According to figures provided by the Portuguese Investment and Foreign Trade Agency (AICEP), based on information from the INE, Portuguese exports of goods to Sao Tome and Principe rose to 29.9 million euros between January and June of this year versus 27.9 million euros in the same period last year, a rise of 7.2 percent.
On the other hand, imports of goods fell 55.3% in the first six months of the year, compared to the same period last year, falling from 1.6 million euros to 0.7 million euros.
Thus, in this period, the trade balance showed a positive balance in Portugal’s favour of €29.2 million, above the €26.3 million recorded in the first half of 2021.
In this period, São Tomé and Príncipe was the 62nd client of Portugal, with an export share of 0.08%, and the 132nd supplier.
Food products (25.8% of the total), agricultural products (19.3% of the total), machinery and equipment (15.1% of the total) and base metals (5.6% of the total) represent the main products exported by Portugal to this country in this period, with fuels and minerals showing the greatest growth in relation to the same period last year (+72%; representing 2.8% of total exports) and hides and skins the greatest fall (-50.1%; representing 0.1% of the total).
In imports, food products (72.5% of the total), base metals (13.4% of the total), chemicals (8.4% of the total); foodstuffs (2.9% of the total) and machinery and apparatus (1.5% of the total) led the way, with cellulose pulp and paper registering the highest growth (+467%; 0.1% of the total) and clothing and other products the biggest falls (-100%).
In 2021, Portuguese exports of goods to São Tomé and Príncipe stood at 56.7 million euros, while imports amounted to 2.6 million euros, with a trade balance of 54.1 million euros.
Last year, Sao Tome and Principe was the 56th client of Portuguese exports of goods and the 125th supplier.
With regard to the trade balance of services, Portuguese exports to this country increased 8% in 2021 compared to the previous year, to 9.5 million euros, while imports rose 18.7% to 19.7 million euros, with a negative balance for Portugal of 10.2 million euros.
In total, Portugal’s exports of goods and services to São Tomé and Príncipe rose 11.9% in 2021 compared to 2020, to €65.8 million.
Imports rose 24.3 percent to 22 million euros, with a balance of 43.7 million euros.
According to figures provided by AICEP, based on Bank of Portugal data, Sao Tome and Principe’s Foreign Direct Investment in Portugal (FDI) in June this year totalled 8.9 million euros, compared to 50.1 million euros of Portuguese Direct Investment Abroad (PFDI) in the country in the same month.
If FDI represents an increase of 1.3% compared to the same month last year, the IPDE rose by 13.6%.
Thus, the balance was positive for Portugal at 41.2 million euros in June this year, while in the same period of 2021 it stood at 35.3 million euros.