onal aid and debt rescheduling. 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, but
economic growth has remained sluggish. Sao Tome is also optimistic
that significant petroleum discoveries are forthcoming in its
territorial waters in the oil-rich waters of the Gulf of Guinea.
Corruption scandals continue to weaken the economy.

GDP: purchasing power parity--$164 million (1998 est.)

GDP--real growth rate: 2.5% (1998 est.)

GDP--per capita: purchasing power parity?$1,100 (1998 est.)

GDP--composition by sector:
agriculture: 23%
industry: 19%
services: 58% (1997 est.)

Population below poverty line: NA%

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

Inflation rate (consumer prices): 21% (1998 est.)

Labor force: NA

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

Unemployment rate: 50% in the formal business sector (1998 est.)

Budget:
revenues: $58 million
expenditures: $114 million, including capital expenditures of $54
million (1993 est.)

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

Industrial production growth rate: NA%

Electricity--production: 15 million kWh (1996)

Electricity--production by source:
fossil fuel: 46.67%
hydro: 53.33%
nuclear: 0%
other: 0% (1996)

Electricity--consumption: 15 million kWh (1996)

Electricity--exports: 0 kWh (1996)

Electricity--imports: 0 kWh (1996)

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

Exports: $5.3 million (f.o.b., 1997 est.)

Exports--commodities: cocoa 90%, copra, coffee, palm oil (1997)

Exports--partners: Netherlands 51%, Germany 6%, Portugal 6% (1997)

Imports: $19.2 million (f.o.b., 1997 est.)

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

Imports--partners: Portugal 26%, France 18%, Angola, Belgium,
Japan (1997)

Debt--external: $267 million (1997)

Economic aid--recipient: $57.3 million (1995)

Currency: 1 dobra (Db) = 100 centimos

Exchange rates: dobras (Db) per US$1--6,873.5 (October 1998),
4,552.5 (1997), 2,20