World Factbook
Cape Verde
Republica de Cabo Verde
Last updated: 2026-03-28 (today)
Budget
note
note: central government revenues and expenses (excluding grants/extrabudgetary units/social security funds) converted to US dollars at average official exchange rate for year indicated
revenues
$453.182 million (2020 est.)
expenditures
$623.816 million (2020 est.)
Exports
note
note: balance of payments - exports of goods and services in current dollars
Exports 2022
$851.907 million (2022 est.)
Exports 2023
$972.636 million (2023 est.)
Exports 2024
$1.158 billion (2024 est.)
Imports
note
note: balance of payments - imports of goods and services in current dollars
Imports 2022
$1.31 billion (2022 est.)
Imports 2023
$1.428 billion (2023 est.)
Imports 2024
$1.473 billion (2024 est.)
Industries
food and beverages, fish processing, shoes and garments, salt mining, ship repair
Labor force
224,500 (2024 est.)
note: number of people ages 15 or older who are employed or seeking work
Public debt
Public debt 2016
127.6% of GDP (2016 est.)
Remittances
note
note: personal transfers and compensation between resident and non-resident individuals/households/entities
Remittances 2022
14% of GDP (2022 est.)
Remittances 2023
12.5% of GDP (2023 est.)
Remittances 2024
12.1% of GDP (2024 est.)
Exchange rates
Currency
Cabo Verdean escudos (CVE) per US dollar -
Exchange rates 2020
96.796 (2020 est.)
Exchange rates 2021
93.218 (2021 est.)
Exchange rates 2022
104.863 (2022 est.)
Exchange rates 2023
101.805 (2023 est.)
Exchange rates 2024
101.922 (2024 est.)
Debt - external
note
note: present value of external debt in current US dollars
Debt - external 2023
$1.385 billion (2023 est.)
Economic overview
stable, middle-income, developing island economy; strong GDP growth led by tourism sector recovery; sustained poverty reduction through PEDS II development plan; high reliance on foreign remittances and aid to finance external debt
Unemployment rate
note
note: % of labor force seeking employment
Unemployment rate 2022
12.3% (2022 est.)
Unemployment rate 2023
12% (2023 est.)
Unemployment rate 2024
11.9% (2024 est.)
Exports - partners
Spain 46%, Portugal 9%, Togo 7%, Italy 7%, India 6% (2023)
note: top five export partners based on percentage share of exports
Imports - partners
Portugal 29%, Saudi Arabia 11%, Netherlands 9%, Spain 8%, China 7% (2023)
note: top five import partners based on percentage share of imports
Real GDP per capita
note
note: data in 2021 dollars
Real GDP per capita 2022
$8,900 (2022 est.)
Real GDP per capita 2023
$9,300 (2023 est.)
Real GDP per capita 2024
$9,900 (2024 est.)
Real GDP growth rate
note
note: annual GDP % growth based on constant local currency
Real GDP growth rate 2022
15.8% (2022 est.)
Real GDP growth rate 2023
5.4% (2023 est.)
Real GDP growth rate 2024
7.3% (2024 est.)
Agricultural products
sugarcane, tomatoes, coconuts, pulses, goat milk, milk, vegetables, bananas, cabbages, onions (2023)
note: top ten agricultural products based on tonnage
Exports - commodities
fish, refined petroleum, railway cargo containers, shellfish, garments (2023)
note: top five export commodities based on value in dollars
Imports - commodities
refined petroleum, aircraft, cars, fish, railway cargo containers (2023)
note: top five import commodities based on value in dollars
Current account balance
note
note: balance of payments - net trade and primary/secondary income in current dollars
Current account balance 2022
-$78.271 million (2022 est.)
Current account balance 2023
-$64.439 million (2023 est.)
Current account balance 2024
$101.072 million (2024 est.)
Taxes and other revenues
18.4% (of GDP) (2020 est.)
note: central government tax revenue as a % of GDP
GDP (official exchange rate)
$2.768 billion (2024 est.)
note: data in current dollars at official exchange rate
GDP - composition, by end use
note
note: figures may not total 100% due to rounding or gaps in data collection
household consumption
74.7% (2024 est.)
government consumption
20.7% (2024 est.)
investment in inventories
0% (2024 est.)
investment in fixed capital
16% (2024 est.)
exports of goods and services
41.9% (2024 est.)
imports of goods and services
-53.2% (2024 est.)
Population below poverty line
35.2% (2015 est.)
note: % of population with income below national poverty line
Inflation rate (consumer prices)
note
note: annual % change based on consumer prices
Inflation rate (consumer prices) 2022
7.9% (2022 est.)
Inflation rate (consumer prices) 2023
3.7% (2023 est.)
Inflation rate (consumer prices) 2024
1% (2024 est.)
Industrial production growth rate
4.4% (2024 est.)
note: annual % change in industrial value added based on constant local currency
Real GDP (purchasing power parity)
note
note: data in 2021 dollars
Real GDP (purchasing power parity) 2022
$4.6 billion (2022 est.)
Real GDP (purchasing power parity) 2023
$4.848 billion (2023 est.)
Real GDP (purchasing power parity) 2024
$5.2 billion (2024 est.)
Youth unemployment rate (ages 15-24)
male
24.6% (2024 est.)
note
note: % of labor force ages 15-24 seeking employment
total
28.2% (2024 est.)
female
33.8% (2024 est.)
Reserves of foreign exchange and gold
note
note: holdings of gold (year-end prices)/foreign exchange/special drawing rights in current dollars
Reserves of foreign exchange and gold 2022
$729.566 million (2022 est.)
Reserves of foreign exchange and gold 2023
$837.881 million (2023 est.)
Reserves of foreign exchange and gold 2024
$783.106 million (2024 est.)
GDP - composition, by sector of origin
note
note: figures may not total 100% due to non-allocated consumption not captured in sector-reported data
industry
10.5% (2024 est.)
services
69.4% (2024 est.)
agriculture
4.7% (2024 est.)
Household income or consumption by percentage share
note
note: % share of income accruing to lowest and highest 10% of population
lowest 10%
2.2% (2015 est.)
highest 10%
32.3% (2015 est.)
Gini Index coefficient - distribution of family income
note
note: index (0-100) of income distribution; higher values represent greater inequality
Gini Index coefficient - distribution of family income 2015
42.4 (2015 est.)