|Basic Information||Cape Verde is located in the middle of the Atlantic Ocean, and it is at the crossroads connecting the three major continents – America, Africa and Europe. The land area is 4,033 square kilometres, accommodating a population of about 540,000. There are about 3,000 Chinese living in Capeo Verde. The capital Praia is the political, economic, cultural and financial centre of the country.|
Cape Verde has stable political situation and considerable social harmony and economic development. It has also diverse culture, simple folkways and a healthily operating legal system. Its per capita income and quality of life are among the highest in Africa. The country has a superior geographical location, stable political environment and abundant marine resources. The tourism industry and renewable energy have great development potential.
Doing Business 2020 –the World Bank’s report on business environment – pointed out that Cape Verde’s score has improved in terms of cross-border trade, starting up business, electricity access and property registration.
The Cape Verdean economy is dominated by service sector, which accounts for about 75% of GDP. Tourism is the main source of economic growth and employment, with 85% of foreign investment in tourism. In addition, the fishing industry plays an important role in economy. The country has an exclusive marine economic zone of 734,000 square kilometres. The fishery resources are relatively rich, which has not yet been fully developed and utilised.
The main export destinations of Cape Verde include Spain, Portugal, Italy and the United States. The main export goods are fuel (re-export), fish and crustaceans, clothes, shoes and accessories. Main import origins include Portugal, Spain, Belgium, and the Netherlands. The main imported goods include consumer goods, international goods, capital goods, and petroleum.
China’s exports to Cape Verde include light industrial daily necessities, furniture, automobiles, and building materials. China’s imports from Cape Verde mainly include iron and steel products, boilers, machines, mechanical appliances, and parts.
Strategic positioning of Cape Verde