Tag Archives: São Tomé and Principe

According to allcountrylist, the economy of Sao Tome and Principe is divided into four main sectors: industry, agriculture, services and tourism. Industry accounts for around 26% of the country’s GDP and includes manufacturing, mining, energy production and fishing. Agriculture is the second largest sector in Sao Tome and Principe accounting for around 32% of its GDP. It includes crop production, livestock breeding and forestry. Services are the third largest sector in Sao Tome and Principe accounting for roughly 41% of its GDP. This includes financial services, retail trade, transportation and communication services as well as health care and education services. Lastly, tourism is the fourth largest sector in Sao Tome and Principe accounting for around 1% of its GDP. This includes activities related to hotels, restaurants, transportation services as well as other attractions such as beaches or national parks. In terms of economic growth over the past few years, Sao Tome and Principe has experienced a period of steady growth since 2013 with real GDP increasing by an average rate of 3-4%. This has been driven mainly by strong performance in both industry and services which have grown at rates between 5-6%, while agriculture has seen positive growth at a rate between 2-3%. Tourism has seen relatively stagnant due to weak demand from both domestic and foreign sources. Overall, these sectors have contributed positively to Sao Tome’s economy with strong performance in both industry and services being particularly important for driving economic growth over this period. The history of agriculture in Sao Tome and Principe dates back to the 15th century when the Portuguese first arrived and began to cultivate the land. The main crops grown were sugarcane, coffee, and cocoa. These crops became the backbone of Sao Tome and Principe’s economy for centuries. In the 19th century, cocoa production increased significantly due to improved farming methods and new varieties being introduced from other countries. This resulted in a large increase in exports which helped fuel economic growth throughout the archipelago. During World War II, Sao Tome and Principe was forced to import food from other countries as production decreased due to a lack of resources. After the war ended, there was an effort by the government to modernize agriculture which included introducing new technologies such as irrigation systems and chemical fertilizers. Today, Sao Tome and Principe is still largely reliant on its agricultural sector with most of its exports coming from food products such as coffee, cocoa, bananas, pineapples, coconuts, sweet potatoes and cassava. Other crops that are produced include rice, beans, corn and sisal. In recent years there has been an increase in cash crop production such as palm oil which is used for cooking oil or biodiesel fuel. See collegesanduniversitiesinusa for Sao Tome and Principe Education and Training.