aken 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, which are being
jointly developed in a 60-40 split with Nigeria. 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
exceeded 4% in 2006, as a result of increases in public expenditures
and oil-related capital investment.

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

GDP (official exchange rate):
$71.38 million (2005 est.)

GDP - real growth rate:
4.4% (2006 est.)

GDP - per capita (PPP):
$1,200 (2003 est.)

GDP - composition by sector:
agriculture: 16.6%
industry: 15.3%
services: 68.1% (2006 est.)

Labor force:
35,050 (1991)

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

Unemployment rate:
NA%

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

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

Inflation rate (consumer prices):
15% (2006 est.)

Investment (gross fixed):
35.2% of GDP (2006 est.)

Budget:
revenues: $102.1 million
expenditures: $61.43 million; including capital expenditures of $54
million (2006 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:
18 million kWh (2004)

Electricity - production by source:
fossil fuel: 41.2%
hydro: 58.8%
nuclear: 0%
other: 0% (2001)

Electricity - consumption:
16.74 million kWh (2004)

Electricity - exports:
0 kWh (2004)

Electricity - imports:
0 kWh (2004)

Oil - production:
0 bbl/day (2004 est.)

Oil - consumption:
660 bbl/day (2004 est.)

Oil - exports:
NA bbl/day

Oil - imports:
NA bbl/day

Natural gas - production:
0 cu m (2004 est.)

Natural gas - consumption:
0 cu m (2004 est.)

Current account balance:
$-24.4 million (2006 est.)

Exports:
$9.773 million f.o.b. (200