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Economy of Sao Tome and Principe vs Tunisia compared: GDP & Debt

Updated on by Georank team

Sao Tome and Principe has a GDP of $764M compared to $53.4B for Tunisia, ranking 189/197 and 90/197 by economy size, respectively.

Sao Tome and Principe has $332M in government debt (37.3% of GDP), compared to $44.4B (82.9% of GDP) in Tunisia.

The chart below compares the two countries' GDP growth in both current (nominal) and constant dollars, accounting for inflation over time.

Sao Tome and Principe
GDP, current $

GDP, constant 2015 $
Tunisia
GDP, current $

GDP, constant 2015 $
Year GDP
Sao Tome Tunisia
Current $ Constant $ Current $ Constant $
1961 - - $866,155,429 $6,137,829,834
1962 - - $880,027,733 $5,856,098,258
1963 - - $1,026,737,600 $5,227,504,981
1964 - - $1,025,866,792 $4,983,069,469
1965 - - $991,047,619 $4,856,664,333
1966 - - $1,040,952,381 $5,024,455,670
1967 - - $1,085,714,286 $5,032,592,900
1968 - - $1,214,666,667 $5,556,472,162
1969 - - $1,289,904,762 $5,820,283,203
1970 $37,211,826 $76,468,736 $1,439,238,095 $6,092,068,996
1971 $37,288,845 $80,579,183 $1,685,162,272 $6,735,403,513
1972 $41,430,257 $82,425,279 $2,237,556,149 $7,930,447,182
1973 $56,011,245 $83,737,737 $2,730,813,385 $7,878,531,025
1974 $57,817,591 $88,497,202 $3,545,868,575 $8,514,705,256
1975 $60,101,710 $93,256,667 $4,328,965,588 $9,124,026,071
1976 $52,039,421 $94,785,465 $4,508,191,942 $9,842,712,161
1977 $49,207,692 $116,981,878 $5,109,324,009 $10,178,456,507
1978 $55,044,563 $120,371,194 $5,968,460,080 $10,833,997,305
1979 $65,755,928 $140,043,649 $7,188,863,904 $11,545,522,372
1980 $81,662,231 $138,529,274 $8,744,134,354 $12,402,054,611
1981 $83,499,264 $124,241,500 $8,428,445,294 $13,085,912,935
1982 $80,307,763 $128,084,021 $8,133,580,052 $13,021,302,862
1983 $75,110,289 $123,122,082 $8,350,582,748 $13,630,949,504
1984 $78,213,796 $115,697,255 $8,254,541,195 $14,414,571,427
1985 $82,733,069 $126,456,967 $8,410,226,053 $15,228,789,050
1986 $115,928,907 $119,081,847 $9,017,806,654 $15,008,430,237
1987 $115,952,925 $115,592,613 $9,696,715,911 $16,014,200,843
1988 $99,000,764 $117,902,998 $10,096,245,762 $16,025,756,543
1989 $98,545,367 $121,599,629 $10,101,851,745 $16,305,678,293
1990 $119,297,933 $118,982,020 $12,290,568,182 $17,601,950,275
1991 $107,484,143 $120,410,999 $13,074,782,609 $18,289,226,397
1992 $94,861,781 $121,253,872 $15,496,708,060 $19,716,833,824
1993 $125,742,229 $122,587,663 $14,608,335,608 $20,148,598,741
1994 $131,338,415 $125,284,594 $15,633,174,304 $20,789,004,085
1995 $103,695,237 $127,790,288 $18,030,876,599 $21,277,892,826
1996 $135,188,166 $129,707,144 $19,587,161,807 $22,798,428,276
1997 $91,920,274 $130,999,443 $20,746,210,354 $24,038,877,878
1998 $72,285,404 $134,274,413 $21,802,893,587 $25,188,840,698
1999 $77,302,212 $137,631,282 $22,943,202,175 $26,713,932,931
2000 $76,198,395 $138,248,377 $21,473,528,161 $27,972,151,937
2001 $75,951,133 $142,484,975 $22,065,832,449 $29,034,050,814
2002 $85,171,074 $147,272,738 $23,141,616,605 $29,418,042,728
2003 $102,085,769 $159,483,886 $27,453,902,261 $30,801,396,632
2004 $114,582,284 $165,126,276 $31,183,885,241 $32,722,107,266
2005 $136,450,662 $176,048,759 $32,272,186,695 $33,862,978,438
2006 $142,775,104 $191,657,435 $34,376,664,601 $35,638,786,834
2007 $149,146,919 $198,636,586 $38,915,353,867 $38,029,978,712
2008 $188,021,165 $211,009,232 $44,859,439,902 $39,641,606,104
2009 $200,668,065 $217,977,601 $43,455,740,497 $40,848,078,614
2010 $190,021,192 $221,134,909 $46,206,091,938 $42,061,729,256
2011 $226,455,001 $225,556,351 $48,123,325,825 $41,200,879,648
2012 $229,371,348 $232,194,345 $47,311,401,813 $42,938,187,712
2013 $267,041,748 $244,081,947 $48,685,446,414 $43,981,556,030
2014 $293,119,143 $256,057,121 $50,271,812,921 $45,340,730,385
2015 $259,999,643 $259,999,643 $45,779,494,042 $45,779,494,042
2016 $292,267,272 $273,459,369 $44,360,072,680 $46,291,045,988
2017 $322,002,845 $284,706,697 $42,163,530,591 $47,326,964,920
2018 $383,717,328 $297,171,521 $42,686,504,460 $48,569,264,672
2019 $412,976,083 $303,157,496 $41,905,642,419 $49,340,470,116
2020 $471,229,485 $311,114,955 $42,491,780,918 $44,893,939,453
2021 $524,402,456 $317,023,958 $47,073,234,359 $47,020,260,422
2022 $540,809,499 $317,558,772 $44,948,769,171 $48,277,261,610
2023 $678,976,265 $318,740,894 $48,196,281,784 $48,296,165,329
2024 $764,274,043 $321,609,564 $53,409,988,745 $48,948,478,710

Economic indicators

Sao Tome Tunisia
Gross domestic product
$764M
2024
$53.4B
2024
GDP rank
189/197
2024
90/197
2024
GDP growth
12.6%
2023-2024
10.8%
2023-2024
GDP per capita
$3,245
2024
$4,350
2024
GDP per capita rank
138/197
2024
127/197
2024
GDP per capita, PPP
$6,230
2024
$14,451
2024
Government debt
$332M
2024
$44.4B
2024
Debt-to-GDP ratio
37.3%
2025
82.9%
2025
Government debt per person
$1,410
2024
$3,617
2024
Government debt per person rank
133/185
2024
95/185
2024
Average annual personal income after taxes
$2,715
2025
$4,061
2025
Market capitalization of domestic companies n/a
$8.3B
2024
Income share by richest 10%
32.8%
2017
27%
2021
Income share by poorest 10%
2.6%
2017
3.1%
2021
Government expenditure, % of GDP
24.5%
2025
32.4%
2025
Consumer prices inflation
9.7%
2024-2025
5.9%
2024-2025
Central bank interest rate n/a
7.5%
2025
Unemployment rate
8.81%
2017
15.1%
2023
Population
244055
12402051

GDP per capita in Sao Tome and Principe vs Tunisia

Sao Tome and Principe's GDP per capita is $3,245, ranking 138/197, compared to $4,350 in Tunisia, ranking 127/197. Adjusted for purchasing power (GDP per capita PPP), Sao Tome and Principe ranks 151st at $6,230, while Tunisia ranks 116th at $14,451.

Sao Tome and Principe
GDP per capita

GDP per capita, PPP
Tunisia
GDP per capita

GDP per capita, PPP
Year Current $
Sao Tome Tunisia
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
1961 - - $200.7 -
1962 - - $201.4 -
1963 - - $231.9 -
1964 - - $228.5 -
1965 - - $217.3 -
1966 - - $223.8 -
1967 - - $228 -
1968 - - $248.9 -
1969 - - $257.7 -
1970 $479 - $280.5 -
1971 $470 - $320 -
1972 $511 - $415 -
1973 $676 - $493 -
1974 $683 - $624 -
1975 $693 - $741 -
1976 $585 - $752 -
1977 $539 - $830 -
1978 $587 - $946 -
1979 $683 - $1,113 -
1980 $829 - $1,324 -
1981 $830 - $1,247 -
1982 $783 - $1,177 -
1983 $720 - $1,184 -
1984 $735 - $1,143 -
1985 $761 - $1,135 -
1986 $1,043 - $1,187 -
1987 $1,018 - $1,245 -
1988 $847 - $1,266 -
1989 $821 - $1,239 -
1990 $970 $1,504 $1,476 $3,780
1991 $855 $1,540 $1,538 $3,975
1992 $740 $1,556 $1,785 $4,292
1993 $964 $1,581 $1,649 $4,401
1994 $990 $1,623 $1,733 $4,555
1995 $769 $1,663 $1,968 $4,686
1996 $987 $1,693 $2,107 $5,040
1997 $662 $1,714 $2,202 $5,333
1998 $514 $1,754 $2,285 $5,579
1999 $543 $1,802 $2,376 $5,930
2000 $529 $1,830 $2,199 $6,279
2001 $519 $1,898 $2,236 $6,593
2002 $568 $1,945 $2,321 $6,715
2003 $664 $2,094 $2,726 $7,098
2004 $727 $2,171 $3,067 $7,672
2005 $844 $2,329 $3,147 $8,117
2006 $862 $2,551 $3,323 $8,729
2007 $879 $2,650 $3,727 $9,479
2008 $1,082 $2,802 $4,255 $9,975
2009 $1,128 $2,846 $4,080 $10,237
2010 $1,045 $2,859 $4,292 $10,555
2011 $1,220 $2,914 $4,421 $10,436
2012 $1,211 $2,695 $4,297 $10,615
2013 $1,383 $2,946 $4,370 $10,672
2014 $1,490 $3,233 $4,459 $10,947
2015 $1,298 $3,172 $4,015 $10,783
2016 $1,435 $3,320 $3,848 $10,994
2017 $1,556 $3,436 $3,619 $11,289
2018 $1,826 $3,941 $3,628 $11,841
2019 $1,935 $4,655 $3,529 $12,495
2020 $2,167 $5,145 $3,549 $11,918
2021 $2,363 $5,733 $3,907 $12,444
2022 $2,390 $6,034 $3,709 $13,608
2023 $2,941 $6,150 $3,950 $14,010
2024 $3,245 $6,230 $4,350 $14,451

Spending and national debt comparison

In 2024, Sao Tome and Principe's government spending was $148M, accounting for 24.5% of its GDP, while Tunisia's spent $18.1B, or 32.4% of GDP.

Debt-to-GDP ratio is 37.3% in Sao Tome and Principe and 82.9% in Tunisia, ranking 141/185 and 40/185, respectively.

Sao Tome and Principe
Government spending

Government debt
Tunisia
Government spending

Government debt
Year % of GDP
Sao Tome Tunisia
Government spending Government debt Government spending Government debt
1991 - - 27.6% 63.3%
1992 - - 25.7% 62.1%
1993 - - 26.7% 63.8%
1994 - - 25.9% 63.9%
1995 - - 26.6% 65.6%
1996 - - 26.7% 66.8%
1997 - - 24.5% 66.6%
1998 - - 24.2% 58.2%
1999 - - 24% 61.9%
2000 10.7% - 24% 62.9%
2001 52.8% 418% 24% 52.2%
2002 44.3% 367% 24.1% 51.6%
2003 51.9% 329% 23.5% 52.6%
2004 60.6% 354% 23% 51.6%
2005 43.7% 334% 23% 50%
2006 32.5% 283.2% 22.9% 45.7%
2007 38.9% 110.1% 23.3% 42.7%
2008 30.4% 60.7% 23.7% 41.4%
2009 48.6% 70.3% 24.6% 40.3%
2010 51.7% 83% 24% 38.8%
2011 53.4% 86% 27.9% 43.3%
2012 50.5% 86.3% 28.3% 49%
2013 35.5% 77.1% 30.8% 45.6%
2014 36% 67.4% 27.7% 50.7%
2015 41.6% 84.3% 27.4% 52.4%
2016 38.3% 81.7% 27.2% 58.9%
2017 31.9% 74.7% 28.7% 67.1%
2018 28% 71.5% 28.7% 72.9%
2019 22.8% 76.4% 29.5% 67.3%
2020 23.2% 70.8% 34.5% 77.7%
2021 25.6% 59.2% 33.2% 79.7%
2022 27.7% 55.1% 36.5% 82.9%
2023 24.3% 44.7% 35.7% 82.5%
2024 19.3% 43.5% 33.8% 83.1%
2025 24.5% 37.3% 32.4% 82.9%

Government deficit by year

In 2024, Sao Tome and Principe's government surplus, the difference between spending and revenue, was $7.16M, equivalent to 0.94% of GDP. This compares to Tunisia's deficit of -$3.16B, or -5.91% of GDP.

Over the past 25 years, Sao Tome and Principe recorded a fiscal deficit in 17 of those years, while Tunisia ran a deficit in 25 years. On average, Sao Tome and Principe posted an annual surplus equal to +3.63% of GDP, compared to deficit of -4.14% of GDP for Tunisia.

Deficit/surplus
Sao Tome and Principe

Tunisia
Year Deficit/surplus, % of GDP
Sao Tome Tunisia
1991 - -5.25%
1992 - -3.45%
1993 - -3.22%
1994 - -2.87%
1995 - -4.53%
1996 - -5.18%
1997 - -3.7%
1998 - -2.84%
1999 - -3.05%
2000 51.5% -3.22%
2001 -13.5% -2.87%
2002 -10.4% -2.55%
2003 -15.9% -2.64%
2004 -25.1% -2.1%
2005 26.8% -2.59%
2006 18% -2.33%
2007 125.1% -2.47%
2008 13.6% -0.62%
2009 -18% -2.59%
2010 -12.1% -0.46%
2011 -13% -3.19%
2012 -12.3% -4.9%
2013 2.13% -7.05%
2014 -6.27% -3.11%
2015 -7.6% -4.95%
2016 -5.01% -5.87%
2017 -3.11% -5.61%
2018 -2.02% -4.27%
2019 -0.07% -3.6%
2020 2.94% -9.06%
2021 -1.52% -7.6%
2022 -2.24% -6.91%
2023 -2.17% -7.02%
2024 0.94% -5.91%
2025 2.56% -5.43%

Inflation comparison by year

Over the past 30 years, Sao Tome and Principe has recorded an average annual inflation rate of 16.4%, compared with 4.54% in Tunisia. In 2025, inflation was 9.7% in Sao Tome and Principe and 5.9% in Tunisia.

Inflation
Sao Tome and Principe

Tunisia
Year Inflation
Sao Tome Tunisia Sao Tome Tunisia
1996 42% 3.7%
1997 69% 3.6%
1998 42.1% 3.1%
1999 11% 2.8%
2000 11% 2.8%
2001 9.2% 1.9%
2002 10.1% 2.7%
2003 9.8% 2.7%
2004 13.3% 3.7%
2005 17.2% 2%
2006 23.1% 4.1%
2007 18.6% 3.4%
2008 32% 4.9%
2009 17% 3.5%
2010 13.3% 4.4%
2011 14.3% 3.2%
2012 10.6% 4.6%
2013 8.1% 5.3%
2014 7% 4.6%
2015 6.1% 4.4%
2016 5.4% 3.6%
2017 5.7% 5.3%
2018 7.9% 7.3%
2019 7.7% 6.7%
2020 9.8% 5.6%
2021 8.1% 5.7%
2022 18% 8.3%
2023 21.2% 9.3%
2024 14.4% 7%
2025 9.7% 5.9%

Balance of trade

Sao Tome Tunisia
Current account balance
-$79.4M
2022
-$775M
2024
Current account balance ranking
85/189
2022
115/189
2024
Current account balance, % of GDP
-14.7%
2022
-1.45%
2024
Goods imports
$165M
2022
$18.7B
2024
Goods exports
$21.9M
2022
$8.95B
2024
Service imports
$54.6M
2022
$3.92B
2024
Service exports
$75.1M
2022
$11.2B
2024
Imports of goods and services, % of GDP n/a
56.6%
2024
Exports of goods and services, % of GDP
10%
2025
48.4%
2024

Economic freedom indices

The indices of economic freedom below are issued by the Heritage Foundation. Higher scores indicate stronger economic health.

Sao Tome Tunisia
Economic freedom 60.4 49.1
Economic freedom ranking 93/197 166/197
Property rights 53 59.3
Government integrity 47.7 41.3
Judicial effectiveness 60.6 39.7
Tax burden 88.6 79.4
Government spending 81.5 63.1
Fiscal health 93.6 6.4
Business freedom 52.8 56.8
Labor freedom 45.2 56
Monetary freedom 57.2 71.3
Trade freedom 65 56.2
Investment freedom 50 30
Financial freedom 30 30

Economic freedom by year comparison

The Economic Freedom Index for Sao Tome and Principe is 60.4, ranking 93/197, compared to 49.1 for Tunisia, ranking 166/197. The chart below displays a comparison of annual changes in economic freedom indexes.

Sao Tome and Principe
Tunisia
Year Economic freedom index
Sao Tome Tunisia
1995 - 63.4
1996 - 63.9
1997 - 63.8
1998 - 63.9
1999 - 61.1
2000 - 61.3
2001 - 60.8
2002 - 60.2
2003 - 58.1
2004 - 58.4
2005 - 55.4
2006 - 57.5
2007 - 60.3
2008 - 60.1
2009 43.8 58
2010 48.8 58.9
2011 49.5 58.5
2012 50.2 58.6
2013 48 57
2014 48.8 57.3
2015 53.3 57.7
2016 56.7 57.6
2017 55.4 55.7
2018 53.6 58.9
2019 54 55.4
2020 56.2 55.8
2021 55.9 56.6
2022 60.3 54.2
2023 61.5 52.9
2024 60.5 48.8
2025 60.4 49.1

More economic indicators

Sao Tome Tunisia
Services, % of GDP
76.6%
2024
62.1%
2023
Industry, % of GDP
2.91%
2024
23.6%
2023
Agriculture, forestry, and fishing, % of GDP
12.8%
2024
9.33%
2023
GNI, Atlas method
$653M
2024
$47.9B
2024
GNI per capita, PPP
$6,220
2024
$14,090
2024
Total reserves including gold
$46.2M
2023
$9.34B
2024
Total reserves ranking
176/177
2023
80/177
2024
Net foreign direct investment
-$127M
2022
-$725M
2024
Net inflows of foreign direct investment
$21.9M
2024
$760M
2024
Net outflows of foreign direct investment
$1.8M
2024
$34.6M
2024
Servicing debt to the IMF, % of GNI
0.94%
2023
10.5%
2023
Poverty at national poverty lines
66.2%
2020
16.6%
2021
Gross capital formation, % of GDP
n/a
13.4%
2024

GDP per capita map

GDP per capita

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The current account balance is the sum of net trade in goods and services, net earnings from cross-border investments, and net transfer payments. It reflects a country's economic transactions with the rest of the world and is a fundamental component of the balance of payments. A surplus indicates that a country exports more than it imports, while a deficit shows the opposite.

Gross National Income (GNI) measures a country's total income. It encompasses income earned by residents, businesses, and foreign sources, defined as employee compensation and investment profits. GNI adds product taxes not included elsewhere and subtracts subsidies. It accounts for income from residents working abroad but excludes earnings from foreigners within the country.

A negative value for Net Foreign Direct Investment indicates a country is a net receiver of investments, as foreign inflows exceed outflows after Balance of Payments adjustments. A positive value indicates a net provider, with outflows exceeding inflows. Inflows are credits (increasing foreign claims on domestic assets), while outflows are debits (increasing domestic assets abroad).

Foreign direct investment (FDI, net inflows) shows how much capital foreign investors bring into a country after accounting for any funds that flow back in the opposite direction. It represents the net value of overseas companies establishing, expanding, or financing businesses in the reporting country. A positive number means more capital entered the country than was withdrawn, while a negative number means foreign investors pulled out more than they invested.

Foreign direct investment (FDI, net outflows) shows how much capital residents of a country invest abroad after accounting for any funds that flow back in the opposite direction. It represents the net value of domestic companies establishing, expanding, or financing businesses in other countries. A positive number means more capital was invested abroad than withdrawn, while a negative number means residents pulled back more than they invested.

Principal and interest payments to the IMF in currency, goods, or services on long-term debt expressed as a share of GNI.

Formerly gross domestic investment, gross capital formation measures the share of a country’s economic output invested in fixed assets, including buildings, machinery, and infrastructure. It indicates how much of the economy is devoted to building productive capacity.