Global Tenders Sao Tome and Principe

About Sao Tome and Principe's economy

São Tomé and Príncipe's economy, with a GDP of $514 million USD, is undergoing transformation. While traditionally reliant on cocoa and coffee exports (reaching $110 million USD), the country is actively developing its oil industry in the resource-rich waters of the Gulf of Guinea. Imports exceed exports at $220 million USD, highlighting the need for further economic diversification. Government procurement plays a significant role, particularly in infrastructure development and social programs, supported by oil revenue and international aid. Although challenges remain, São Tomé and Príncipe holds promise for future growth, particularly in tourism and the blue economy.

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