Cape Verde

Quick Facts

🇨🇻
Capital:
Praia
Official Language(s):
Portuguese
Currency:
Cape Verdean escudo (Esc)
Population:
555,988

Overview

Cape Verde or Cabo Verde, officially the Republic of Cabo Verde, is an island country and archipelagic state of West Africa in the central Atlantic Ocean, consisting of ten volcanic islands with a combined land area of about 4,033 square kilometres (1,557 sq mi). These islands lie between 600 and 850 kilometres west of Cap-Vert, the westernmost point of continental Africa. The Cape Verde islands form part of the Macaronesia ecoregion, along with the Azores, the Canary Islands, Madeira and the Savage Isles.

Institutional Framework

The strength of a country's institutions directly impacts its economic development and stability. Strong institutions reduce uncertainty, protect property rights, and enable efficient markets through:
  • Rule of law and contract enforcement
  • Control of corruption
  • Government effectiveness and regulatory quality

* Indicators normalized to 0-100 scale

Economic Structure

The composition of an economy reveals its strengths, vulnerabilities, and potential for growth. Understanding the balance between sectors (agriculture, industry, services) and their sophistication helps assess economic resilience and development opportunities.

Economic Health & Trade

Economic Scale & Power

An economy with $2,051,842,609.646B(2021) GDP, showing strong growth at 7.0%(2021). Emerging economy with development potential.

GDP Growth
7.0%(2021)
GDP PPP
$3,970,664,151.461

Economic Structure

Economic structure shows 68.5%(2021) in services, 12.5%(2021) in industry, and 6.0%(2021) in agriculture. Balanced economic structure.

Economic Health & Trade

Economic health indicators show 14.0%(2021) unemployment and 1.9%(2021) inflation. Trade profile with 23.8%(2021) exports and 53.6%(2021) imports as % of GDP.

Unemployment
14.0%(2021)
Inflation
1.9%(2021)
Exports/GDP
23.8%(2021)
Imports/GDP
53.6%(2021)

Innovation & Competitiveness

Innovation capacity determines a country's ability to compete in the global knowledge economy. Key indicators like R&D investment, patent applications, and high-tech exports reveal the potential for sustainable economic growth and value creation.

High-Tech Exports

2.0

% of manufactured exports

ICT Exports

N/A

% of total goods exports

Digital Adoption

71.4

% of population using internet

Mobile Connectivity

100.4

Subscriptions per 100 people

Manufacturing Value

5.4

% of GDP

International Position

A country's integration into global markets affects its economic opportunities and risks. Trade relationships, financial flows, and geographic advantages or constraints shape its development trajectory and resilience to external shocks.

Financial & Trade Geography

Trade Profile

Trade represents 77.46%(2021) of GDP, with a trade balance of -29.76%(2021).

FDI Inflows
4.46%(2021)
FDI Outflows
-0.03%(2021)

Financial Security

External Debt

124.71%(2021)

Foreign Reserves

$0.77B(2021)(7.9 months of imports)

Supply Chain & Technology

Technology Trade

ICT Imports
N/A
High-Tech Exports
2.04%(2021)

Economic Structure

Manufacturing
5.39%(2021)
Services
68.54%(2021)

Trade Agreements & Dependencies

Trade Agreements

No major trade agreements

Critical Dependencies

    Growth Trajectory

    Understanding growth patterns helps predict future economic performance and development challenges. Key factors include productivity trends, investment levels, and structural transformation progress, which together determine long-term prosperity potential.

    Growth Potential Indicators

    Human Capital

    Education and workforce development

    21.4/100

    Trade Position

    International trade and competitiveness

    19.1/100

    Economic Structure

    Sectoral balance and sophistication

    32.8/100

    Demographics & Human Capital

    Demographics are fundamental to understanding a country's economic potential and challenges. The population structure influences everything from labor force availability to social security systems and public spending priorities.

    Demographics

    Population Overview

    Total population of 516,649(2021) with 0.4%(2021) annual growth. Median age is N/A with fertility rate at 1.896 births/woman(2021).

    Life Expectancy
    74.052 years(2021)
    Birth Rate
    16.951 per 1,000(2021)

    Age Structure

    Working-age population (65.9%(2021)) with youth at 28.0%(2021) and elderly at 6.1%(2021). Total dependency ratio: 51.8%(2021).

    Young Dependency
    42.5%(2021)
    Old Dependency
    9.3%(2021)

    Gender & Migration

    Population is 49.1%(2021) female and 50.9%(2021) male, with sex ratio of 1.033 males/female(2021) at birth. Net migration: N/A.

    Male Mortality
    203.608/1,000(2021)
    Female Mortality
    74.232/1,000(2021)

    Development Indicators

    Urban population growing at 1.1%(2021) annually, with 32.9%(2021) in rural areas. Literacy rate: N/A.

    Urbanization
    67.1%(2021)
    Infant Mortality
    11 per 1,000(2021)

    Population Structure

    The population pyramid visualizes the age and gender distribution, revealing crucial insights about economic sustainability. A balanced pyramid with a strong working-age population (typically ages 15-64) indicates greater economic potential, as this group supports both the younger and older generations through:
    • Labor force participation and productivity
    • Tax contributions to support social services
    • Innovation and economic growth

    An aging population (top-heavy pyramid) or youth bulge (bottom-heavy) can create demographic pressures on social systems and economic stability.

    Source: World Bank Development Indicators

    Security Context

    Security considerations fundamentally affect economic development and investment attractiveness. Both geographic factors and military capabilities influence a country's stability and its ability to protect economic interests and maintain sustainable growth.

    Geographic & Resource Security

    Food & Agriculture

    Arable land comprises 12.4%(2021) of territory, with 19.6%(2021) total agricultural land. Cereal yield: 16.3 kg/hectare(2021).

    Food Production Index
    75.92(2021)
    Cereal Production
    449 MT(2021)

    Energy Security

    Net energy imports at N/A of consumption. Renewable energy makes up 95.5%(2021) of total. Electricity access: N/A.

    Resource Rents
    N/A

    Water Resources

    Fresh water resources of 228 m³/capita(2021) per person. Annual precipitation: 11.419 mm(2021).

    Forest Area
    0.6%(2021)

    Environmental Vulnerability

    580.7%(2021) of population affected by climate disasters. Forest coverage at 0.6%(2021) providing natural buffer.

    Annual Rainfall
    11.419 mm(2021)

    Military & Security

    Military Capabilities

    Military expenditure at N/A of GDP. Armed forces personnel: N/A ( N/A of labor force).

    Arms Exports
    N/A
    Arms Imports
    N/A

    Strategic Status

    Military Alliances

    No major military alliances

    Nuclear Status

    Non-Nuclear State

    Security Environment

    Refugee population: 23,691(2021)Internally displaced: 25,348(2021)

    Strategic Geography

    Strategic Features