Cabo Verde

Country Summary

Introduction

Background

The uninhabited islands were discovered and colonized by the Portuguese in the 15th century. Following independence in 1975, a one-party system was established and maintained until multi-party elections were held in 1990. Cabo Verde continues to sustain one of Africa's most stable democratic governments and relatively stable economies.

Geography

Area

total: 4,033 sq km
land: 4,033 sq km
water: 0 sq km

Climate

temperate; warm, dry summer; precipitation meager and erratic

Natural resources

salt, basalt rock, limestone, kaolin, fish, clay, gypsum

People and Society

Population

603,901 (2023 est.)

Ethnic groups

Creole (Mulatto) 71%, African 28%, European 1%

Languages

Portuguese (official), Crioulo (a Portuguese-based Creole language with two main dialects spoken in Cabo Verde and in the Cabo Verdean diaspora worldwide)

Religions

Roman Catholic 72.%, Protestant 4% (includes Adventist 1.9%, Nazarene 1.8%, Assembly of God 0.2%, God is Love 0.1%), Christian Rationalism 1.7%, Muslim 1.3%, Jehovah's Witness 1.2%, Church of Jesus Christ 1%, other Christian 1.3%, other 1.2%, none 15.6%, no response 0.4% (2021 est.)

Population growth rate

1.19% (2023 est.)

Government

Government type

parliamentary republic

Capital

name: Praia

Executive branch

chief of state: President Jose Maria Pereira NEVES (since 9 November 2021)
head of government: Prime Minister Jose Ulisses CORREIA e SILVA (since 22 April 2016)

Legislative branch

description: unicameral National Assembly or Assembleia Nacional (72 seats; members directly elected in multi-seat constituencies by proportional representation vote; members serve 5-year terms)

Economy

Economic overview

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

Real GDP (purchasing power parity)

$3.595 billion (2021 est.)
$3.361 billion (2020 est.)
$3.944 billion (2019 est.)

Real GDP per capita

$6,100 (2021 est.)
$5,800 (2020 est.)
$6,800 (2019 est.)

Agricultural products

sugar cane, tomatoes, bananas, cabbages, coconuts, cassava, pulses, vegetables, milk, goat milk

Industries

food and beverages, fish processing, shoes and garments, salt mining, ship repair

Remittances

16.12% of GDP (2021 est.)
14.43% of GDP (2020 est.)
12.18% of GDP (2019 est.)

Exports

$459.923 million (2021 est.)
$415.242 million (2020 est.)
$1.006 billion (2019 est.)

Exports - partners

Spain 65%, Portugal 14%, Italy 8% (2019)

Exports - commodities

tuna, mackerel, aircraft, other processed and frozen fish, postage stamps and title bond paper documents, mollusks (2021)

Imports

$1.117 billion (2021 est.)
$1.008 billion (2020 est.)
$1.287 billion (2019 est.)

Imports - partners

Portugal 36%, Netherlands 16%, Spain 11%, China 6% (2019)

Imports - commodities

refined petroleum, delivery trucks, coal tar oil, cars, rice (2019)

Exchange rates

Cabo Verdean escudos (CVE) per US dollar -
Exchange rates:
93.218 (2021 est.)
96.796 (2020 est.)
98.495 (2019 est.)
93.414 (2018 est.)
97.807 (2017 est.)


Page last updated: Tuesday, February 13, 2024