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Sao Tome and Principe Economy 1997https://photius.com/wfb1997/sao_tome_and_principe/sao_tome_and_principe_economy.htmlSOURCE: 1997 CIA WORLD FACTBOOK Economy - overview This small poor island economy has become increasingly dependent oncocoa since independence over 20 years ago. However, cocoa production hassubstantially declined because of drought and mismanagement. The resultingshortage of cocoa for export has created a persistent balance-of-paymentsproblem. Sao Tome has to import all fuels, most manufactured goods, consumergoods, and a significant amount of food. Over the years, it has been unableto service its external debt and has had to depend on concessional aid anddebt rescheduling. Considerable potential exists for development of a touristindustry, and the government has taken steps to expand facilities in recentyears. The government also has attempted to reduce price controls and subsidies,but economic growth has remained sluggish. GDP purchasing power parity - $149 million (1995 est.) GDP - real growth rate 2.6% (1995 est.) GDP - per capita purchasing power parity - $1,000 (1995 est.) GDP - composition by sector
Inflation rate - consumer price index 38% (1994 est.) Labor force most of population mainly engaged in subsistence agriculture and fishing;there are shortages of skilled workers Unemployment rate NA% Budget
Industries light construction, textiles, soap, beer; fish processing; timber Industrial production growth rate NA% Electricity - capacity 6,000 kW (1991) Electricity - production 12 million kWh (1991) Electricity - consumption per capita NA kWh Agriculture - products cocoa, coconuts, palm kernels, copra, cinnamon, pepper, coffee, bananas,papaya, beans; poultry; fish Exports
Imports
Debt - external $250 million (1995 est.) Economic aid
Currency 1 dobra (Db) = 100 centimos Exchange rates dobras (Db) per US$1 - 2,500 (November 1996), 1,610 (May 1995), 129.59(1 July 1993), 230 (1992), 260.0 (November 1991) Fiscal year
calendar year
NOTE: The information regarding Sao Tome and Principe on this page is re-published from the 1997 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Sao Tome and Principe Economy 1997 information contained here. All suggestions for corrections of any errors about Sao Tome and Principe Economy 1997 should be addressed to the CIA. |