Cape Verde - Economic Indicators

Economic Overview

Cabo Verde’s economy is vulnerable to external shocks and depends on development aid, foreign investment, remittances, and tourism. The economy is service-oriented with commerce, transport, tourism, and public services accounting for about three-fourths of GDP. Tourism is the mainstay of the economy and depends on conditions in the euro-zone countries. Cabo Verde annually runs a high trade deficit financed by foreign aid and remittances from its large pool of emigrants; remittances as a share of GDP are one of the highest in Sub-Saharan Africa. Although about 40% of...

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GDP Reference Last Previous Units Frequency
Private Consumption 2016 90,087,675,505 81,971,622,644 CVE Annual
Investment 2016 60,507,232,054 61,470,101,303 CVE Annual
Nominal Gross Domestic Product 2016 163,381,388,233 158,699,114,253 CVE Annual
Government Consumption 2015 29,135 27,701 Mil. CVE Annual
Nominal Fixed Investment (gross fixed capital formation) 2014 53,317,000,000 46,336,836,830 NCU Annual
Real Fixed Investment (gross fixed capital formation) 2013 42,387,512,000 48,317,814,500 NCU Annual
Real Investment 2013 44,283,786,600 50,857,600,300 NCU Annual
Real Gross Domestic Product 2004 121.98 116.98 Index 2000=100 Annual
Price Reference Last Previous Units Frequency
Consumer Price Index (CPI) Feb 2018 108.74 108.64 2010=100, NSA Monthly
Labor Reference Last Previous Units Frequency
Labor Force 2017 230,112 224,850 # Annual
Unemployment Rate 2017 10.7 10.6 % of total labor force Annual
Unemployment 1995 0.64 0.6 Ths. Annual
Trade Reference Last Previous Units Frequency
Exports of Goods 2017 Q4 61,394,894 40,096,163 USD, NSA Quarterly
Balance of Goods 2017 Q4 -188,524,448 -164,918,808 USD, NSA Quarterly
Current Account Balance 2017 Q4 -26,639,505 -24,809,159 USD, NSA Quarterly
Imports of Goods 2017 Q4 249,919,343 205,014,971 USD, NSA Quarterly
Exports of Goods and Services 2016 73,658,338,332 66,513,135,105 CVE Annual
Imports of Goods and Services 2016 104,145,936,312 93,748,886,246 CVE Annual
Real Imports of Goods and Services 2013 73,790,077,800 78,799,634,000 NCU Annual
Real Exports of Goods and Services 2013 53,773,992,800 53,458,308,500 NCU Annual
Government Reference Last Previous Units Frequency
Government Budget Balance 2011 -17,190 -14,221 current LCU Annual
Government Revenues 2009 35,268,096,588 39,389,413,570 NCU Annual
Markets Reference Last Previous Units Frequency
Treasury Bills (over 31 days) Dec 2017 1 1 % p.a., NSA Monthly
Lending Rate Jun 2017 1.5 3.5 % Monthly
Demographics Reference Last Previous Units Frequency
Population 2016 539,560 532,913 # Annual
Birth Rate 2015 21.14 21.41 # per Ths. pop. Annual
Death Rate 2015 5.61 5.67 # per Ths. pop. Annual
Net Migration 2012 -11,052 # Annual

Factbook

Background

Background:
The uninhabited islands were discovered and colonized by the Portuguese in the 15th century; Cabo Verde subsequently became a trading center for African slaves and later an important coaling and resupply stop for whaling and transatlantic shipping. The fusing of European and various African cultural traditions is reflected in Cabo Verde’s Crioulo language, music, and pano textiles. Following independence in 1975, and a tentative interest in unification with Guinea-Bissau, a one-party system was established and maintained until multi-party elections were held in 1990. Cabo Verde continues to sustain one of Africa's most stable democratic governments. Repeated droughts during the second half of the 20th century caused significant hardship and prompted heavy emigration. As a result, Cabo Verde's expatriate population is greater than its domestic one. Most Cabo Verdeans have both African and Portuguese antecedents. Cabo Verde’s population descends from its first permanent inhabitants in the late 15th-century – a preponderance of West African slaves, a small share of Portuguese colonists, and even fewer Italians, Spaniards, and Portuguese Jews. Among the nine inhabited islands, population distribution is variable. Islands in the east are very dry and are only sparsely settled to exploit their extensive salt deposits. The more southerly islands receive more precipitation and support larger populations, but agriculture and livestock grazing have damaged their soil fertility and vegetation. For centuries, the country’s overall population size has fluctuated significantly, as recurring periods of famine and epidemics have caused high death tolls and emigration.

Geography

Location:
Western Africa, group of islands in the North Atlantic Ocean, west of Senegal
Geographic coordinates:
16 00 N, 24 00 W
Map references:
Africa
Area:
total: 4,033 sq km
land: 4,033 sq km
water: 0 sq km
country comparison to the world: 176
Area - comparative:
slightly larger than Rhode Island
Land boundaries:
0 km
Coastline:
965 km
Maritime claims:
measured from claimed archipelagic baselines
territorial sea: 12 nm
contiguous zone: 24 nm
exclusive economic zone: 200 nm
Climate:
temperate; warm, dry summer; precipitation meager and erratic
Terrain:
steep, rugged, rocky, volcanic
Elevation:
mean elevation: NA
elevation extremes: lowest point: Atlantic Ocean 0 m
highest point: Mt. Fogo 2,829 m (a volcano on Fogo Island)
Natural resources:
salt, basalt rock, limestone, kaolin, fish, clay, gypsum
Land use:
agricultural land: 18.6%
arable land 11.7%; permanent crops 0.7%; permanent pasture 6.2%
forest: 21%
other: 60.4% (2011 est.)
Irrigated land:
35 sq km (2012)
Population - distribution:
among the nine inhabited islands, population distribution is variable; islands in the east are very dry and are only sparsely settled to exploit their extensive salt deposits; the more southerly islands receive more precipitation and support larger populations, but agriculture and livestock grazing have damaged the soil fertility and vegetation; approximately half of the population lives on Sao Tiago Island, which is the location of the capital of Praia; Mindelo, on the northern island of Sao Vicente, also has a large urban population
Natural hazards:
prolonged droughts; seasonal harmattan wind produces obscuring dust; volcanically and seismically active
volcanism: Fogo (2,829 m), which last erupted in 1995, is Cabo Verde's only active volcano
Environment - current issues:
soil erosion; deforestation due to demand for firewood; water shortages; desertification; environmental damage has threatened several species of birds and reptiles; illegal beach sand extraction; overfishing
Environment - international agreements:
party to: Biodiversity, Climate Change, Climate Change-Kyoto Protocol, Desertification, Endangered Species, Environmental Modification, Hazardous Wastes, Law of the Sea, Marine Dumping, Ozone Layer Protection, Ship Pollution, Wetlands
signed, but not ratified: none of the selected agreements
Geography - note:
strategic location 500 km from west coast of Africa near major north-south sea routes; important communications station; important sea and air refueling site

People & Society

Population:
560,899 (July 2017 est.)
country comparison to the world: 173
Nationality:
noun: Cabo Verdean(s)
adjective: Cabo Verdean
Ethnic groups:
Creole (mulatto) 71%, African 28%, European 1%
Languages:
Portuguese (official), Crioulo (a blend of Portuguese and West African words)
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 New Apostolic 0.5%), Muslim 1.8%, other 1.3%, none 10.8%, unspecified 0.7% (2010 est.)
Demographic profile:
Cabo Verde’s population descends from its first permanent inhabitants in the late 15th-century – a preponderance of West African slaves, a small share of Portuguese colonists, and even fewer Italians, Spaniards, and Portuguese Jews. Over the centuries, the country’s overall population size has fluctuated significantly, as recurring periods of famine and epidemics have caused high death tolls and emigration.
Labor migration historically reduced Cabo Verde’s population growth and still provides a key source of income through remittances. Expatriates probably outnumber Cabo Verde’s resident population, with most families having a member abroad. Cabo Verdeans have settled in the US, Europe, Africa, and South America. The largest diaspora community in New Bedford, Massachusetts, dating to the early 1800s, is a byproduct of the transatlantic whaling industry. Cabo Verdean men fleeing poverty at home joined the crews of US whaling ships that stopped in the islands. Many settled in New Bedford and stayed in the whaling or shipping trade, worked in the textile or cranberry industries, or operated their own transatlantic packet ships that transported compatriots to the US. Increased Cabo Verdean emigration to the US coincided with the gradual and eventually complete abolition of slavery in the archipelago in 1878.
During the same period, Portuguese authorities coerced Cabo Verdeans to go to Sao Tome and Principe and other Portuguese colonies in Africa to work as indentured laborers on plantations. In the 1920s, when the US implemented immigration quotas, Cabo Verdean emigration shifted toward Portugal, West Africa (Senegal), and South America (Argentina). Growing numbers of Cabo Verdean labor migrants headed to Western Europe in the 1960s and 1970s. They filled unskilled jobs in Portugal, as many Portuguese sought out work opportunities in the more prosperous economies of northwest Europe. Cabo Verdeans eventually expanded their emigration to the Netherlands, where they worked in the shipping industry. Migration to the US resumed under relaxed migration laws. Cabo Verdean women also began migrating to southern Europe to become domestic workers, a trend that continues today and has shifted the gender balance of Cabo Verdean emigration.
Emigration has declined in more recent decades due to the adoption of more restrictive migration policies in destination countries. Reduced emigration along with a large youth population, decreased mortality rates, and increased life expectancies, has boosted population growth, putting further pressure on domestic employment and resources. In addition, Cabo Verde has attracted increasing numbers of migrants in recent decades, consisting primarily of people from West Africa, Portuguese-speaking African countries, Portugal, and China. Since the 1990s, some West African migrants have used Cabo Verde as a stepping stone for illegal migration to Europe.
Age structure:
0-14 years: 29.13% (male 82,157/female 81,227)
15-24 years: 20.11% (male 56,401/female 56,391)
25-54 years: 39.64% (male 108,081/female 114,234)
55-64 years: 5.94% (male 14,547/female 18,761)
65 years and over: 5.19% (male 11,012/female 18,088) (2017 est.)
population pyramid:
Dependency ratios:
total dependency ratio: 55.4
youth dependency ratio: 48.4
elderly dependency ratio: 6.9
potential support ratio: 14.4 (2015 est.)
Median age:
total: 25.4 years
male: 24.6 years
female: 26.2 years (2017 est.)
country comparison to the world: 155
Population growth rate:
1.33% (2017 est.)
country comparison to the world: 85
Birth rate:
20 births/1,000 population (2017 est.)
country comparison to the world: 79
Death rate:
6 deaths/1,000 population (2017 est.)
country comparison to the world: 163
Net migration rate:
-0.6 migrant(s)/1,000 population (2017 est.)
country comparison to the world: 129
Population distribution:
among the nine inhabited islands, population distribution is variable; islands in the east are very dry and are only sparsely settled to exploit their extensive salt deposits; the more southerly islands receive more precipitation and support larger populations, but agriculture and livestock grazing have damaged the soil fertility and vegetation; approximately half of the population lives on Sao Tiago Island, which is the location of the capital of Praia; Mindelo, on the northern island of Sao Vicente, also has a large urban population
Urbanization:
urban population: 66.8% of total population (2017)
rate of urbanization: 1.8% annual rate of change (2015-20 est.)
Major urban areas - population:
PRAIA (capital) 145,000 (2014)
Sex ratio:
at birth: 1.03 male(s)/female
0-14 years: 1.01 male(s)/female
15-24 years: 1 male(s)/female
25-54 years: 0.94 male(s)/female
55-64 years: 0.75 male(s)/female
65 years and over: 0.61 male(s)/female
total population: 0.94 male(s)/female (2016 est.)
Maternal mortality rate:
42 deaths/100,000 live births (2015 est.)
country comparison to the world: 103
Infant mortality rate:
total: 21.9 deaths/1,000 live births
male: 25.1 deaths/1,000 live births
female: 18.6 deaths/1,000 live births (2017 est.)
country comparison to the world: 75
Life expectancy at birth:
total population: 72.4 years
male: 70.1 years
female: 74.8 years (2017 est.)
country comparison to the world: 149
Total fertility rate:
2.24 children born/woman (2017 est.)
country comparison to the world: 96
Health expenditures:
4.8% of GDP (2014)
country comparison to the world: 147
Physicians density:
0.31 physicians/1,000 population (2011)
Hospital bed density:
2.1 beds/1,000 population (2010)
Drinking water source:
improved:
urban: 94% of population
rural: 87.3% of population
total: 91.7% of population
unimproved:
urban: 6% of population
rural: 12.7% of population
total: 8.3% of population (2015 est.)
Sanitation facility access:
improved:
urban: 81.6% of population
rural: 54.3% of population
total: 72.2% of population
unimproved:
urban: 1.4% of population
rural: 45.7% of population
total: 27.8% of population (2015 est.)
HIV/AIDS - adult prevalence rate:
0.8% (2016 est.)
country comparison to the world: 48
HIV/AIDS - people living with HIV/AIDS:
2,800 (2016 est.)
country comparison to the world: 114
HIV/AIDS - deaths:
<100 (2016 est.)
Major infectious diseases:
note: active local transmission of Zika virus by Aedes species mosquitoes has been identified in this country (as of August 2016); it poses an important risk (a large number of cases possible) among US citizens if bitten by an infective mosquito; other less common ways to get Zika are through sex, via blood transfusion, or during pregnancy, in which the pregnant woman passes Zika virus to her fetus (2016)
Obesity - adult prevalence rate:
11.8% (2016)
country comparison to the world: 134
Education expenditures:
5% of GDP (2013)
country comparison to the world: 76
Literacy:
definition: age 15 and over can read and write
total population: 86.8%
male: 91.7%
female: 82% (2015 est.)
School life expectancy (primary to tertiary education):
total: 13 years
male: 13 years
female: 13 years (2015)

Government

Country name:
conventional long form: Republic of Cabo Verde
conventional short form: Cabo Verde
local long form: Republica de Cabo Verde
local short form: Cabo Verde
etymology: the name derives from Cap-Vert (Green Cape) on the Senegalese coast, the westernmost point of Africa and the nearest mainland to the islands
Government type:
parliamentary republic
Capital:
name: Praia
geographic coordinates: 14 55 N, 23 31 W
time difference: UTC-1 (4 hours ahead of Washington, DC, during Standard Time)
Administrative divisions:
22 municipalities (concelhos, singular - concelho); Boa Vista, Brava, Maio, Mosteiros, Paul, Porto Novo, Praia, Ribeira Brava, Ribeira Grande, Ribeira Grande de Santiago, Sal, Santa Catarina, Santa Catarina do Fogo, Santa Cruz, Sao Domingos, Sao Filipe, Sao Lourenco dos Orgaos, Sao Miguel, Sao Salvador do Mundo, Sao Vicente, Tarrafal, Tarrafal de Sao Nicolau
Independence:
5 July 1975 (from Portugal)
National holiday:
Independence Day, 5 July (1975)
Constitution:
history: previous 1981; latest effective 25 September 1992
amendments: proposals require support of at least four-fifths of the active National Assembly membership; amendment drafts require sponsorship of at least one-third of the active Assembly membership; passage requires at least two-thirds majority vote by the Assembly membership; constitutional sections including those on national independence, form of government, political pluralism, suffrage, and human rights and liberties cannot be amended; revised 1995, 1999, 2010 (2017)
Legal system:
civil law system of Portugal
International law organization participation:
has not submitted an ICJ jurisdiction declaration; accepts ICCt jurisdiction
Citizenship:
citizenship by birth: no
citizenship by descent only: at least one parent must be a citizen of Cabo Verde
dual citizenship recognized: yes
residency requirement for naturalization: 5 years
Suffrage:
18 years of age; universal
Executive branch:
chief of state: President Jorge Carlos FONSECA (since 9 September 2011)
head of government: Prime Minister Ulisses CORREIA E. SILVA (since 22 April 2016)
cabinet: Council of Ministers appointed by the president on the recommendation of the prime minister
elections/appointments: president directly elected by absolute majority popular vote in 2 rounds if needed for a 5-year term (eligible for a second term); election last held on 2 October 2016 (next to be held in 2021); prime minister nominated by the National Assembly and appointed by the president
election results: Jorge Carlos FONSECA reelected president; percent of vote - Jorge Carlos FONSECA (MPD) 74%, Albertino GRACA (independent) 23%, other 3%
Legislative branch:
description: unicameral National Assembly or Assembleia Nacional (72 seats; members directly elected in multi-seat constituencies by proportional representation vote; members serve 5-year terms)
elections: last held on 20 March 2016 (next to be held in 2021)
election results: percent of vote by party MPD 54.5%, PAICV 38.2%, UCID 6.96%, Other 0.4%; seats by party - MPD 40, PAICV 29, UCID 3
Judicial branch:
highest court(s): Supreme Court of Justice (consists of the chief justice and at least 7 judges and organized into civil, criminal, and administrative sections)
judge selection and term of office: judge appointments - 1 by the president of the republic, 1 elected by the National Assembly, and 3 by the Superior Judicial Council (SJC), a 16-member independent body chaired by the chief justice and includes the attorney general, 8 private citizens, 2 judges, 2 prosecutors, the senior legal inspector of the Attorney General's office, and a representative of the Ministry of Justice; chief justice appointed by the president of the republic from among peers of the Supreme Court of Justice and in consultation with the SJC; judges appointed for life
subordinate courts: appeals courts, first instance (municipal) courts; audit, military, and fiscal and customs courts
Political parties and leaders:
African Party for Independence of Cabo Verde or PAICV [Janira Hopffer ALMADA]
Democratic and Independent Cabo Verdean Union or UCID [Antonio MONTEIRO]
Democratic Christian Party or PDC [Manuel RODRIGUES]
Democratic Renovation Party or PRD [Victor FIDALGO]
Movement for Democracy or MPD [Ulisses CORREIA E SILVA]
Party for Democratic Convergence or PCD [Dr. Eurico MONTEIRO]
Party of Work and Solidarity or PTS [Anibal MEDINA]
Social Democratic Party or PSD [Joao ALEM]
Political pressure groups and leaders:
other: environmentalists; political pressure groups
International organization participation:
ACP, AfDB, AOSIS, AU, CD, CPLP, ECOWAS, FAO, G-77, IAEA, IBRD, ICAO, ICCt (signatory), ICRM, IDA, IFAD, IFC, IFRCS, ILO, IMF, IMO, Interpol, IOC, IOM, IPU, ITSO, ITU, ITUC (NGOs), MIGA, NAM, OIF, OPCW, UN, UNCTAD, UNESCO, UNIDO, Union Latina, UNWTO, UPU, WCO, WHO, WIPO, WMO, WTO
Diplomatic representation in the US:
chief of mission: Ambassador Carlos VEIGA (since 18 January 2017)
chancery: 3415 Massachusetts Avenue NW, Washington, DC 20007
telephone: [1] (202) 965-6820
FAX: [1] (202) 965-1207
consulate(s) general: Boston
Diplomatic representation from the US:
chief of mission: Ambassador Donald L. HEFLIN (since 5 February 2015)
embassy: Rua Abilio Macedo 6, Praia
mailing address: C. P. 201, Praia
telephone: [238] 2-60-89-00
FAX: [238] 2-61-13-55
Flag description:
five unequal horizontal bands; the top-most band of blue - equal to one half the width of the flag - is followed by three bands of white, red, and white, each equal to 1/12 of the width, and a bottom stripe of blue equal to one quarter of the flag width; a circle of 10 yellow, five-pointed stars is centered on the red stripe and positioned 3/8 of the length of the flag from the hoist side; blue stands for the sea and the sky, the circle of stars represents the 10 major islands united into a nation, the stripes symbolize the road to formation of the country through peace (white) and effort (red)
National symbol(s):
ten, five-pointed, yellow stars; national colors: blue, white, red, yellow
National anthem:
name: "Cantico da Liberdade" (Song of Freedom)
lyrics/music: Amilcar Spencer LOPES/Adalberto Higino Tavares SILVA
note: adopted 1996

Economy

Economy - overview:
Cabo Verde’s economy is vulnerable to external shocks and depends on development aid, foreign investment, remittances, and tourism. The economy is service-oriented with commerce, transport, tourism, and public services accounting for about three-fourths of GDP. Tourism is the mainstay of the economy and depends on conditions in the euro-zone countries. Cabo Verde annually runs a high trade deficit financed by foreign aid and remittances from its large pool of emigrants; remittances as a share of GDP are one of the highest in Sub-Saharan Africa.
Although about 40% of the population lives in rural areas, the share of food production in GDP is low. The island economy suffers from a poor natural resource base, including serious water shortages, exacerbated by cycles of long-term drought, and poor soil for growing food on several of the islands, requiring it to import most of what it consumes. The fishing potential, mostly lobster and tuna, is not fully exploited.
Economic reforms are aimed at developing the private sector and attracting foreign investment to diversify the economy and mitigate high unemployment. The government’s elevated debt levels have limited its capacity to finance any shortfalls.
GDP (purchasing power parity):
$3.529 billion (2016 est.)
$3.357 billion (2015 est.)
$3.288 billion (2014 est.)
note: data are in 2016 dollars
country comparison to the world: 180
GDP (official exchange rate):
$1.64 billion (2016 est.)
GDP - real growth rate:
3.8% (2016 est.)
1% (2015 est.)
0.6% (2014 est.)
country comparison to the world: 67
GDP - per capita (PPP):
$6,600 (2016 est.)
$6,500 (2015 est.)
$6,500 (2014 est.)
note: data are in 2016 dollars
country comparison to the world: 157
Gross national saving:
33.3% of GDP (2016 est.)
33.8% of GDP (2015 est.)
27.9% of GDP (2014 est.)
country comparison to the world: 23
GDP - composition, by end use:
household consumption: 54.3%
government consumption: 17.6%
investment in fixed capital: 33.9%
investment in inventories: 0.2%
exports of goods and services: 44.7%
imports of goods and services: -50.7% (2016 est.)
GDP - composition, by sector of origin:
agriculture: 8.1%
industry: 18.2%
services: 73.7% (2016 est.)
Agriculture - products:
bananas, corn, beans, sweet potatoes, sugarcane, coffee, peanuts; fish
Industries:
food and beverages, fish processing, shoes and garments, salt mining, ship repair
Industrial production growth rate:
3.2% (2016 est.)
country comparison to the world: 76
Labor force:
196,100 (2007 est.)
country comparison to the world: 174
Unemployment rate:
9% (2016 est.)
12.4% (2015 est.)
country comparison to the world: 169
Population below poverty line:
30% (2000 est.)
Household income or consumption by percentage share:
lowest 10%: 1.9%
highest 10%: 40.6% (2000)
Budget:
revenues: $433.6 million
expenditures: $473 million (2016 est.)
Taxes and other revenues:
26.5% of GDP (2016 est.)
country comparison to the world: 108
Budget surplus (+) or deficit (-):
-2.4% of GDP (2016 est.)
country comparison to the world: 97
Public debt:
123.9% of GDP (2016 est.)
120.8% of GDP (2015 est.)
country comparison to the world: 7
Fiscal year:
calendar year
Inflation rate (consumer prices):
-1.4% (2016 est.)
0.1% (2015 est.)
country comparison to the world: 8
Central bank discount rate:
7.5% (31 December 2010)
7.5% (31 December 2009)
country comparison to the world: 43
Commercial bank prime lending rate:
9.61% (31 December 2016 est.)
10.41% (31 December 2015 est.)
country comparison to the world: 86
Stock of narrow money:
$607.2 million (31 December 2016 est.)
$557.5 million (31 December 2015 est.)
country comparison to the world: 163
Stock of broad money:
$1.601 billion (31 December 2016 est.)
$1.526 billion (31 December 2015 est.)
country comparison to the world: 162
Stock of domestic credit:
$1.327 billion (31 December 2016 est.)
$1.324 billion (31 December 2015 est.)
country comparison to the world: 162
Current account balance:
$-61 million (2016 est.)
$-78.7 million (2015 est.)
country comparison to the world: 68
Exports:
$148.4 million (2016 est.)
$149.2 million (2015 est.)
country comparison to the world: 190
Exports - commodities:
fuel (re-exports), shoes, garments, fish, hides
Exports - partners:
Australia 48.6%, Spain 20.2%, Portugal 18.9% (2016)
Imports:
$691 million (2016 est.)
$630.7 million (2015 est.)
country comparison to the world: 186
Imports - commodities:
foodstuffs, industrial products, transport equipment, fuels
Imports - partners:
Portugal 43%, Spain 12.8%, France 5.9%, China 5%, Russia 4.4% (2016)
Reserves of foreign exchange and gold:
$572.7 million (31 December 2016 est.)
$494.5 million (31 December 2015 est.)
country comparison to the world: 140
Debt - external:
$1.688 billion (31 December 2016 est.)
$1.52 billion (31 December 2015 est.)
country comparison to the world: 152
Exchange rates:
Cabo Verdean escudos (CVE) per US dollar -
99.688 (2016 est.)
99.688 (2015 est.)
99.426 (2014 est.)
83.114 (2013 est.)
85.82 (2012 est.)

Energy

Electricity access:
population without electricity: 153,027
electrification - total population: 70.6%
electrification - urban areas: 84.4%
electrification - rural areas: 46.8% (2012)
Electricity - production:
469 million kWh (2015 est.)
country comparison to the world: 169
Electricity - consumption:
436.2 million kWh (2015 est.)
country comparison to the world: 172
Electricity - exports:
0 kWh (2016 est.)
country comparison to the world: 126
Electricity - imports:
0 kWh (2016 est.)
country comparison to the world: 139
Electricity - installed generating capacity:
157,500 kW (2015 est.)
country comparison to the world: 168
Electricity - from fossil fuels:
76.8% of total installed capacity (2015 est.)
country comparison to the world: 93
Electricity - from nuclear fuels:
0% of total installed capacity (2015 est.)
country comparison to the world: 74
Electricity - from hydroelectric plants:
0% of total installed capacity (2015 est.)
country comparison to the world: 169
Electricity - from other renewable sources:
23.2% of total installed capacity (2015 est.)
country comparison to the world: 26
Crude oil - production:
0 bbl/day (2016 est.)
country comparison to the world: 123
Crude oil - exports:
0 bbl/day (2014 est.)
country comparison to the world: 111
Crude oil - imports:
0 bbl/day (2014 est.)
country comparison to the world: 115
Crude oil - proved reserves:
0 bbl (1 January 2017 es)
country comparison to the world: 123
Refined petroleum products - production:
0 bbl/day (2014 est.)
country comparison to the world: 132
Refined petroleum products - consumption:
6,000 bbl/day (2015 est.)
country comparison to the world: 172
Refined petroleum products - exports:
0 bbl/day (2014 est.)
country comparison to the world: 146
Refined petroleum products - imports:
5,328 bbl/day (2014 est.)
country comparison to the world: 164
Natural gas - production:
0 cu m (2016 est.)
country comparison to the world: 124
Natural gas - consumption:
0 cu m (2016 est.)
country comparison to the world: 172
Natural gas - exports:
0 cu m (2016 est.)
country comparison to the world: 90
Natural gas - imports:
0 cu m (2016 est.)
country comparison to the world: 114
Natural gas - proved reserves:
0 cu m (1 January 2016 es)
country comparison to the world: 130
Carbon dioxide emissions from consumption of energy:
400,000 Mt (2013 est.)
country comparison to the world: 187

Communications

Telephones - fixed lines:
total subscriptions: 59,730
subscriptions per 100 inhabitants: 11 (July 2016 est.)
country comparison to the world: 156
Telephones - mobile cellular:
total: 625,851
subscriptions per 100 inhabitants: 113 (July 2016 est.)
country comparison to the world: 166
Telephone system:
general assessment: effective system, extensive modernization from 1996-2000 following partial privatization in 1995
domestic: major service provider is Cabo Verde Telecom; fiber-optic ring, completed in 2001, links all islands providing Internet access and ISDN services; cellular service introduced in 1998; broadband services launched in 2004
international: country code - 238; landing point for the Atlantis-2 fiber-optic transatlantic telephone cable that provides links to South America, Senegal, and Europe; HF radiotelephone to Senegal and Guinea-Bissau; satellite earth station - 1 Intelsat (Atlantic Ocean) (2015)
Broadcast media:
state-run TV and radio broadcast network plus a growing number of private broadcasters; Portuguese public TV and radio services for Africa are available; transmissions of a few international broadcasters are available (2007)
Internet country code:
.cv
Internet users:
total: 266,562
percent of population: 48.2% (July 2016 est.)
country comparison to the world: 153

Transportation

National air transport system:
number of registered air carriers: 2
inventory of registered aircraft operated by air carriers: 5
annual passenger traffic on registered air carriers: 567,182
annual freight traffic on registered air carriers: 1,728,152 mt-km (2015)
Civil aircraft registration country code prefix:
D4 (2016)
Airports:
9 (2013)
country comparison to the world: 157
Airports - with paved runways:
total: 9
over 3,047 m: 1
1,524 to 2,437 m: 3
914 to 1,523 m: 3
under 914 m: 2 (2017)
Roadways:
total: 1,350 km
paved: 932 km
unpaved: 418 km (2013)
country comparison to the world: 180
Merchant marine:
total: 13
by type: cargo 3, chemical tanker 2, passenger/cargo 7, petroleum tanker 1
foreign-owned: 3 (Greece 1, Spain 1, UK 1)
registered in other countries: 1 (unknown 1) (2010)
country comparison to the world: 104
Ports and terminals:
major seaport(s): Porto Grande

Military & Security

Military expenditures:
0.63% of GDP (2016)
0.57% of GDP (2015)
0.54% of GDP (2014)
0.53% of GDP (2013)
0.56% of GDP (2012)
Military branches:
Armed Forces: Army (also called the National Guard, GN), Cabo Verde Coast Guard (Guardia Costeira de Cabo Verde, GCCV, includes naval infantry) (2013)
Military service age and obligation:
18-35 years of age for male and female selective compulsory military service; 2-years conscript service obligation; 17 years of age for voluntary service (with parental consent) (2013)

Transnational Issues

Disputes - international:
none
Refugees and internally displaced persons:
stateless persons: 115 (2016)
Illicit drugs:
used as a transshipment point for Latin American cocaine destined for Western Europe, particularly because of Lusophone links to Brazil, Portugal, and Guinea-Bissau; has taken steps to deter drug money laundering, including a 2002 anti-money laundering reform that criminalizes laundering the proceeds of narcotics trafficking and other crimes and the establishment in 2008 of a Financial Intelligence Unit

Economic Indicators for Cape Verde including actual values, historical data, and latest data updates for the Cape Verde economy.