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Sao Tome and Principe

Sao Tome and Principe Economy Stats

Overview:

This small, 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 has to import all fuels, most manufactured goods, consumer goods, and a substantial amount of food. Over the years, it has had difficulty servicing its external debt and has relied heavily on concessional aid and debt rescheduling. Sao Tome and Principe benefited from $200 million in debt relief in December 2000 under the Highly Indebted Poor Countries (HIPC) program, which helped bring down the country's $300 million debt burden. In August 2005, the government signed on to a new 3-year IMF Poverty Reduction and Growth Facility (PRGF) program worth $4.3 million. Considerable potential exists for development of a tourist industry, and the government has taken steps to expand facilities in recent years. The government also has attempted to reduce price controls and subsidies. Potential exists for the development of petroleum resources in Sao Tome and Principe's territorial waters in the oil-rich Gulf of Guinea, which are being jointly developed in a 60-40 split with Nigeria, but any actual production is at least several years off. The first production licenses were sold in 2004, though a dispute over licensing with Nigeria delayed the country's receipt of more than $20 million in signing bonuses for almost a year.

Definitions

  • Budget > Revenues: Revenues calculated on an exchange rate basis, i.e., not in purchasing power parity (PPP) terms
  • Budget surplus > + or deficit > -: This entry records the difference between national government revenues and expenditures, expressed as a percent of GDP. A positive (+) number indicates that revenues exceeded expenditures (a budget surplus), while a negative (-) number indicates the reverse (a budget deficit). Normalizing the data, by dividing the budget balance by GDP, enables easy comparisons across countries and indicates whether a national government saves or borrows money. Countries with high budget deficits (relative to their GDPs) generally have more difficulty raising funds to finance expenditures, than those with lower deficits.
  • Debt > Government debt > Public debt, share of GDP: Public debt as % of GDP (CIA).

    No date was available from the Wikipedia article, so we used the date of retrieval.

  • Exports: This entry provides the total US dollar amount of merchandise exports on an f.o.b. (free on board) basis. These figures are calculated on an exchange rate basis, i.e., not in purchasing power parity (PPP) terms.
  • Fiscal year: The beginning and ending months for a country's accounting period of 12 months, which often is the calendar year but which may begin in any month. All yearly references are for the calendar year (CY) unless indicated as a noncalendar fiscal year (FY).
  • GDP: GDP at purchaser's prices is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. Data are in current U.S. dollars. Dollar figures for GDP are converted from domestic currencies using single year official exchange rates. For a few countries where the official exchange rate does not reflect the rate effectively applied to actual foreign exchange transactions, an alternative conversion factor is used.
  • GDP > Composition by sector > Industry: The gross domestic product (GDP) or value of all final goods produced by the industrial sector within a nation in a given year. GDP dollar estimates in the Factbook are derived from purchasing power parity (PPP) calculations. See the CIA World Factbook for more information.
  • GDP > Per capita: This entry gives the gross domestic product (GDP) or value of all final goods and services produced within a nation in a given year. A nation's GDP at purchasing power parity (PPP) exchange rates is the sum value of all goods and services produced in the country valued at prices prevailing in the United States. This is the measure most economists prefer when looking at per-capita welfare and when comparing living conditions or use of resources across countries. The measure is difficult to compute, as a US dollar value has to be assigned to all goods and services in the country regardless of whether these goods and services have a direct equivalent in the United States (for example, the value of an ox-cart or non-US military equipment); as a result, PPP estimates for some countries are based on a small and sometimes different set of goods and services. In addition, many countries do not formally participate in the World Bank's PPP project that calculates these measures, so the resulting GDP estimates for these countries may lack precision. For many developing countries, PPP-based GDP measures are multiples of the official exchange rate (OER) measure. The difference between the OER- and PPP-denominated GDP values for most of the weathly industrialized countries are generally much smaller. Per capita figures expressed per 1 population.
  • GDP > Per capita > PPP: This entry shows GDP on a purchasing power parity basis divided by population as of 1 July for the same year.
  • GDP > Purchasing power parity per capita: This entry gives the gross domestic product (GDP) or value of all final goods and services produced within a nation in a given year. A nation's GDP at purchasing power parity (PPP) exchange rates is the sum value of all goods and services produced in the country valued at prices prevailing in the United States. This is the measure most economists prefer when looking at per-capita welfare and when comparing living conditions or use of resources across countries. The measure is difficult to compute, as a US dollar value has to be assigned to all goods and services in the country regardless of whether these goods and services have a direct equivalent in the United States (for example, the value of an ox-cart or non-US military equipment); as a result, PPP estimates for some countries are based on a small and sometimes different set of goods and services. In addition, many countries do not formally participate in the World Bank's PPP project that calculates these measures, so the resulting GDP estimates for these countries may lack precision. For many developing countries, PPP-based GDP measures are multiples of the official exchange rate (OER) measure. The difference between the OER- and PPP-denominated GDP values for most of the weathly industrialized countries are generally much smaller. Figures expressed per capita for the same year.
  • GDP per capita: GDP at purchaser's prices is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. Data are in current U.S. dollars. Dollar figures for GDP are converted from domestic currencies using single year official exchange rates. For a few countries where the official exchange rate does not reflect the rate effectively applied to actual foreign exchange transactions, an alternative conversion factor is used. Figures expressed per capita for the same year.
  • Gross National Income: GNI, Atlas method (current US$). GNI (formerly GNP) is the sum of value added by all resident producers plus any product taxes (less subsidies) not included in the valuation of output plus net receipts of primary income (compensation of employees and prop).
  • Inflation rate > Consumer prices: This entry furnishes the annual percent change in consumer prices compared with the previous year's consumer prices.
  • Population below poverty line: National estimates of the percentage of the population lying below the poverty line are based on surveys of sub-groups, with the results weighted by the number of people in each group. Definitions of poverty vary considerably among nations. For example, rich nations generally employ more generous standards of poverty than poor nations.
  • Public debt: This entry records the cumulatiive total of all government borrowings less repayments that are denominated in a country's home currency. Public debt should not be confused with external debt, which reflects the foreign currency liabilities of both the private and public sector and must be financed out of foreign exchange earnings.
STAT AMOUNT DATE RANK HISTORY
Budget > Revenues $88.38 million 2013 209th out of 223
Budget surplus > + or deficit > - -10.9% of GDP 2012 175th out of 182
Debt > Government debt > Public debt, share of GDP 76.5 CIA 2014 31st out of 153
Exports $12.20 million 2012 185th out of 189
Fiscal year calendar year 2013
GDP $263.73 million 2012 173th out of 177
GDP > Composition by sector > Industry 23.7% 2012 130th out of 217
GDP > Per capita $1,920.61 per capita 2010 90th out of 118
GDP > Per capita > PPP $2,100.00 2012 151st out of 188
GDP > Purchasing power parity per capita $1,778.06 2010 148th out of 181
GDP per capita $1,402.08 2012 137th out of 177
Gross National Income $42.78 million 2001 158th out of 158
Inflation rate > Consumer prices 10.6% 2012 21st out of 199
Population below poverty line 66.2% 2009 2nd out of 36
Public debt 75.5% of GDP 2012 31st out of 149

SOURCES: CIA World Factbooks 18 December 2003 to 28 March 2011; CIA World Factbooks 2010, 2011, 2012, 2013; Wikipedia: List of countries by public debt (List) (Public debt , The World Factbook , United States Central Intelligence Agency , accessed on March 21, 2013.); All CIA World Factbooks 18 December 2003 to 18 December 2008; World Bank national accounts data, and OECD National Accounts data files.; CIA World Factbook 2010, 2011, 2012, 2013; CIA World Factbooks 18 December 2003 to 28 March 2011. Population figures from World Bank: (1) United Nations Population Division. World Population Prospects, (2) United Nations Statistical Division. Population and Vital Statistics Report (various years), (3) Census reports and other statistical publications from national statistical offices, (4) Eurostat: Demographic Statistics, (5) Secretariat of the Pacific Community: Statistics and Demography Programme, and (6) U.S. Census Bureau: International Database.; World Bank national accounts data, and OECD National Accounts data files. Population figures from World Bank: (1) United Nations Population Division. World Population Prospects, (2) United Nations Statistical Division. Population and Vital Statistics Report (various years), (3) Census reports and other statistical publications from national statistical offices, (4) Eurostat: Demographic Statistics, (5) Secretariat of the Pacific Community: Statistics and Demography Programme, and (6) U.S. Census Bureau: International Database.; CIA World Factbooks 18 December 2003 to 28 March 2011

Citation

"Sao Tome and Principe Economy Stats", NationMaster. Retrieved from http://www.nationmaster.com/country-info/profiles/Sao-Tome-and-Principe/Economy

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Sao Tome and Principe Economy Profiles (Subcategories)

Adjusted savings 3 Inflation 5
Aid 3 International tourism 8
Balance of payments 34 Long-term debt 4
Bank and trade-related lending 4 Merchandise 4
Budget 15 Merchandise imports 4
Changes in net 4 National accounts 23
Commercial service 4 Natural gas 8
Commercial service imports 4 Net capital account 4
Companies 18 Net current transfers 4
Currency 12 Net current transfers from abroad 6
Current account balance 5 Net errors and omissions 4
Current transfers 4 Net financial flows 20
Debt 81 Net income 4
Economic aid 3 Net income from abroad 6
Electricity 8 Net trade in goods 4
Entrepreneurship 11 Net trade in goods and services 4
Exports 3 Official development assistance and official aid 4
External balance on goods and services 7 Oil 10
External debt 215 Portfolio investment 4
Final 20 Poverty 11
Financial sector 23 Poverty and inequality 12
Foreign aid 41 Public and publicly guaranteed debt service 6
Foreign direct investment 10 Public and publicly guaranteed (PPG) debt 3
GDP 38 Purchasing power parity 9
GDP per capita 4 Reserves 6
GNI 12 Savings 21
Goods 4 Service 4
Goods imports 4 Service imports 4
Gross capital formation 10 Services 10
Gross domestic savings 6 Spending 8
Gross fixed capital formation 10 Tax 32
Gross national expenditure 9 Total 9
Gross savings 6 Total debt service 6
Gross value added at factor cost 9 Tourism 16
High-technology 3 Tourism expenditures 5
Household final 23 Tourism receipts 5
IBRD loans and IDA credits 4 Tourist arrivals by region of origin 5
Income 21 Trade 341
Income payments 4 Trademark applications 3
Income receipts 4 Use of IMF credit 4
Inequality 8
  • Sao Tome and Principe ranked first for GDP > composition, by end use > household consumption globally in 2013.
  • Sao Tome and Principe ranked first for currency > official exchange rate > LCU per US$, period average amongst Sub-Saharan Africa in 2012.
  • Sao Tome and Principe has ranked last for GNI > PPP > current international $ since 1986.
  • Sao Tome and Principe ranked first for GDP > composition, by end use > investment in fixed capital amongst Heavily indebted countries in 2013.
  • Sao Tome and Principe has ranked last for GDP > PPP > constant 2000 international $ since 1986.
  • Sao Tome and Principe has ranked last for GNI > current US$ since 1991.
  • Sao Tome and Principe has ranked last for GNI > atlas method > current US$ since 1990.
  • Sao Tome and Principe has ranked last for household final > consumption expenditure > constant 2000 US$ since 1986.
  • Sao Tome and Principe has ranked last for trade > imports of goods > services and income > boP > current US$ since 1987.
  • Sao Tome and Principe has ranked last for tourism > international tourism, expenditures for travel items > current US$ since 2003.