.65 million
expenditures: $51.48 million (2008 est.) |
Budget revenues per capita:
|
225 USD per capita |
Public debt:
|
void |
Industries:
|
light construction, textiles, soap, beer, fish processing, timber |
Industrial production growth rate:
|
9.5% (2008 est.) |
Electricity - production:
|
18 million kWh (2006 est.) |
Electricity - production per capita:
|
85 kWh per capita |
Electricity - consumption:
|
16.74 million kWh (2006 est.) |
Electricity - consumption - per capita:
|
79 kWh per capita |
Electricity - exports:
|
0 kWh (2007) |
Electricity - imports:
|
0 kWh (2007 est.) |
Oil - production:
|
0 bbl/day (2007 est.) |
Oil - production per capita:
|
void |
Oil - consumption:
|
660 bbl/day (2006 est.) |
Oil - consumption - per capita:
|
1.13 bbl/year per capita |
Oil - exports:
|
0 bbl/day (2005) |
Oil - imports:
|
659.5 bbl/day (2005) |
Oil - proved reserves:
|
0 bbl (1 January 2006 est.) |
Natural gas - production:
|
0 cu m (2007 est.) |
Natural gas - production per capita:
|
void |
Natural gas - consumption:
|
0 cu m (2007 est.) |
Natural gas - consumption - per capita:
|
void |
Natural gas - exports:
|
0 cu m (2007 est.) |
Natural gas - imports:
|
0 cu m (2007 est.) |
Natural gas - proved reserves:
|
0 cu m (1 January 2006 est.) |
Agriculture - products:
|
cocoa, coconuts, palm kernels, copra, cinnamon, pepper, coffee, bananas, papayas, beans; poultry; fish |
Current account balance:
|
-$71 million (2008 est.) |
Current account balance - per capita:
|
-333 USD per capita |
Exports:
|
$9 million f.o.b. (2008 est.) |
Exports per capita:
|
43 USD per capita |
Exports - commodities:
|
cocoa 80%, copra, coffee, palm oil |
Exports - partners:
|
Netherlands 23.7%, Belgium 23.7%, France 12.9%, US 5.9%, Portugal 4.1% (2007) |
Imports:
|
$91 million f.o.b. (2008 est.) |
Imports per capita:
|
428 USD per capita |
Imports - commodities:
|
machinery and electrical equipment, food products, petroleum products |
Imports - partners:
|
Portugal 62.2%, US 11.6%, Gabon 4.5% (2007) |
Reserves of foreign exchange and gold:
|
$45 million (31 December 2008 est.) |
Reserves of foreign exchange and gold - per capita:
|
212 USD per capita |
Debt - external:
|
$318 million (2002) |
Debt - external - per capita:
|
1,496 USD per capita |
Stock of direct foreign investment - at home:
|
void |
Stock of direct foreign investment - at home - per capita:
|
void |
Stock of direct foreign investment - abroad:
|
void |
Stock of direct foreign investment - abroad - per capita:
|
void |
Market value of publicly traded shares:
|
$NA |
Market value of publicly traded shares - per capita:
|
void |
Economic aid - donor:
|
void |
Economic aid - recipient:
|
$31.9 million in December 2000 under the Heavily Indebted Poor Country Initiative (HIPC) program (2005) |
Economic aid - recipient per capita:
|
150 USD per capita |
Currency (code):
|
dobra (STD) |
Exchange rates:
|
dobras (STD) per US dollar - 14,900 (2008 est.), 13,700 (2007), 12,050 (2006), 9,900.4 (2005), 9,902.3 (2004) |
Fiscal year:
|
calendar year |
|
= Fields = World Records = Dictionary = Bar graph = Distribution map = Fields History = Definitions |
|
Home 
Geographic Names
Chiefs of State
Intl. Organizations
Intl. Environmental Agree.
Other References
