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| CAPE VERDEAN ECONOMY STATS: |
| Top Stats |
| | All Stats |
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Agriculture > products
bananas, corn, beans, sweet potatoes, sugarcane, coffee, peanuts; fish |
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Aid as % of GDP
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16.9% |
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[14th of 129]
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Debt > External
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$325,000,000.00 |
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[88th of 136]
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Economic freedom
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1.85 |
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[90th of 156]
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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. |
Exchange rates
Cape Verdean escudos (CVE) per US dollar - 88.808 (2004), 97.703 (2003), 117.168 (2002), 123.228 (2001), 119.687 (2000) |
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Exports
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$76,500,000.00 |
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[150th of 189]
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Exports to US
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$1,300,000.00 |
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[172nd of 224]
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GDP
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$1,143,992,000.00 |
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[144th of 203]
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GDP (purchasing power parity)
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$1,603,000,000.00 |
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[171st of 187]
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GDP > PPP
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$2,751,000,000.00 |
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[148th of 163]
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GDP > Real growth rate
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6.9% |
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[51st of 198]
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GDP growth > annual %
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5.8 annual %
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[59th of 187]
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GDP per capita, PPP > current international $
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5,802.74 PPP $
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[82nd of 169]
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Gross National Income
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$596,376,000.00 |
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[149th of 172]
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Gross national income > constant LCU
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17829820000 |
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Human Development Index
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0.721 |
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[106th of 178]
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Inflation rate (consumer prices)
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4.4% |
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[109th of 192]
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Population below poverty line
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30% |
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[9th of 46]
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Tourist arrivals
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45,000 |
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[134th of 152]
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... View all Economy stats
SOURCES: CIA World Factbook, 28 July 2005; calculated on the basis of data on ODA from OECD (Organisation for Economic Co-operation and Development), Development Assistance Committee. 2002. DAC Online. Database. Paris.; and data on GDP from World Bank. 2002. World Development Indicators 2002. CD-ROM. Washington, DC; All CIA World Factbooks 18 December 2003 to 18 December 2008; The Heritage Foundation; US Census Bureau; World Development Indicators database and CIA World Factbook; World Bank. 2005. World Development Indicators 2005.; World Development Indicators database; ; Human Development Report 2006, United Nations Development Programme; United Nations World Statistics Pocketbook and Statistical Yearbook
ALTERNATIVE NAMES:
Cape Verde, Republic of Cape Verde, Republica de Cabo Verde, Cabo Verde, cape verde islands
Related links:
More facts and figures on Cape Verde
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