Cabo Verde: Economy
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Income Level (by per capita GNI) Source: The World Bank Possible values: High Income, Upper Middle Income, Lower Middle Income and Low Income |
Lower Middle Income |
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Level of Development
Source: United Nations Possible values: Developed, In Transition and Developing |
Developing |
| Economic Trivia | Cabo Verde's economy is service-oriented with commerce, transport, tourism, and public services accounting for about three-fourths of GDP. |
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Trade
Source: United Nations Comtrade Note: Top 3 trade partners are calculated by imports + exports. |
Top 3 Trade Partners (2016): Portugal, Spain, and Netherlands |
| 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) | $3,732,628,018 (2017) |
| GDP Growth Rate (annual %) | 3.891% (2017) |
| GDP Per Capita, PPP (current international) | $6,831 (2017) |
GDP Country Rank 166/195 (2017)
Economic Indicators [1]
| Inflation, consumer prices (annual %) | -1.408% (2016) |
| External debt stocks, total (DOD, current US$) | $1,539,390,000 (2016) |
| Total tax rate (% of commercial profits) | 36.6% (2017) |
| Real Interest Rate (5 year average %) | 8.255% (2017) |
| Manufacturing, value added (% of GDP) | 7.759% (2017) |
| Current Account Balance (BoP, current US$) | ($124,641,698) (2017) |
Labor and Employment [1]
| Labor Force, Total | 230,322 (2017) |
| Employment in Agriculture (% of total employment) | 67.654% (2017) |
| Employment in Industry (% of total employment) | 6.938% (2017) |
| Employment in Services (% of total employment) | 25.408% (2017) |
| Unemployment Rate | 10.339% (2017) |
Trade [1]
| Imports of goods and services (current US$) | $1,121,384,369 (2017) |
| Exports of goods and services (current US$) | $686,193,308 (2017) |
| Total Merchandise Trade (% of GDP) | 44.275% (2016) |
| FDI, net inflows (BoP, current US$) | $109,144,061 (2017) |
| Commercial Service Exports (current US$) | $568,951,219 (2016) |
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.