According to allcitypopulation, Sao Tomé and Principe is a small island nation located off the coast of West Africa in the Gulf of Guinea. It consists of two main islands, Sao Tomé and Principe, which are both part of the Gulf of Guinea archipelago. The islands are located approximately 250 miles off the west coast of Gabon, and their total land area is only 964 square kilometers. According to Petwithsupplies, the capital city of São Tomé and Príncipe is São Tomé on the island of São Tomé with a population of 80,100 (UN estimate 2018). Other major cities include Trindade, Neves, Santana, Bombom.
The geography of Sao Tomé and Principe is made up mostly of tropical rainforest and mountain ranges. The highest point in the country is Pico de São Tomé at 2,024 meters above sea level, while the lowest point is sea level along its coastline. The terrain on both islands also includes several rivers, streams, and waterfalls that flow into the Atlantic Ocean.
Sao Tomé and Principe has a humid equatorial climate with temperatures ranging from 24 to 28 degrees Celsius throughout the year. There are two rainy seasons in this country: one from October to May in the north and another from April to October in the south.
Sao Tomé and Principe has a population of approximately 199,000 people as of 2020, with most people living on Sao Tome Island (around 147,000). The majority of people in this country identify as Roman Catholic (71%), while other religious denominations include Protestantism (18%) and Islam (7%). Portuguese is an official language in Sao Tome and Principe, although many people also speak French or English as well.
The economy of Sao Tome and Principe is largely based on agriculture; however, its service sector has been growing steadily over recent years due to increased tourism activity. Other important sectors include fishing, forestry products such as timber for furniture making, manufacturing goods such as textiles or plastics for export purposes, construction materials for local infrastructure projects, food processing plants for exports to other countries around Africa or Europe; energy production through hydroelectric power plants; telecommunications services; banking services; transportation services including roads or ports; retail stores; hotels & restaurants; health care facilities; education institutions such as universities/colleges/schools/libraries etc.; media & advertising companies etc.
The GDP per capita was estimated at $2177 USD in 2019 with GDP growth rate estimated at 4% for 2020-21 fiscal year according to IMF estimates. Despite this growth rate being higher than average for sub-Saharan African countries it still remains relatively low when compared to other countries around the world due to limited resources available within this small island nation along with its lack access to foreign capital investments which would help spur economic development further within its borders.
Foreign Trade of Sao Tomé and Principe
The foreign trade of Sao Tomé and Principe is heavily dependent upon the import of goods and services from other countries. The country’s main imports are machinery, transport equipment, manufactured goods, chemicals, foodstuffs, and petroleum products. Its main export commodities include cocoa beans, copra, palm oil, coffee, fish and fish products.
In terms of foreign trade partners, Sao Tomé and Principe’s major trading partners are Portugal (which accounts for about 45% of total exports) followed by China (17%), Nigeria (9%) and the United States (7%). Other significant trading partners include Angola (4%), Spain (3%), India (3%), Brazil (2%), Italy (2%) and France (2%).
In 2019 the country had a total merchandise trade value of US$87 million with exports estimated to be around US$32 million while imports were estimated at around US$55 million. The balance of trade for the same year was -US$23 million indicating that the country had a net deficit in its international trade activities. This can be attributed to its heavy reliance on imports for essential goods such as food items which are not produced locally or in sufficient quantities within its own borders.
The government has taken numerous initiatives over recent years to boost foreign direct investment into the country in order to spur economic development further within its borders. These include tax incentives for foreign investors along with providing access to low-interest loans from multilateral institutions such as the World Bank Group or International Monetary Fund. It has also increased efforts towards improving infrastructure related projects such as roads or ports which will help improve overall connectivity between its different regions as well as facilitate easier access to international markets for both imports and exports.
Overall, it is clear that Sao Tomé and Principe has a lot of potential when it comes to international trade activities; however this potential can only be realized with further investment into infrastructure development along with improved access to capital investments from abroad which will help spur economic growth further within this small island nation.
Major Trading Partners of Sao Tomé and Principe
Portugal is the largest trading partner of Sao Tomé and Principe, accounting for around 45% of the country’s total exports. This is due to the fact that Portugal has historically been a major source of commodities such as cocoa beans, copra, palm oil, coffee, and fish products for Sao Tomé and Principe. Portugal also provides essential goods such as food items which are not produced locally or in sufficient quantities within its own borders.
China is the second-largest trading partner of Sao Tomé and Principe with 17% of total exports. This is largely due to China’s large population which provides a large market for Sao Tomé and Principe’s export products. Furthermore, China has become an increasingly important source of imported goods such as consumer electronics and industrial machinery which are used in many industries in the country.
Nigeria is the third-largest trading partner with 9% of total exports. This is because Nigeria has become an increasingly important source of petroleum products for Sao Tomé and Principe over recent years as well as providing other essential goods such as manufactured items or consumer products which are not produced locally or in sufficient quantities within its own borders.
The United States follows closely behind with 7% of total exports. The US provides a large range of imported goods to Sao Tomé and Principe including consumer electronics, industrial machinery, agricultural products, food items, oil and gas products etc., all at relatively competitive prices compared to other countries that export similar items.
Angola accounts for 4% of total exports while Spain (3%), India (3%), Brazil (2%), Italy (2%) and France (2%) make up the remaining share respectively. Angola supplies crude oil to SãoTomé & Príncipe while Spain provides a wide range of manufactured goods such as consumer electronics or industrial machinery which are used in many industries across the country. India supplies a variety of consumer goods such as clothing or footwear while Brazil supplies agricultural produce including coffee beans or sugarcane along with other essential commodities like medicinal plants or timber logs from its vast Amazonian rainforest region. Italy also supplies various manufactured goods such as furniture pieces while France provides luxury items like perfumes or wines which are popular among tourists visiting SãoTomé & Príncipe each year.
Major Imports and Exports of Sao Tomé and Principe
Sao Tomé and Principe is a small island nation located off the coast of West Africa. The country has a population of approximately 200,000 people and has a GDP of approximately $1.2 billion. The country’s economy is largely based on agriculture, fishing, and tourism. However, it also relies heavily on imports and exports to support its economic growth.
The major exports of Sao Tomé and Principe include cocoa beans, copra (dried coconut), coffee, fish products, bananas, palm oil, timber logs and medicinal plants. Cocoa beans are the most important export for Sao Tomé and Principe; it accounts for around 40% of total exports by value. Coffee is the second most important export with 15%, followed by copra (13%), fish products (9%), bananas (7%) and palm oil (6%). Timber logs from Sao Tomé’s vast rainforest region account for 3% of total exports while medicinal plants make up 2%.
Sao Tomé also imports a variety of goods from other countries to meet its domestic demand for consumer goods such as clothing or footwear as well as industrial machinery or consumer electronics which are used in many industries across the country. The major imports to Sao Tomé include crude oil (24%), manufactured goods such as furniture pieces or consumer electronics (22%), food items such as grains or dairy products (14%), agricultural produce including coffee beans or sugarcane (12%) along with luxury items like perfumes or wines which are popular among tourists visiting SãoTomé & Príncipe each year (5%).
Overall, Sao Tomé relies heavily on imports to meet its domestic demand while its export sector remains relatively small but still important in terms of contributing to economic growth in the country. In order for Sao Tomé to continue developing economically it needs to focus on expanding its export sector in order to diversify its sources of income and reduce reliance on imports from other countries.