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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 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 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, Sao Tome 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'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 Sao Tome's receipt of more than $20 million in signing bonuses for almost a year. Real GDP growth averaged about 6% in 2006-07, as a result of increases in public expenditures and oil-related capital investment, but has been declining in the years since.
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$295.1 million (2009 est.)
country comparison to the world: 211
$283.7 million (2008 est.)
$268.2 million (2007 est.)
note:
data are in 2009 US dollars
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$191 million (2009 est.)
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4% (2009 est.)
country comparison to the world: 45
5.8% (2008 est.)
6% (2007 est.)
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$1,700 (2009 est.)
country comparison to the world: 192
$1,700 (2008 est.)
$1,600 (2007 est.)
note:
data are in 2009 US dollars
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agriculture: 14.3%
industry:
15.1%
services:
70.6% (2009 est.)
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52,490 (2007)
country comparison to the world: 187
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note: population mainly engaged in subsistence agriculture and fishing; shortages of skilled workers
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NA%
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54% (2004 est.)
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lowest 10%: NA%
highest 10%:
NA%
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34.5% of GDP (2009 est.)
country comparison to the world: 11
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revenues: $48.81 million
expenditures:
$57.53 million (2009 est.)
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19% (2009 est.)
country comparison to the world: 217
26% (2008 est.)
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28% (31 December 2008)
country comparison to the world: 3
28% (31 December 2007)
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32.4% (31 December 2008)
country comparison to the world: 5
32.4% (31 December 2007)
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$27.84 million (31 December 2008)
country comparison to the world: 160
$19.99 million (31 December 2007)
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$36.95 million (31 December 2008)
country comparison to the world: 164
$33.5 million (31 December 2007)
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$20.42 million (31 December 2008)
country comparison to the world: 134
$31.84 million (31 December 2007)
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$NA
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cocoa, coconuts, palm kernels, copra, cinnamon, pepper, coffee, bananas, papayas, beans; poultry; fish
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light construction, textiles, soap, beer, fish processing, timber
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8% (2009 est.)
country comparison to the world: 11
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19 million kWh (2007 est.)
country comparison to the world: 206
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17.67 million kWh (2007 est.)
country comparison to the world: 208
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0 kWh (2008)
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0 kWh (2008 est.)
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0 bbl/day (2009 est.)
country comparison to the world: 133
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1,000 bbl/day (2009 est.)
country comparison to the world: 194
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0 bbl/day (2007 est.)
country comparison to the world: 175
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726 bbl/day (2007 est.)
country comparison to the world: 192
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0 bbl (1 January 2009 est.)
country comparison to the world: 126
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0 cu m (2008 est.)
country comparison to the world: 133
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0 cu m (2008 est.)
country comparison to the world: 153
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0 cu m (2008 est.)
country comparison to the world: 131
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0 cu m (2008 est.)
country comparison to the world: 136
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0 cu m (1 January 2009 est.)
country comparison to the world: 136
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-$58 million (2009 est.)
country comparison to the world: 69
-$53 million (2008 est.)
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$8 million (2009 est.)
country comparison to the world: 212
$8 million (2008 est.)
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cocoa 80%, copra, coffee, palm oil
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UK 32.99%, Netherlands 26.93%, Belgium 21.04%, Portugal 4.31% (2009)
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$86 million (2009 est.)
country comparison to the world: 210
$73 million (2008 est.)
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machinery and electrical equipment, food products, petroleum products
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Portugal 58.9%, Brazil 6.68%, US 4.71%, Japan 4.49% (2009)
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$39 million (31 December 2009 est.)
country comparison to the world: 155
$34 million (31 December 2008 est.)
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$318 million (2002)
country comparison to the world: 167
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dobras (STD) per US dollar - 16,000 (2009), 14,900 (2008), 13,700 (2007), 12,050 (2006), 9,900.4 (2005)
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