Countries
Sao Tome and Principe
Key Economic Indicators
$1.47 billion
$6,242
1.1%
14.35%
9.13%
$764.274 million (2024 est.)
93.1% of GDP (2016 est.)
$41.5 million
Economic Overview
lower 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
All Economic Data
Agricultural products
plantains, oil palm fruit, taro, bananas, fruits, cocoa beans, yams, coconuts, cassava, vegetables (2023)
note:
<b>note:</b> top ten agricultural products based on tonnage
Budget
Expenditures:
$165.95 million (2022 est.)
Note:
<b>note:</b> central government revenues and expenses (excluding grants/extrabudgetary units/social security funds) converted to US dollars at average official exchange rate for year indicated
Revenues:
$128.767 million (2022 est.)
Currency
code:
STN
name:
São Tomé and Príncipe dobra (STN) [Db]
Current account balance
$41.5 million
Current account balance 2020:
-$59.595 million (2020 est.)
Current account balance 2021:
-$95.248 million (2021 est.)
Current account balance 2022:
-$79.437 million (2022 est.)
Note:
<b>note:</b> balance of payments - net trade and primary/secondary income in current dollars
Debt - external
$326.41 million
Debt - external 2023:
$327.248 million (2023 est.)
Note:
<b>note:</b> present value of external debt in current US dollars
Exchange rates
Currency:
dobras (STD) per US dollar -
Exchange rates 2019:
21.885 (2019 est.)
Exchange rates 2020:
21.507 (2020 est.)
Exchange rates 2021:
20.71 (2021 est.)
Exchange rates 2022:
23.29 (2022 est.)
Exchange rates 2023:
22.658 (2023 est.)
Exports
Exports 2020:
$49.337 million (2020 est.)
Exports 2021:
$75.256 million (2021 est.)
Exports 2022:
$96.977 million (2022 est.)
Note:
<b>note:</b> balance of payments - exports of goods and services in current dollars
Exports - commodities
crude petroleum, cocoa beans, vehicle parts/accessories, palm oil, aircraft parts (2023)
note:
<b>note:</b> top five export commodities based on value in dollars
Exports - partners
Pakistan 54%, Germany 11%, Netherlands 7%, France 5%, UAE 3% (2023)
note:
<b>note:</b> top five export partners based on percentage share of exports
Foreign direct investment
net inflows:
$-16,681,873
GDP - composition, by end use
Exports of goods and services:
7.9% (2017 est.)
Government consumption:
17.6% (2017 est.)
Household consumption:
81.4% (2017 est.)
Imports of goods and services:
-40.4% (2017 est.)
Investment in fixed capital:
33.4% (2017 est.)
Investment in inventories:
0% (2017 est.)
GDP - composition, by sector of origin
Agriculture:
12.8% (2024 est.)
Industry:
2.9% (2024 est.)
Note:
<b>note:</b> figures may not total 100% due to non-allocated consumption not captured in sector-reported data
Services:
76.6% (2024 est.)
GDP (official exchange rate)
$764.274 million (2024 est.)
note:
<b>note:</b> data in current dollars at official exchange rate
GDP per capita (nominal)
$3,491
Gini Index coefficient - distribution of family income
56.3 (2017)
Gini Index coefficient - distribution of family income 2017:
40.7 (2017 est.)
Note:
<b>note:</b> index (0-100) of income distribution; higher values represent greater inequality
GNI (gross national income)
$821.45 million
GNI per capita
$2,850
Household income or consumption by percentage share
Highest 10%:
32.8% (2017 est.)
Lowest 10%:
2.6% (2017 est.)
Note:
<strong>note:</strong> % share of income accruing to lowest and highest 10% of population
Imports
Imports 2020:
$160.097 million (2020 est.)
Imports 2021:
$201.145 million (2021 est.)
Imports 2022:
$219.322 million (2022 est.)
Note:
<b>note:</b> balance of payments - imports of goods and services in current dollars
Imports - commodities
ships, refined petroleum, rice, electric generating sets, cars (2023)
note:
<b>note:</b> top five import commodities based on value in dollars
Imports - partners
Portugal 35%, Angola 13%, Gabon 11%, Japan 8%, China 6% (2023)
note:
<b>note:</b> top five import partners based on percentage share of imports
Industrial production growth rate
3.2% (2024 est.)
note:
<b>note:</b> annual % change in industrial value added based on constant local currency
Industries
light construction, textiles, soap, beer, fish processing, timber
Inflation rate (consumer prices)
14.35%
Inflation rate (consumer prices) 2022:
18% (2022 est.)
Inflation rate (consumer prices) 2023:
21.3% (2023 est.)
Inflation rate (consumer prices) 2024:
14.4% (2024 est.)
Note:
<b>note:</b> annual % change based on consumer prices
Labor force
34,500 (2024 est.)
note:
<b>note:</b> number of people ages 15 or older who are employed or seeking work
total:
35,075 persons
Labor force - by occupation
agriculture:
12.06%
industry:
22.52%
services:
65.42%
Population below poverty line
55.5% (2017 est.)
note:
<b>note:</b> % of population with income below national poverty line
Public debt
Public debt 2016:
93.1% of GDP (2016 est.)
Real GDP (purchasing power parity)
$1.47 billion
Note:
<b>note:</b> data in 2021 dollars
Real GDP (purchasing power parity) 2022:
$1.275 billion (2022 est.)
Real GDP (purchasing power parity) 2023:
$1.279 billion (2023 est.)
Real GDP (purchasing power parity) 2024:
$1.291 billion (2024 est.)
Real GDP growth rate
1.1%
Note:
<b>note:</b> annual GDP % growth based on constant local currency
Real GDP growth rate 2022:
0.2% (2022 est.)
Real GDP growth rate 2023:
0.4% (2023 est.)
Real GDP growth rate 2024:
0.9% (2024 est.)
Real GDP per capita
$6,242
Note:
<b>note:</b> data in 2021 dollars
Real GDP per capita 2022:
$5,600 (2022 est.)
Real GDP per capita 2023:
$5,500 (2023 est.)
Real GDP per capita 2024:
$5,500 (2024 est.)
Remittances
$80.14 million
Note:
<b>note:</b> personal transfers and compensation between resident and non-resident individuals/households/entities
Remittances 2021:
2% of GDP (2021 est.)
Remittances 2022:
1.9% of GDP (2022 est.)
Remittances 2023:
1.5% of GDP (2023 est.)
Reserves of foreign exchange and gold
$46.25 million
Note:
<b>note:</b> holdings of gold (year-end prices)/foreign exchange/special drawing rights in current dollars
Reserves of foreign exchange and gold 2021:
$75.017 million (2021 est.)
Reserves of foreign exchange and gold 2022:
$64.476 million (2022 est.)
Reserves of foreign exchange and gold 2023:
$46.247 million (2023 est.)
Unemployment rate
9.13%
Note:
<b>note:</b> % of labor force seeking employment
Unemployment rate 2022:
9% (2022 est.)
Unemployment rate 2023:
9.1% (2023 est.)
Unemployment rate 2024:
9.2% (2024 est.)
Youth unemployment rate (ages 15-24)
Female:
9.2% (2024 est.)
Male:
8% (2024 est.)
Note:
<b>note:</b> % of labor force ages 15-24 seeking employment
Total:
8.6% (2024 est.)
Economic Rankings
Gini Index
#5
Inflation Rate
#28
Unemployment Rate
#49
External Debt
#120
GDP per Capita
#147
Reserves
#173
GDP Growth Rate
#183
GDP (Nominal)
#186
GDP (PPP)
#186
Imports
#189
Exports
#189
Quick Facts
Industries
light construction, textiles, soap, beer, fish processing, timber
Agricultural products
plantains, oil palm fruit, taro, bananas, fruits, cocoa beans, yams, coconuts, cassava, vegetables (2023)
Labor force
34,500 (2024 est.)
Exports - partners
Pakistan 54%, Germany 11%, Netherlands 7%, France 5%, UAE 3% (2023)
Imports - partners
Portugal 35%, Angola 13%, Gabon 11%, Japan 8%, China 6% (2023)
Exchange rates
dobras (STD) per US dollar -
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