Economic Trivia

Cabo Verde's economy is service-oriented with commerce, transport, tourism, and public services accounting for about three-fourths of GDP.

Trade Source: United Nations Comtrade
Note: Top 3 trade partners are calculated by imports + exports.

Top 3 Trade Partners (2020): Portugal, Netherlands, and Spain
Top 3 Exported Goods (2020): Prepared Meats, Pharmaceuticals, and Apparel: Knit

Top Industries Source: CIA World Factbook

Food and Beverages; Fish Processing; Shoes and Garments; Salt Mining

Gross Domestic Product (GDP) [1]

GDP, PPP (current international) $5,387,476,065 (2022)
GDP Growth Rate (annual %) 17.714% (2022)
GDP Per Capita, PPP (current international) $9,083 (2022)
Click on a row to display its 5-year graph on the right.

GDP Country Rank 170/197 (2022)

GDP Composition %

Note: GDP composition percentage may exceed 100. Manufacturing is included in the Industry figures and is also reported separately because it plays a critical role in many economies.

Economic Indicators [1]

Inflation, consumer prices (annual %) 1.862% (2021)
External debt stocks, total (DOD, current US$) $2,059,769,906 (2021)
Total tax rate (% of commercial profits) 37.5% (2019)
Real Interest Rate (5 year average %) 1.318% (2022)
Manufacturing, value added (% of GDP) 4.661% (2022)
Current Account Balance (BoP, current US$) ($76,944,118) (2022)
Click on a row to display its 5-year graph on the right.

Labor and Employment [1]

Labor Force, Total 245,779 (2022)
Employment in Agriculture (% of total employment) 10.978% (2021)
Employment in Industry (% of total employment) 22.159% (2021)
Employment in Services (% of total employment) 66.862% (2021)
Unemployment Rate 13.57% (2022)
Click on a row to display its 5-year graph on the right.

Trade [1]

Imports of goods and services (current US$) $1,319,665,258 (2022)
Exports of goods and services (current US$) $890,955,005 (2022)
Total Merchandise Trade (% of GDP) 40.09% (2022)
FDI, net inflows (BoP, current US$) $122,385,812 (2022)
Commercial Service Exports (current US$) $542,124,851 (2022)
Click on a row to display its 5-year graph on the right.

Economic Snapshot [1]

Note: Percentile ranks are calculated using the latest available data for all countries within the last 5 years.

How to interpret the graph: The purpose of this graph is to take a snapshot of a country’s economy in comparison to other economies. For example, Cabo Verde’s Exports rank is higher than (please wait...) of the countries in the dataset. For Exports, FDI and GDP measures, a higher rank (closer to 100%) indicates a stronger economy. Conversely, for Unemployment and Inflation, a lower rank (closer to 0%) indicates a stronger economy.

Due to unavailable data the following indicators have been omitted:
  • Exports
  • FDI, net inflows
  • GDP Growth Rate
  • GDP Per Capita
  • Inflation
  • Unemployment

Sources

  1. The World Bank