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Cape Verde

Headline economic indicators for Cape Verde, with the most recent official readings.

Prices

Prices — Cape Verde
Indicator Value Change
Inflation rate · 2.3% +1.30 (+123.6%)
Consumer price index · 131.1 +3.00 (+2.3%)
GDP deflator inflation · 1.7% +0.35 (+25.3%)

GDP

GDP — Cape Verde
Indicator Value Change
GDP growth rate · 6.3% -0.69 (-9.9%)
GDP per capita · 5,796.47 +626.27 (+12.1%)
GDP per capita, long-run history · 7,203 +1,030 (+16.7%)
GDP · 3,056,630,435.32 +342,908,578 (+12.6%)
GDP, PPP · 6,415,078,425 +544,475,760 (+9.3%)
GDP per capita, PPP · 12,165 +980.58 (+8.8%)
GDP per capita growth · 5.8% -0.67 (-10.3%)
GNI per capita · 5,590 +650.00 (+13.2%)
Agriculture to GDP · 5.0% +0.09 (+1.8%)
Industry to GDP · 10.7% +0.01 (+0.1%)
Manufacturing to GDP · 5.2% +0.03 (+0.6%)
Services to GDP · 67.9% -0.91 (-1.3%)
Household consumption to GDP · 71.1% -1.93 (-2.6%)
Gross capital formation to GDP · 17.4% +1.09 (+6.7%)
Gross savings to GDP · 21.1% +0.89 (+4.4%)

Labour

Labour — Cape Verde
Indicator Value Change
Unemployment rate · 11.9% +0.06 (+0.5%)
Labour force participation rate · 57.0% -0.01 (-0.0%)
Female labour force participation rate · 50.5% +0.04 (+0.1%)
Youth unemployment rate · 28.4% +0.31 (+1.1%)
Employment to population ratio · 50.2% -0.04 (-0.1%)
Employment in agriculture · 9.2% -0.32 (-3.4%)
Employment in industry · 23.1% +0.18 (+0.8%)
Employment in services · 67.7% +0.14 (+0.2%)

Money

Money — Cape Verde
Indicator Value Change
Real interest rate · 5.9% -0.41 (-6.5%)
Broad money to GDP · 94.2% +0.92 (+1.0%)
Private sector credit to GDP · 54.0% -0.57 (-1.0%)
Lending rate · 7.7% -0.04 (-0.6%)
Bank deposit rate · 1.5% -0.14 (-8.4%)
Official exchange rate · 97.86 -4.06 (-4.0%)

Trade

Trade — Cape Verde
Indicator Value Change
Current account to GDP · 3.6% -0.39 (-9.8%)
Exports to GDP · 42.0% -0.70 (-1.6%)
Imports to GDP · 53.4% -0.87 (-1.6%)
Trade to GDP · 95.3% -1.57 (-1.6%)
Exports of goods and services · 1,283,053,104.6 +124,856,401 (+10.8%)
Imports of goods and services · 1,630,785,620.93 +159,324,619 (+10.8%)
Trade balance, goods and services (annual) · -352,907,592.43 -39,590,524 (-12.6%)
Current account balance (annual) · 108,713,512.95 +1,746,862 (+1.6%)
Foreign direct investment to GDP · 5.0% +0.98 (+24.3%)
Remittances received to GDP · 11.7% -0.63 (-5.2%)
Total reserves, including gold · 1,258,902,686.26 +475,797,128 (+60.8%)
Reserves in months of imports · 8.7 +2.69 (+44.9%)
External debt to GNI · 86.9% -11.25 (-11.5%)

Government

Government — Cape Verde
Indicator Value Change
Government revenue to GDP · 21.6% -0.08 (-0.4%)
Government expense to GDP · 30.9% +7.01 (+29.3%)
Tax revenue to GDP · 18.4% +0.16 (+0.9%)
Government budget balance to GDP · -9.4% -6.01 (-179.1%)
Government consumption to GDP · 22.9% +0.67 (+3.0%)
Education spending to GDP · 4.3% -0.38 (-8.0%)
Health spending to GDP · 5.8% -0.85 (-12.7%)

Demography

Demography — Cape Verde
Indicator Value Change
Population · 527,326 +2,449 (+0.5%)
Population, long-run history · 590 +5.20 (+0.9%)
Population growth · 0.5% -0.02 (-4.3%)
Life expectancy · 76.2 +0.17 (+0.2%)
Fertility rate · 1.51 -0.01 (-0.7%)
Birth rate · 12.2 -0.11 (-0.9%)
Death rate · 5.1 +0.04 (+0.7%)
Urban population share · 77.6% +0.86 (+1.1%)
Population aged 65 and over · 7.2% +0.30 (+4.3%)
Under-five mortality rate · 11.1 -0.50 (-4.3%)
Population density · 130.2 +0.63 (+0.5%)
Net migration · -1,284 -75.00 (-6.2%)
Gini index · 42.4 -4.80 (-10.2%)

Source: Bolt, J. and van Zanden, J.L. (2024), Maddison style estimates of the evolution of the world economy: A new 2023 update, Journal of Economic Surveys, 1-41, DOI 10.1111/joes.12618. Licensed under CC BY 4.0. The original sources are listed on each page.

All data sources

Original sources of these estimates

GDP pc: 2008 - 2022: Total Economy Database the Conference Board for all countries included in TED. Otherwise UN national accounts statistics

No separate list is published for Cape Verde; the database as a whole is cited above.

Economies nearby

Comparable readings from neighbouring economies.