Includes Cape Verde real Gross Domestic Product growth rate, with latest forecasts and historical data, GDP per capita, GDP composition and breakdown by sector.
Browse additional economic indicators and data sets, selected by Global Finance editors, to learn more about Cabo Verde economic outlook, debt to GDP ratio, international trade performance and population trends. Rankings of Cabo Verde best banks and safest banks are also available.
Basic Information
Government Type: Parliamentary republic
Capital City: Praia
GDP & Economic Information
Macroeconomy & Sovereign Data
Central Bank |
Bank of Cape Verde |
---|---|
Currency |
Cabo Verdean escudos (CVE) |
International Reserves |
USD 0.6 billion (2018) International Monetary Fund (IMF), data retrieved October 2019 |
Gross Domestic Product – GDP | USD 2.0 billion (2018, estimate) |
GDP (Purchasing Power Parity) | Intl$ 4.0 billion (2018, estimate) |
GDP Data
Real GDP growth |
Sure, here’s the reformatted list: 2007: 9.2% 2008: 6.7% 2009: -1.3% 2010: 1.5% 2011: 4% 2012: 1.1% 2013: 0.8% 2014: 0.6% 2015: 1% 2016: 4.7% 2017*: 4% 2018*: 4.7% *Estimate |
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GDP per capita – current prices | USD 3,562.7 (2018, estimate) |
GDP per capita – PPP | Intl$ 7,315.6 (2018, estimate) |
GDP (PPP) – share of world total | 0.003% (2019, estimate) |
GDP – composition by sector |
agriculture: 4.7% industry: 19.3% services: 61.1% (2018 estimate) |
Gross domestic expenditure on R&D; (% of GDP) | N/A |
Inflation |
2015: 0.1% 2016: -1.4% 2017: 0.8% 2018*: 1.3% 2019*: 1.2% *Estimate |
Cabo Verde
Inflation & Debt
Inflation |
2015: 0.1% 2016: -1.4% 2017: 0.8% 2018*: 1.3% 2019*: 1.2% *Estimate |
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Government Bond Ratings |
Standard & Poor’s: B Moody’s: N/A Standard & Poor’s / Moody’s |
Unemployment rate |
2015: 10% 2016: 9% 2017*: 9% 2018*: 8.5% 2019*: 8.5% *Estimate |
Household saving rates | N/A |
Public debt (General government gross debt as a % of GDP) |
2015: 126.6% 2016: 128.4% 2017: 127.2% 2018*: 124.5% 2019*: 123.5% *Estimate |
Public deficit (General government net lending/borrowing as a % of GDP) |
2015: -4.6% 2016: -3% 2017: -3% 2018*: -2.8% 2019*: -2.2% *Estimate |
Market value of publicly traded shares | N/A |
Largest Companies | N/A |
Import/Export
Exports as percent of GDP (Exports of goods and services) | 48.9% (2018) |
---|---|
Shares in world total merchandising export |
0.0004% (2018) |
Shares in world total commercial services export |
0.01% (2018) |
Total exports |
USD 970.9 million (2018) |
Export commodities |
Fuel (re-exports), shoes, garments, fish, hides |
Total imports |
USD 1.3 billion (2018 estimate) |
Import commodities |
Foodstuffs, industrial products, transport equipment, fuels |
Exports – major partners |
Spain 45.3%, Portugal 40.3%, Netherlands 8.1% (2017) |
Imports – major partners |
Portugal 43.9%, Spain 11.6%, Netherlands 6.1%, China 6.1% (2017) |
Competitiveness & Trade
Current account balance | USD -0.1 billion (2018 estimate) |
---|---|
Current account balance by percentage of GDP | -4.5 % (2018 estimate) |
FDI inflows |
2016: USD 127 million 2017: USD 111 million 2018: USD 100 million |
FDI Outflows |
2016: USD -9.1 million 2017: USD -13.6 million 2018: USD -19.8 million |
Value of cross-border M&A, by country of purchaser |
N/A United Nations Conference on Trade and Development (UNCTAD) – World Investment Report |
Cross-border M&A deals worth over $3 billion completed in 2014 | N/A |
Cross-border M&A deals worth over $3 billion completed in 2015 | N/A |
Best countries for doing business |
Economies are ranked on their ease of doing business. A high ease of doing business ranking means the regulatory environment is more conducive to the starting and operation of a local firm. Overall ranking: 1 37 out of 190 countries Subcategories: Starting a Business: 121 out of 190 countries Dealing with Construction Permits: 50 out of 190 countries Getting Electricity: 154 out of 190 countries Registering Property: 69 out of 190 countries Getting Credit: 144 out of 190 countries Protecting Minority Investors: 170 out of 190 countries Paying Taxes: 87 out of 190 countries Trading across Borders: 109 out of 190 countries Enforcing Contracts: 52 out of 190 countries Resolving Insolvency: 168 out of 190 countries World Bank – Doing Business 2019 |
Global competitiveness ranking |
112 out of 141 countries (2019) |
Index of Economic Freedom |
Ranking: 73 / Score: 63.1 (Moderately free) (100=totally free 0=totally repressed) |
Population & Geographic Data
Time Zone |
UTC-1 |
---|---|
Total Area |
4,033 sq km |
Total Population |
1990: 0.35 million 2000: 0.44 million 2010: 0.5 million 2015*: 0.53 million 2020*: 0.57 million *Estimate |
Urban population as % of total population |
1960: 16.7% 1980: 23.5% 2000: 53.4% 2018: 65.7% |
Population median age | 25.8 years |
Population growth rate | 1.32% (2018 estimate) |
Life expectancy | 72.7 years (2018 estimate) |
% of population living on less than $3.10 a day | N/A |
Inequality of wealth distribution (Gini index) | N/A |
Freedom House rating |
Free Political Rights: 1 Civil Liberties: 1 (2019) (1 represents the most free, 7 the least free rating) |
Total telephone subscribers as % of population |
Fixed: 11.5% Mobile: 112.2% (2018) (fixed-telephone subscribers and mobile-cellular subscribers) |
Internet users as % of total population |
58.17 % (2018) |
Language & Religon
Languages | Portuguese (official), Crioulo (a blend of Portuguese and West African words) |
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Literacy |
Total population: 86.8% Male: 91.7% Female: 82% Definition: age 15 and over can read and write (2015 est.) |
Religions |
Roman Catholic 77.3%, Protestant 4.6% (includes Church of the Nazarene 1.7%, Adventist 1.5%, Assembly of God 0.9%, Universal Kingdom of God 0.4%, and God and Love 0.1%), other Christian 3.4% (includes Christian Rationalism 1.9%, Jehovah’s Witness 1%, and |
World Rankings
Population | 0.57 M |
---|---|
Mercer Cost of living index | N/A |
C02 Emissions per capita |
0.95 metric tons per capita (2014) |
Global Finance Rankings & Awards: Cabo Verde
Global Finance Magazine holds several conferences and awards ceremonies throughout the year to recognize the winning financial institutions and companies in a host of categories including World’s Best Trade Finance Banks, World's Biggest Banks, World's Safest Banks, World's Best Developed & Emerging Markets Banks, World's Best Internet Banks, and World’s Best Investment Banks.
Data Sources:
IMF World Economic Outlook
UN World Population Prospects
World Inequality Report
S&P Global Ratings
Moody’s
Fitch Ratings
IMF Direction of Trade Statistics (DOTS)
UN Conference on Trade and Development (UNCTAD)
CIA The World Factbook
World Bank’s World Integrated Trade Solution
Forbes Global 2000