São Tomé and Principe (STP), located on the Equator off the coast of West Africa, is Africa’s smallest country in terms of population, with an estimated Gross Domestic Product (GDP) of USD 253 million and GDP per capita of USD 1 222 in 2011. The country is considered a fragile state according to the harmonized African Development Bank (AfDB) and World Bank Country Policy and Institutional Assessment (CPIA) score, which was below 3.2 in 2010. Its vulnerability to exogenous shocks is accompanied by high dependence on agriculture and overseas development assistance (ODA). In 2011, real GDP growth is estimated to have dropped slightly to 4.3% (down from 4.5% in 2010) and was driven mainly by the construction, consumer, retail, tourism and mining sectors. The service sector dominates the economy, accounting for about 60% of GDP in 2010 and 48.6% in 2011 and employing nearly 60% of the workforce. The industrial and agricultural sectors each contributed 20% to GDP. Since 2009, the government has made significant progress in reforming the management of public finances. The measures implemented have led the country to be ranked 12th out of 53 countries in the 2011 Ibrahim Index of African Governance.