|São Tomé and Príncipe is an island country in the southeast of the Gulf of Guinea on the central western side of Africa, with an area of around 1,001 square kilometres. It is composed of 14 isles including São Tomé, Príncipe, Rolas, and Caroço. By the end of 2021, the population is about 223 thousands. The capital city São Tomé is the largest city of the country.
In recent years, the government of São Tomé and Príncipe has taken pro-active measures to improve the investment environment, attract foreign investment, construct highways and other infrastructure and develop actively tourism and seek for offshore oil development, which have helped to maintain the economy in steady growth.
São Tomé and Príncipe is an agricultural country that produce cocoa and other cash crops, 51% of the population is engaged in agricultural production. The main cash crop is cocoa, dried coconuts, coffee and Palm oil. The unique geographical location, coupled with the beautiful natural landscape, provides São Tomé and Príncipe with rich tourism resources. At the same time, oil industry still in the initial stage of development, and the country has relatively rich forest, with biological and fishery resources.
The “2022 World Investment Report” published by the United Nations Conference on Trade and Development (UNCTAD), pointed out that by the end of 2021, São Tomé and Principe has attracted US$430 million on stock of inward direct investment. According to the “2021 Statistical Bulletin of China’s Outward Foreign Direct Investment”, by the end of 2021, the stock of direct investment of China in São Tomé and Principe was US$690 thousand.
|Trade in Goods
In 2021, the main export destinations of São Tomé and Príncipe are the Netherlands, Belgium, Portugal and Germany, and the main export goods are cocoa, palm oil dried coconuts, coffee, etc. The main origins for imports are Portugal, Angola, Togo and China. The main import goods are grain, fuels, industrial products, and consumer goods.
In 2022, China’s exports to São Tomé and Príncipe amounted to US$15.3 million, mainly include steel plates, welded pipe, footwear; imports from São Tomé and Príncipe amounted to US$150 thousands, mainly include industrial monocarboxylic fatty acids; acid oils from refining.
Strategic positioning of Sao Tome and Principe