21, Nov 2009, CST. Welcome to the Cape Verde economic statistics pages provided by the beta version of EconomyWatch.com’s Econ Stats database.

Economic Indicators For: Cape Verde › Change country
National or Regional Currency: Caborvediano Escudo, CVE
Year of data: 2008 › Change year
Number of Indicators Listed: 19
Full Dataset: From Year 1980 to 2013
Date of Last Update: 1 Sept 2009
Population: 429,474 (July 2009 est.)
Area: total: 4,033 sq km land: 4,033 sq km water: 0 sq km
Natural Resources: salt, basalt rock, limestone, kaolin, fish, clay, gypsum
Government Type: Cape Verde government type
Government Ministers: Cape Verde ministers
Capital: Praia
Data Sources: IMF, World Bank, UN, OECD, CIA World Factbook

This island economy suffers from a poor natural resource base, including major water shortages exacerbated by cycles of long-term drought. Its economy is service-oriented, with commerce, transport, tourism and transportation, and public services accounting for approximately three-fourths of Gross Domestic Product (GDP). Although nearly 70 per cent of the general populace lives in rural areas, the share of food stuffs production in Gross Domestic Product (GDP) is depressed. Approximately 82 per cent of food stuffs must be imported. The fishing potential, mostly lobster and tuna, is not fully exploited. Cape Verde annually runs a high trade (imports and exports) deficit, financed by foreign aid and remittance inflows from emigrants; remittance inflows supplement Gross Domestic Product (GDP) by more than 20 per cent. economic reform are aimed at developing the private sector and attracting Foreign Direct Investment (FDI) to diversify its economy. Future prospects depend heavily on the maintenance of aid flows, the encouragement of tourism and transportation, remittance inflows, and the momentum of the state's development program. Cape Verde became a member of the World Trade Organisation (WTO) in July 2008.

GDP (Constant Prices, National Currency) for Cape Verde in year 2008 is CVE 106.031 Billion. Real GDP is expressed in billions of national currency units; the base year is country-specific.

GDP Growth (Constant Prices, National Currency) for Cape Verde in year 2008 is 5.885 %. Annual percentages of constant price GDP are year-on-year changes; the base year is country-specific.

GDP (Current Prices, National Currency) for Cape Verde in year 2008 is CVE 129.085 Billion. GDP is expressed in billions of national currency units.

GDP (Current Prices, US Dollars) for Cape Verde in year 2008 is US$ 1.723 Billion. Values are based upon GDP in national currency and the exchange rate projections provided by country economists for the group of other emerging market and developing countries. Exchanges rates for advanced economies are established in the WEO assumptions for each WEO exercise.

GDP Deflator for Cape Verde in year 2008 is 121.742 (Index, Base Year as per country's accounts = 100). The GDP deflator is derived by dividing current price GDP by constant price GDP and is considered to be an alternate measure of inflation. Please note: Data are expressed in the base year of each country's national accounts.

GDP Per Capita (Constant Prices, National Currency) for Cape Verde in year 2008 is CVE 210,568.30 . GDP is expressed in constant national currency per person. Data are derived by dividing constant price GDP by total population.

GDP Per Capita (Current Prices, National Currency) for Cape Verde in year 2008 is CVE 256,350.84 . GDP is expressed in current national currency per person. Data are derived by dividing current price GDP by total population.

GDP Per Capita (Current Prices, US Dollars) for Cape Verde in year 2008 is US$ 3,421.53 . GDP is expressed in current U.S. dollars per person. Data are derived by first converting GDP in national currency to U.S. dollars and then dividing it by total population.

Output Gap, Percent of Potential GDP for Cape Verde in year 2008 is not available

GDP (PPP), US Dollars for Cape Verde in year 2008 is US$ 1.762 Billion. These data form the basis for the country weights used to generate the World Economic Outlook country group composites for the domestic economy. Please note: The IMF is not a primary source for purchasing power parity (PPP) data. WEO weights have been created from primary sources and are used solely for purposes of generating country group composites. For primary source information, please refer to one of the following sources: the Organization for Economic Cooperation and Development, the World Bank, or the Penn World Tables. For further information see Box A2 in the April 2004 World Economic Outlook, Box 1.2 in the September 2003 World Economic Outlook for a discussion on the measurem

GDP Per Capita (PPP), US Dollars for Cape Verde in year 2008 is US$ 3,498.68 . These data form the basis for the country weights used to generate the World Economic Outlook country group composites for the domestic economy. Please note: The IMF is not a primary source for purchasing power parity (PPP) data. WEO weights have been created from primary sources and are used solely for purposes of generating country group composites. For primary source information, please refer to one of the following sources: the Organization for Economic Cooperation and Development, the World Bank, or the Penn World Tables. For further information see Box A2 in the April 2004 World Economic Outlook, Box 1.2 in the September 2003 World Economic Outlook for a discussion on the measurem

GDP Share of World Total (PPP) for Cape Verde in year 2008 is 0.003 %. These data form the basis for the country weights used to generate the World Economic Outlook country group composites for the domestic economy. Please note: The IMF is not a primary source for purchasing power parity (PPP) data. WEO weights have been created from primary sources and are used solely for purposes of generating country group composites. For primary source information, please refer to one of the following sources: the Organization for Economic Cooperation and Development, the World Bank, or the Penn World Tables. For further information see Box A2 in the April 2004 World Economic Outlook, Box 1.2 in the September 2003 World Economic Outlook for a discussion on the measurem

Implied PPP Conversion Rate for Cape Verde in year 2008 is 73.271 . These data form the basis for the country weights used to generate the World Economic Outlook country group composites for the domestic economy. Please note: The IMF is not a primary source for purchasing power parity (PPP) data. WEO weights have been created from primary sources and are used solely for purposes of generating country group composites. For primary source information, please refer to one of the following sources: the Organization for Economic Cooperation and Development, the World Bank, or the Penn World Tables. For further information see Box A2 in the April 2004 World Economic Outlook, Box 1.2 in the September 2003 World Economic Outlook for a discussion on the measurem

Investment (% of GDP) for Cape Verde in year 2008 is not available

Gross National Savings (% of GDP) for Cape Verde in year 2008 is not available

Inflation, Average Consumer Prices (Indexed to Year 2000) for Cape Verde in year 2008 is 123.089 (Index, Base Year 2000 = 100). Data for inflation are averages for the year, not end-of-period data. The index is based on 2000=100.

Inflation (Average Consumer Price Change %) for Cape Verde in year 2008 is 6.793 %. Data for inflation are averages for the year, not end-of-period data.

Inflation, End of Year (Indexed to Year 2000) for Cape Verde in year 2008 is 124.533 (Index, Base Year 2000 = 100). Data for inflation are end of the period, not annual average data. The index is based on 2000=100.

Inflation (End of Year Change %) for Cape Verde in year 2008 is 6.672 %. Data for inflation are end of the period, not annual average data.

Six-month London Interbank Offered Rate (LIBOR) Change % for Cape Verde in year 2008 is not available

Unemployment Rate (% of Labour Force) for Cape Verde in year 2008 is not available

Employment for Cape Verde in year 2008 is not available

Population for Cape Verde in year 2008 is 0.504 Million .

General Government Balance (National Currency) for Cape Verde in year 2008 is not available

General Government Balance (% of GDP) for Cape Verde in year 2008 is not available

General Government Structural Balance (National Currency) for Cape Verde in year 2008 is not available

General Government Structural Balance (% Potential GDP) for Cape Verde in year 2008 is not available

General Government Net Debt (National Currency) for Cape Verde in year 2008 is not available

General Government Net Debt (% GDP) for Cape Verde in year 2008 is not available

General Government Gross Debt (National Currency) for Cape Verde in year 2008 is not available

General Government Gross Debt (% GDP) for Cape Verde in year 2008 is not available

Current Account Balance (US Dollars) for Cape Verde in year 2008 is US$ -0.211 Billion. Balance of payments data are based upon the methodology of the 5th edition of the International Monetary Fund's Balance of Payments Manual (1993). Data for the world total reflects errors, omissions, and asymmetries in balance of payments statistics on current account, as well as the exclusion of data for international organizations and a limited number of countries. Calculated as the sum of the balance of individual countries.

Current Account Balance (% GDP) for Cape Verde in year 2008 is -12.26 %. Balance of payments data are based upon the methodology of the 5th edition of the International Monetary Fund's Balance of Payments Manual (1993). Data for the world total reflects errors, omissions, and asymmetries in balance of payments statistics on current account, as well as the exclusion of data for international organizations and a limited number of countries. Calculated as the sum of the balance of individual countries.