Sao Tome & Principe

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 and Principe 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 and Principe 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, the government 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 and Principe’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 the country’s receipt of more than $20 million in signing bonuses for almost a year.

$316.9 million (2010 est.)

$299 million (2009 est.)

$287.5 million (2008 est.)

$187 million (2010 est.)

6% (2010 est.)

4% (2009 est.)

5.8% (2008 est.)

$1,800 (2010 est.)

$1,700 (2009 est.)

$1,700 (2008 est.)

52,490 (2007)

NA%

54% (2004 est.)

41% of GDP (2010 est.)

13% (2010 est.)

16.7% (2009 est.)

16% (31 December 2009)

28% (31 December 2008)

32.4% (31 December 2009 est.)

32.4% (31 December 2008 est.)

$17.18 million (31 December 2010 est)

$19.1 million (31 December 2009 est)

$82.2 million (31 December 2009)

$64.79 million (31 December 2008)

$17.14 million (31 December 2010 est.)

$16.57 million (31 December 2009 est.)

$NA

cocoa, coconuts, palm kernels, copra, cinnamon, pepper, coffee, bananas, papayas, beans; poultry; fish

light construction, textiles, soap, beer, fish processing, timber

7% (2010 est.)

19 million kWh (2007 est.)

17.67 million kWh (2007 est.)

0 kWh (2008)

0 kWh (2008 est.)

0 bbl/day (2009 est.)

1,000 bbl/day (2009 est.)

0 bbl/day (2007 est.)

726 bbl/day (2007 est.)

0 bbl (1 January 2010 est.)

0 cu m (2008 est.)

0 cu m (2008 est.)

0 cu m (2008 est.)

0 cu m (2008 est.)

0 cu m (1 January 2010 est.)

-$73 million (2010 est.)

-$49 million (2009 est.)

$13 million (2010 est.)

$10 million (2009 est.)

cocoa 80%, copra, coffee, palm oil

UK 32.99%, Netherlands 26.93%, Belgium 21.04%, Portugal 4.31% (2009)

$99 million (2010 est.)

$80 million (2009 est.)

machinery and electrical equipment, food products, petroleum products

Portugal 58.9%, Brazil 6.68%, US 4.71%, Japan 4.49% (2009)

$46 million (31 December 2010 est.)

$39 million (31 December 2009 est.)

$318 million (2002)

dobras (STD) per US dollar - 19,641 (2010), 16,000 (2009), 14,900 (2008), 13,700 (2007), 12,050 (2006)