ed assistance in 2001. 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. Sao Tome is optimistic about the development of petroleum
resources in its territorial waters in the oil-rich Gulf of Guinea;
production could begin as early as 2004.

GDP:
purchasing power parity - $214 million (2003 est.)

GDP - real growth rate:
5% (2003 est.)

GDP - per capita:
purchasing power parity - $1,200 (2003 est.)

GDP - composition by sector:
agriculture: 19.6%
industry: 17.8%
services: 62.6% (2003 est.)

Investment (gross fixed):
51.6% of GDP (2003)

Population below poverty line:
54% NA (2004 est.)

Household income or consumption by percentage share:
lowest 10%: NA
highest 10%: NA

Inflation rate (consumer prices):
9% (2003 est.)

Labor force:
NA

Labor force - by occupation:
population mainly engaged in subsistence agriculture and fishing
note: shortages of skilled workers

Unemployment rate:
NA

Budget:
revenues: $38.59 million
expenditures: $42.04 million, including capital expenditures of $54
million (2003 est.)

Agriculture - products:
cocoa, coconuts, palm kernels, copra, cinnamon, pepper, coffee,
bananas, papayas, beans; poultry; fish

Industries:
light construction, textiles, soap, beer; fish processing; timber

Industrial production growth rate:
NA

Electricity - production:
17 million kWh (2001)

Electricity - consumption:
15.81 million kWh (2001)

Electricity - exports:
0 kWh (2001)

Electricity - imports:
0 kWh (2001)

Oil - production:
0 bbl/day (2001 est.)

Oil - consumption:
700 bbl/day (2001 est.)

Oil - exports:
NA (2001)

Oil - imports:
NA (2001)

Current account balance:
$-8 million (2003)

Exports:
$6.479 million f.o.b. (2003 est.)

Exports - commodities:
cocoa 80%, copra, coffee, palm oil

Exports - partners:
Netherlands 41.7%, Canada 16.7%, Belgium 8.3%, Germany 8.3%,
Philippines 8.3% (2003)

Imports:
$30.03 million f.o.b. (2003 est.)

Imports - commodities:
machinery and electrical equipment, food products, petroleum
products

Imports - partners:
Portugal 51.6%, Germany 11.3%, Italy 6.5%, Belgium 4.8%,
Netherlands 4.8% (2003)

Reserves of foreign exchange & gold:
$18 million (2003)