São Tomé and Príncipe - Economy
How is the economy of São Tomé and Príncipe? Based on the information we have, São Tomé and Príncipe has a ower middle-income Central African island economy; falling cocoa production due to drought and mismanagement; joint oil venture with Nigeria; government owns 90% of land; high debt, partly from fuel subsidies; tourism gutted by COVID-19. Key agricultural products in this country include: plantains, oil palm fruit, taro, bananas, fruits, cocoa beans, coconuts, yams, cassava, carrots/turnips (2022).
More about the economy of São Tomé and Príncipe
Labor force 74,000 (2022 est.)
Industrial production growth rate 6.59% (2022 est.)
Industries light construction, textiles, soap, beer, fish processing, timber
Population below poverty line 55.5% (2017 est.)
Taxes and other revenues 26.2% (of GDP) (2017 est.)
Fiscal year
Exchange rates
Currency dobras (STD) per US dollar -
Exchange rates 2022 23.29 (2022 est.)
Exchange rates 2021 20.71 (2021 est.)
Exchange rates 2020 21.507 (2020 est.)
Exchange rates 2019 21.885 (2019 est.)
Exchange rates 2018 20.751 (2018 est.)
Debt - external
Debt - external 31 December 2017 $292.9 million (31 December 2017 est.)
Debt - external 31 December 2016 $308.5 million (31 December 2016 est.)
Reserves of foreign exchange and gold
Reserves of foreign exchange and gold 2022 $48.607 million (2022 est.)
Reserves of foreign exchange and gold 2021 $75.017 million (2021 est.)
Reserves of foreign exchange and gold 2020 $75.288 million (2020 est.)
Current account balance
Current account balance 2022 -$79.437 million (2022 est.)
Current account balance 2021 -$95.248 million (2021 est.)
Current account balance 2020 -$59.595 million (2020 est.)
Public debt
Public debt 2017 88.4% of GDP (2017 est.)
Public debt 2016 93.1% of GDP (2016 est.)
Budget
Revenues $95 million (2019 est.)
Expenditures $102 million (2019 est.)
Budget surplus (+) or deficit (-) -2.4% (of GDP) (2017 est.)
Remittances
Remittances 2022 1.42% of GDP (2022 est.)
Remittances 2021 2.02% of GDP (2021 est.)
Remittances 2020 1.83% of GDP (2020 est.)
Household income
Lowest 10% 2.6%
Highest 10% 32.9% (2017 est.)
Imports
Imports 2022 $219.322 million (2022 est.)
Imports 2021 $201.145 million (2021 est.)
Imports 2020 $160.097 million (2020 est.)
Imports (partners) Portugal 35%, Angola 18%, Togo 13%, China 6%, Italy 5% (2022)
Comodities Imports force refined petroleum, ships, electric generating sets, rice, cars (2022)
Exports
Imports 2022 $219.322 million (2022 est.)
Imports 2021 $201.145 million (2021 est.)
Imports 2020 $160.097 million (2020 est.)
Exports (partners) Netherlands 26%, France 11%, Belgium 11%, Portugal 8%, Angola 6% (2022)
Comodities Exports force cocoa beans, palm oil, gas turbines, integrated circuits, coconut oil (2022)
Real GDP (purchasing power parity)
Real GDP (purchasing power parity) 2022 $781.928 million (2022 est.)
Real GDP (purchasing power parity) 2021 $781.418 million (2021 est.)
Real GDP (purchasing power parity) 2020 $766.853 million (2020 est.)
GDP (official exchange rate) $542.687 million (2022 est.)
Real GDP Per capita
Real GDP per capita 2022 $3,400 (2022 est.)
Real GDP per capita 2021 $3,500 (2021 est.)
Real GDP per capita 2020 $3,500 (2020 est.)
GDP - composition, by sector of origin
Agriculture 11.8% (2017 est.)
Industry 14.8% (2017 est.)
Services 73.4% (2017 est.)
GDP - composition, by end use
Household consumption 81.4% (2017 est.)
Government consumption 17.6% (2017 est.)
Investment in fixed capital 33.4% (2017 est.)
Investment in inventories 0% (2017 est.)
Exports of goods and services 7.9% (2017 est.)
Imports of goods and services -40.4% (2017 est.)
Unemployment rate
Unemployment rate 2022 14.35% (2022 est.)
Unemployment rate 2021 15.41% (2021 est.)
Unemployment rate 2020 15.37% (2020 est.)
Youth unemployment rate (ages 15-24)
Total 22.9% (2021 est.)
Male 18%
Female 34.3%
All Important Facts about São Tomé and Príncipe

Want to know more about São Tomé and Príncipe? Check all different factbooks for São Tomé and Príncipe below.

São Tomé and Príncipe is found in Middle Africa