Sao Tome and Principe Profile:
- Sao Tome and Principe, officially the Democratic Republic of Sao Tome and Principe, is an island nation in the Gulf of Guinea.
- Sao Tome and Principe finished 11th out of the African countries measured by the Ibrahim Index of African Governance in 2010
- Other than agriculture, the main economic activities are fishing and a small industrial sector engaged in processing local agricultural products and producing a few basic consumer goods.
- Despite some improvements in education and access to healthcare, Sao Tome, and Principe has much to do to decrease its high poverty rate, create jobs, and increase its economic growth.
- Considerable potential exists for the development of a tourist industry, and the government has taken steps to expand facilities in recent years
Sao Tome and Principe Economy:
- Sao Tome and Principe are small and 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 have to import fuels, most manufactured goods, consumer goods, and food, making it vulnerable to fluctuations in global commodity prices.
- Sao Tome and Principe ideal for sugar cultivation followed later by cash crops such as coffee and cocoa; the lucrative plantation economy was heavily dependent upon imported African slaves.
- The IMF in late 2016 expressed concern about the country’s banking sector vulnerabilities.
- Maintaining control of inflation, fiscal discipline, and increasing flows of foreign direct investment into the nascent oil sector are major economic problems facing the country
Sao Tome and Principe Facts:
- Population: 201,025
- Capital: Sao Tome
- Largest city: Sao Tome
- Area: 964 sq km
- Major language: Portuguese 98.4% (official), Forro 36.2%, Cabo Verdian 8.5%, French 6.8%, Angolar 6.6%, English 4.9%, Lunguie 1%, other 2.4%
- Major religion: Catholic 55.7%, Adventist 4.1%, Assembly of God 3.4%, New Apostolic 2.9%, Mana 2.3%, Universal Kingdom of God 2%, Jehovah’s Witness 1.2%, other 6.2%
- Life expectancy: 63.9 years (Male), 66.7 years (Female)
- Monetary unit: 1 Dobra(STD) = 100 Centavos
- Main exports: Cocoa 80%, copra, coffee, palm oil
- GNI per Capita: $3,250
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