Traditionally based on cocoa and coffee, the economy of Sao Tome and Principe is now based on foreign aid.
The economy of STP has become increasingly dependent on cocoa since independence.
In the economy, cocoa production is growing again, driven by new investors and the increasing value of cocoa on international markets.
Still, the coffee grown in São Tomé and Príncipe has a good reputation and is, of some, considered on of the world's best. In any case, it is one of the world's most expensive coffees, the production is very low and it is considered a rarity today. The best coffee is grown between 600 and 800 m above sea level at the coffee plantation of Monte Café.
Industries:
Palm oil extraction , light construction, beer, water bottling, fish processing and timber.
Labour force-by occupation:
Population mainly engaged in subsistence agriculture and fishing.
GDP - composition by sector:
In 2022, the composition of São Tomé and Príncipe's Gross Domestic Product (GDP) by sector was as follows:
The services sector is the main driver of São Tomé and Príncipe’s economy, largely fueled by tourism. While agriculture employs a significant portion of the population, its contribution to GDP is relatively small. The industrial sector remains limited, with only a few medium-sized enterprises focused on processing cocoa, beverages, vanilla, palm oil extraction and timber.
Agriculture products:
Cocoa, coconuts, palm kernels, copra, vanilla, cinnamon, pepper, coffee, bananas, papayas, beans, poultry and fish.
In 2022, São Tomé and Príncipe recorded the following international trade values:
Exports:
$ 22 million (2022)
Imports:
$ 196 million (2022)
(Source: trade4msmes.org)
Exchange rate - April, 2025
1 € (Euro) - 24,5 dobras
Tourism already accounted for between 11% and 13% of the country's economy in 2024, being by far the main source of revenue.
Economy
