| Economy | Cape Verde |
 = Fields  = World Records  = Dictionary  = Bar graph  = Distribution map  = Fields History  = Definitions |
Economy - overview:
|
This island economy suffers from a poor natural resource base, including serious water shortages exacerbated by cycles of long-term drought. The economy is service-oriented, with commerce, transport, tourism, and public services accounting for about three-fourths of GDP. Although nearly 70% of the population lives in rural areas, the share of food production in GDP is low. About 82% of food must be imported. The fishing potential, mostly lobster and tuna, is not fully exploited. Cape Verde annually runs a high trade deficit, financed by foreign aid and remittances from emigrants; remittances supplement GDP by more than 20%. Economic reforms are aimed at developing the private sector and attracting foreign investment to diversify the economy. Future prospects depend heavily on the maintenance of aid flows, the encouragement of tourism, remittances, and the momentum of the government's development program. Cape Verde became a member of the WTO in July 2008. |
GDP (purchasing power parity):
|
$1.635 billion (2008 est.)
$1.542 billion (2007)
$1.443 billion (2006)
note: data are in 2008 US dollars |
GDP - per capita (PPP):
|
$3,800 (2008 est.)
$3,600 (2007 est.)
$3,400 (2006 est.)
note: data are in 2008 US dollars |
GDP (official exchange rate):
|
$1.845 billion (2008 est.) |
GDP - real growth rate:
|
6% (2008 est.)
6.9% (2007 est.)
10.8% (2006 est.) |
GDP - composition by sector:
|
agriculture: 9%
industry: 16.9%
services: 74.1% (2008 est.) |
Investment (gross fixed):
|
41.3% of GDP (2008 est.) |
Population below poverty line:
|
30% (2000) |
Household income or consumption by percentage share:
|
lowest 10%: NA%
highest 10%: NA% |
Distribution of family income - Gini index:
|
void |
Inflation rate (consumer prices):
|
5% (2008 est.) |
Central bank discount rate:
|
8.5% (31 December 2007) |
Commercial bank prime lending rate:
|
10.55% (31 December 2007) |
Stock of money:
|
$574 million (31 December 2007) |
Stock of money - per capita:
|
1,337 USD per capita |
Stock of quasi money:
|
$689 million (31 December 2007) |
Stock of quasi money - per capita:
|
1,605 USD per capita |
Stock of domestic credit:
|
$1.049 billion (31 December 2007) |
Stock of domestic credit - per capita:
|
2,443 USD per capita |
Labor force:
|
120,600 (1990) |
Labor force participation rate:
|
28.08 % of population |
Labor force - by occupation:
|
void |
Unemployment rate:
|
21% (2000 est.) |
Budget:
|
revenues: $525.4 million
expenditures: $585.3 million (2008 est.) |
Budget revenues per capita:
|
1,224 USD per capita |
Public debt:
|
void |
Industries:
|
food and beverages, fish processing, shoes and garments, salt mining, ship repair |
Industrial production growth rate:
|
8% (2008 est.) |
Electricity - production:
|
47 million kWh (2006 est.) |
Electricity - production per capita:
|
110 kWh per capita |
Electricity - consumption:
|
43.71 million kWh (2006 est.) |
Electricity - consumption - per capita:
|
102 kWh per capita |
Electricity - exports:
|
0 kWh (2007 est.) |
Electricity - imports:
|
0 kWh (2007 est.) |
Oil - production:
|
0 bbl/day (2007 est.) |
Oil - production per capita:
|
void |
Oil - consumption:
|
2,117 bbl/day (2006 est.) |
Oil - consumption - per capita:
|
1.80 bbl/year per capita |
Oil - exports:
|
0 bbl/day (2005) |
Oil - imports:
|
1,785 bbl/day (2005) |
Oil - proved reserves:
|
0 bbl (1 January 2006 est.) |
Natural gas - production:
|
0 cu m (2007 est.) |
Natural gas - production per capita:
|
void |
Natural gas - consumption:
|
0 cu m (2007 est.) |
Natural gas - consumption - per capita:
|
void |
Natural gas - exports:
|
0 cu m (2007 est.) |
Natural gas - imports:
|
0 cu m (2007 est.) |
Natural gas - proved reserves:
|
0 cu m (1 January 2006 est.) |
Agriculture - products:
|
bananas, corn, beans, sweet potatoes, sugarcane, coffee, peanuts; fish |
Current account balance:
|
-$167 million (2008 est.) |
Current account balance - per capita:
|
-388 USD per capita |
Exports:
|
$102 million f.o.b. (2008 est.) |
Exports per capita:
|
238 USD per capita |
Exports - commodities:
|
fuel, shoes, garments, fish, hides |
Exports - partners:
|
Spain 37.2%, Portugal 29.9%, Morocco 7%, US 6.6% (2007) |
Imports:
|
$887 million f.o.b. (2008 est.) |
Imports per capita:
|
2,066 USD per capita |
Imports - commodities:
|
foodstuffs, industrial products, transport equipment, fuels |
Imports - partners:
|
Portugal 40.7%, Netherlands 10.9%, France 6.5%, Spain 5.6%, Cote d'Ivoire 4.9%, Brazil 4.7%, Italy 4.7% (2007) |
Reserves of foreign exchange and gold:
|
$459 million (31 December 2008 est.) |
Reserves of foreign exchange and gold - per capita:
|
1,069 USD per capita |
Debt - external:
|
$325 million (2002) |
Debt - external - per capita:
|
757 USD per capita |
Stock of direct foreign investment - at home:
|
void |
Stock of direct foreign investment - at home - per capita:
|
void |
Stock of direct foreign investment - abroad:
|
void |
Stock of direct foreign investment - abroad - per capita:
|
void |
Market value of publicly traded shares:
|
void |
Market value of publicly traded shares - per capita:
|
void |
Economic aid - donor:
|
void |
Economic aid - recipient:
|
$160.6 million (2005) |
Economic aid - recipient per capita:
|
374 USD per capita |
Currency (code):
|
Cape Verdean escudo (CVE) |
Exchange rates:
|
Cape Verdean escudos (CVE) per US dollar - 73.84 (2008 est.), 81.235 (2007), 87.946 (2006), 88.67 (2005), 88.808 (2004) |
Fiscal year:
|
calendar year |
|
= Fields = World Records = Dictionary = Bar graph = Distribution map = Fields History = Definitions |
|
Home 
Geographic Names
Chiefs of State
Intl. Organizations
Intl. Environmental Agree.
Other References
