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Economic overview
Cabo Verde — 36 years of data
Historical Values
| Year | Value |
|---|---|
| 1990 | Cape Verde's low per capita GDP reflects a poor natural resource base, a 17-year drought, and a high birth rate. The economy is service oriented, with commerce, transport, and public services accounting for 60% of GDP during the period 1984-86. Although nearly 70% of the population lives in rural areas, agriculture's share of GDP is only 16%; the fishing and manufacturing sectors are 4% each. About 90% of food must be imported. The fishing potential of the islands is not fully exploited (the fis |
| 1991 | Cape Verde's low per capita GDP reflects a poor natural resource base, a 17-year drought, and a high birthrate. The economy is service oriented, with commerce, transport, and public services accounting for 65% of GDP during the period 1985-88. Although nearly 70% of the population lives in rural areas, agriculture's share of GDP is only 16%; the fishing sector accounts for 4%. About 90% of food must be imported. The fishing potential, mostly lobster and tuna, is not fully exploited. In 1988 fish |
| 1992 | Cape Verde's low per capita GDP reflects a poor natural resource base, a 17-year drought, and a high birthrate. The economy is service oriented, with commerce, transport, and public services accounting for 65% of GDP during the period 1985-88. Although nearly 70% of the population lives in rural areas, agriculture's share of GDP is only 16%; the fishing sector accounts for 4%. About 90% of food must be imported. The fishing potential, mostly lobster and tuna, is not fully exploited. In 1988 fish |
| 1993 | Cape Verde's low per capita GDP reflects a poor natural resource base, a serious, long-term drought, and a high birthrate. The economy is service oriented, with commerce, transport, and public services accounting for 60% of GDP. Although nearly 70% of the population lives in rural areas, agriculture's share of GDP is only 16%; the fishing sector accounts for 4%. About 90% of food must be imported. The fishing potential, mostly lobster and tuna, is not fully exploited. In 1988 fishing represented |
| 1994 | Cape Verde's low per capita GDP reflects a poor natural resource base, a serious, long-term drought, and a high birthrate. The economy is service oriented, with commerce, transport, and public services accounting for 60% of GDP. Although nearly 70% of the population lives in rural areas, agriculture's share of GDP is only 20%; the fishing sector accounts for 4%. About 90% of food must be imported. The fishing potential, mostly lobster and tuna, is not fully exploited. In 1988 fishing represented |
| 1995 | Cape Verde's low per capita GDP reflects a poor natural resource base, serious water shortages exacerbated by cycles of long-term drought, and a high birthrate. The economy is service oriented, with commerce, transport, and public services accounting for 60% of GDP. Although nearly 70% of the population lives in rural areas, agriculture's share of GDP is only 20%; the fishing sector accounts for 4%. About 90% of food must be imported. The fishing potential, mostly lobster and tuna, is not fully |
| 1996 | Cape Verde's low per capita GDP reflects a poor natural resource base, serious water shortages exacerbated by cycles of long-term drought, and a high birthrate. The economy is service oriented, with commerce, transport, and public services accounting for 60% of GDP. Although nearly 70% of the population lives in rural areas, the share of agriculture in GNP is only 13%, of which fishing accounts for 4%. About 90% of food must be imported. The fishing potential, mostly lobster and tuna, is not ful |
| 1997 | Cape Verde's low per capita GDP reflects a poor natural resource base, serious water shortages exacerbated by cycles of long-term drought, and a high birthrate. The economy is service oriented, with commerce, transport, and public services accounting for almost 70% of GDP. Although nearly 70% of the population lives in rural areas, the share of agriculture in GNP is only 14%, of which fishing accounts for 4%. About 90% of food must be imported. The fishing potential, mostly lobster and tuna, is |
| 1998 | Cape Verde's low per capita GDP reflects a poor natural resource base, serious water shortages exacerbated by cycles of long-term drought, and a high birth rate. The economy is service-oriented, with commerce, transport, and public services accounting for almost 70% of GDP. Although nearly 70% of the population lives in rural areas, the share of agriculture in GDP in 1995 was only 8%, of which fishing accounts for 1.5%. About 90% of food must be imported. The fishing potential, mostly lobster an |
| 1999 | Cape Verde's low per capita GDP reflects a poor natural resource base, including serious water shortages exacerbated by cycles of long-term drought. The economy is service-oriented, with commerce, transport, and public services accounting for almost 70% of GDP. Although nearly 70% of the population lives in rural areas, the share of agriculture in GDP in 1995 was only 8%, of which fishing accounts for 1.5%. About 90% of food must be imported. The fishing potential, mostly lobster and tuna, is no |
| 2000 | Cape Verde's low per capita GDP reflects a poor natural resource base, including serious water shortages exacerbated by cycles of long-term drought. The economy is service-oriented, with commerce, transport, and public services accounting for almost 70% of GDP. Although nearly 70% of the population lives in rural areas, the share of agriculture in GDP in 1998 was only 13%, of which fishing accounts for 1.5%. About 90% of food must be imported. The fishing potential, mostly lobster and tuna, is n |
| 2001 | Cape Verde's low per capita GDP reflects a poor natural resource base, including serious water shortages exacerbated by cycles of long-term drought. The economy is service-oriented, with commerce, transport, and public services accounting for almost 70% of GDP. Although nearly 70% of the population lives in rural areas, the share of agriculture in GDP in 1998 was only 13%, of which fishing accounts for 1.5%. About 90% of food must be imported. The fishing potential, mostly lobster and tuna, is n |
| 2002 | Cape Verde 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, and public services accounting for 70% of GDP. Although nearly 70% of the population lives in rural areas, the share of agriculture in GDP in 2001 was only 11%, of which fishing accounts for 1.5%. About 82% of food must be imported. The fishing potential, mostly lobster and tuna, is not fully exploited. Cape |
| 2003 | 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 72% of GDP. Although nearly 70% of the population lives in rural areas, the share of agriculture in GDP in 2001 was only 11%, of which fishing accounts for 1.5%. About 82% of food must be imported. The fishing potential, mostly lobster and tuna, is not ful |
| 2004 | 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 72% of GDP. Although nearly 70% of the population lives in rural areas, the share of agriculture in GDP in 2001 was only 11%, of which fishing accounted for 1.5%. About 82% of food must be imported. The fishing potential, mostly lobster and tuna, is not fu |
| 2005 | 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 72% of GDP. Although nearly 70% of the population lives in rural areas, the share of agriculture in GDP in 2004 was only 12%, of which fishing accounted for 1.5%. About 82% of food must be imported. The fishing potential, mostly lobster and tuna, is not fu |
| 2006 | 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 66% of GDP. Although nearly 70% of the population lives in rural areas, the share of agriculture in GDP in 2004 was only 12%, of which fishing accounted for 1.5%. About 82% of food must be imported. The fishing potential, mostly lobster and tuna, is not fu |
| 2007 | 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 66% of GDP. Although nearly 70% of the population lives in rural areas, the share of food production in GDP in 2004 was only 12%, of which fishing accounted for 1.5%. About 82% of food must be imported. The fishing potential, mostly lobster and tuna, is no |
| 2008 | 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 annua |
| 2009 | 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 annua |
| 2010 | This island economy suffers from a poor natural resource base, including serious water shortages exacerbated by cycles of long-term drought and poor soil for agriculture on several of the islands. 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 lob |
| 2011 | This island economy suffers from a poor natural resource base, including serious water shortages exacerbated by cycles of long-term drought and poor soil for agriculture on several of the islands. The economy is service oriented with commerce, transport, tourism, and public services accounting for about three-fourths of GDP. Although about 40% 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 lobs |
| 2012 | The economy is service oriented with commerce, transport, tourism, and public services accounting for about three-fourths of GDP. This island economy suffers from a poor natural resource base, including serious water shortages exacerbated by cycles of long-term drought and poor soil for agriculture on several of the islands. Although about 40% 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 lobs |
| 2013 | The economy is service-oriented with commerce, transport, tourism, and public services accounting for about three-fourths of GDP. This island economy suffers from a poor natural resource base, including serious water shortages exacerbated by cycles of long-term drought and poor soil for agriculture on several of the islands. Although about 40% 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 lobs |
| 2014 | 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 it is heavily dependent on conditions in the euro zone countries. This island economy suffers from a poor natural resource base, including serious water shortages exacerbated by cycles of long-term drought and poor soil for agriculture on several of the islands. Although about 40% of the population lives in rural areas, the s |
| 2015 | 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. 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 nat |
| 2016 | 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 |
| 2017 | 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 |
| 2018 | Cabo Verde’s economy 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-Sa |
| 2019 | Cabo Verde’s economy 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-Sa |
| 2020 | Cabo Verde’s economy 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-Sa |
| 2021 | Cabo Verde’s economy 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-Sa |
| 2022 | Cabo Verde s economy 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-Sa |
| 2023 | tourism-dominated economy benefits from the country s relative close proximity to Europe; 2009 Financial Crisis halted economic growth for seven years; leveraging export-based growth; COVID-19 decimated economic growth and recovery; high external debt |
| 2024 | 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 |
| 2025 | 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 |