The Democratic Republic of São Tomé and Príncipe is an archipelago located in the Gulf of Guinea, 350 miles off the coast of West Africa. The islands were uninhabited until their colonisation by Portuguese explorers in the 16thcentury. They then served as a commercial centre for the Atlantic slave trade. The country achieved peaceful independence from Portugal in 1975. And still remains one of Africa’s most stable democracies.
President: Evaristo Carvalho
Capital: Sao Tome
Sao Tome and Principe has no single economic activity that serves as a driver of growth. Historically, agriculture has been a strongly performing sector, with exports of cocoa, coffee, and palm oil increasing in recent years. However, it hasn’t compensated for the growth of imports. Tourism is an important and growing activity, but it isn’t able to support growth on an economy-wide basis. Thus, the main driver of growth in the country is government expenditure.
Source The World Bank