São Tomé and Príncipe, a small island nation in the Gulf of Guinea, has an economy primarily based on agriculture, with emerging sectors in services and tourism. Here’s an overview of the statistics for each major economic sector in São Tomé and Príncipe:
- Agriculture: Agriculture is a crucial sector for São Tomé and Príncipe’s economy, supporting livelihoods, food security, and export revenues.
- Contribution to GDP: According to Smber, agriculture contributes a significant portion to the country’s GDP, often around 20% to 30%.
- Employment: The sector provides employment for a large portion of the population, particularly in rural areas.
- Exports: São Tomé and Príncipe’s main agricultural export is cocoa, which plays a central role in the country’s economy.
- Other Crops: Other agricultural products include palm oil, coconut, and fruits.
- Services: The services sector in São Tomé and Príncipe encompasses various industries, including government services and emerging tourism activities.
- Contribution to GDP: The services sector contributes a notable portion to the country’s GDP.
- Public Administration: Government services and public administration are significant components of the services sector.
- Tourism: São Tomé and Príncipe is working to develop its tourism industry, with potential for growth in accommodations, entertainment, and hospitality services.
- Industry and Manufacturing: The industrial and manufacturing sector is relatively small but contributes to economic activities.
- Contribution to GDP: The industrial sector contributes a moderate share to the country’s GDP.
- Manufacturing: São Tomé and Príncipe engages in light manufacturing, including food processing and small-scale industries.
- Fishing and Aquaculture: Fishing and aquaculture contribute to food security and employment, particularly in coastal communities.
- Employment: The sector provides livelihoods for local fisherfolk and communities.
- Food Security: Fish and seafood are important components of the local diet.
- Energy and Natural Resources: São Tomé and Príncipe has potential oil reserves and is exploring ways to develop its energy resources.
- Exploration: The country has explored offshore oil reserves, which could play a role in its economic development.
- Renewable Energy: São Tomé and Príncipe is exploring renewable energy sources like solar and wind power.
- Construction and Real Estate: Construction and real estate respond to infrastructure development and urbanization.
- Investment: Construction benefits from infrastructure projects and urban development.
- Real Estate Market: The real estate market is influenced by local demand and potential tourism-related development.
- Information and Communication Technology (ICT): São Tomé and Príncipe is working to develop its ICT sector to enhance digital connectivity and services.
- Investment: The country is investing in building its technology infrastructure and promoting digital literacy.
- E-Government: Efforts are being made to improve online government services and digital connectivity.
- Education and Healthcare: The education and healthcare sectors contribute to human capital development and social welfare.
- Workforce Development: Education programs contribute to developing a skilled workforce.
- Healthcare: Healthcare services are essential for the well-being of the population.
- Retail and Wholesale Trade: Wholesale and retail trade support domestic consumption and potential tourism-related activities.
- Contribution to GDP: The sector contributes to economic activity by facilitating trade and commerce.
- Tourism-Related Trade: Retail businesses cater to tourists’ needs for shopping and entertainment.
- Arts and Culture: São Tomé and Príncipe’s unique cultural heritage contributes to artistic and cultural activities.
- Cultural Tourism: The country’s rich cultural heritage attracts tourists interested in local arts, crafts, and traditions.
- Artistic Productions: Art and cultural activities contribute to local creativity and expression.
It’s important to note that economic statistics and conditions can change over time due to various factors, including policy changes, global market trends, and local developments. Additionally, challenges such as changing weather patterns, market access issues, and global events can impact economic sectors. For the most current and accurate statistics, we recommend referring to up-to-date sources such as official government reports, international organizations, and economic research institutions specific to São Tomé and Príncipe.
Major Trade Partners of Sao Tome and Principe
São Tomé and Príncipe, a small island nation in the Gulf of Guinea, engages in international trade to access goods and services that support its economy and development. Here’s an overview of São Tomé and Príncipe’s major trade partners and the dynamics of their relationships:
- Portugal: As the former colonial power, Portugal maintains a historical and trade relationship with São Tomé and Príncipe.
- Trade Volumes: Portugal is an important trade partner for São Tomé and Príncipe, with bilateral trade in various sectors.
- Exports: São Tomé and Príncipe exports products like cocoa and coffee to Portugal.
- Imports: The country imports machinery, vehicles, and consumer goods from Portugal.
- Angola: According to COUNTRYAAH.COM, Angola, a fellow Portuguese-speaking African nation, has trade relations with São Tomé and Príncipe due to regional ties and cooperation.
- Trade Activities: Both countries engage in trade, exchanging goods and services.
- Regional Cooperation: They collaborate within regional organizations like the Community of Portuguese Language Countries (CPLP).
- European Union (EU): São Tomé and Príncipe maintains trade relations with the European Union, benefiting from economic cooperation and development assistance.
- Exports and Imports: The country’s trade with the EU involves products like agricultural goods and machinery.
- Development Assistance: São Tomé and Príncipe receives aid and support from the EU for development projects.
- China: China’s growing global influence has led to trade relations with São Tomé and Príncipe, particularly in infrastructure projects and economic cooperation.
- Investment: China has invested in various projects in São Tomé and Príncipe, including infrastructure development.
- Trade Activities: São Tomé and Príncipe imports goods from China, including machinery and consumer products.
- United States: The United States maintains trade ties with São Tomé and Príncipe, driven by economic cooperation and cultural connections.
- Exports: São Tomé and Príncipe exports products like cocoa and coffee to the United States.
- Imports: The country imports machinery, vehicles, and consumer goods from the United States.
- Other African Nations: São Tomé and Príncipe engages in trade with other African countries, benefiting from regional economic integration.
- Trade Volumes: The country trades with neighboring African nations, exchanging goods and services.
- Regional Collaboration: São Tomé and Príncipe collaborates within regional organizations like the Economic Community of Central African States (ECCAS).
- Other EU Countries: Besides Portugal, São Tomé and Príncipe engages in trade with other European Union member states.
- Exports and Imports: The country’s trade activities include exchanging goods with other EU countries.
- Economic Collaboration: São Tomé and Príncipe benefits from economic ties with various European partners.
- Brazil: Brazil, as a fellow Portuguese-speaking nation, has cultural and trade ties with São Tomé and Príncipe.
- Cultural Connection: The shared language and cultural heritage contribute to the relationship.
- Trade Activities: Both countries engage in trade, involving goods and services.
- International Organizations: São Tomé and Príncipe interacts with international organizations for trade and economic cooperation.
- Development Assistance: The country receives aid and development assistance from international organizations.
- Trade Facilitation: São Tomé and Príncipe collaborates with organizations to facilitate trade and economic growth.
- International Trade Partners: São Tomé and Príncipe engages in trade with partners from various regions, enhancing its economic activities.
- Exports and Imports: International trade partners contribute to the import and export of goods and services, supporting the country’s economy.
- Development Cooperation: Trade relationships often involve development cooperation and economic support.
It’s important to note that trade dynamics can change over time due to global economic shifts, policy changes, and emerging partnerships. Additionally, challenges such as changing regulations, market access issues, and global events can impact trade relationships. For the most current and accurate information, referring to up-to-date sources such as trade statistics from government agencies and international organizations specific to São Tomé and Príncipe is recommended.