San Theodoros - Economy

Economy

The Spanish colonists saw San Theodoros being rich in chocolate, coffee, corn, and gold. Oil reserves in the country were never proved. The economy, in the national sense, was controlled by rich foreign firms. As of 1970, the estimated GNP (Gross National Product) stood at $45.0 million, and the per capita at a measly $11. Slow economic growth characterized the entirety of Tapioca's three terms. Alcazar's return to power and a quick stabilization of politics in 1976 paved way for increase in tourism potential and an increase of GNP to $306 million.

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