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    Sao Tome and Principe Economy 1997

    https://photius.com/wfb1997/sao_tome_and_principe/sao_tome_and_principe_economy.html
    SOURCE: 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
      agriculture : 28%
      industry: 14%
      services: 58% (1994 est.)

      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
      revenues: $58 million
      expenditures: $114 million, including capital expenditures of $54 million (1993 est.)

      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
      total value: $7.8 million (f.o.b., 1995 est.)
      commodities: cocoa 85%-90%, copra, coffee, palm oil
      partners: Netherlands 75.7%, Germany 1.2%, Portugal 1.1%

      Imports
      total value : $26.2 million (c.i.f., 1995 est.)
      commodities: machinery and electrical equipment, food products, petroleum products
      partners: Portugal 32.2%, France 16.8%, Belgium 6.6%, Japan, Angola

      Debt - external $250 million (1995 est.)

      Economic aid
      recipient: ODA, $NA

      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.

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