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SAO TOME AND PRINCIPE

SAO TOME AND PRINCIPE

Since the 1800s, the economy of São Tomé and Príncipe has been based on plantation agriculture The main crop on São Tomé is cocoa, representing about 95% of exports. Other export crops include copra, palm kernels, and coffee. Other than agriculture, the main economic activities are fishing and a small industrial sector engaged in processing local agricultural products and producing a few basic consumer goods. The scenic islands have potential for tourism, and the government is attempting to improve its rudimentary tourist industry infrastructure Following independence, the country had a centrally directed economy with most means of production owned and controlled by the state. The original constitution guaranteed a “mixed economy,” with privately owned cooperatives combined with publicly owned property and means of production.

Country Population: 157,000
Country Capital: Sao Tome
Country Currency: Sao Tome and Principe dobra

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