Economic Indicators
2020(a) | 2021(a) | 2022(b) | 2023(b) | |
Population (thousand) | 551.0 | 563.0 | 570.0 | 584.0 |
GDP (US$ million) | 1,871 | 2,112 | 2,053 | 2,140 |
Real GDP Growth Rate (%) | -14.8 | 7.0 | 4.0 | 4.8 |
Total Export of Goods (US$ million) | 55.7 | 67.3 | 60.9 | 118.6 |
Total Import of Goods (US$ million) | 1,331.4 | 1,163.5 | 1,090.7 | 1,122.7 |
Total Export of Services (US$ million) | 286.6 | 282.5 | 511.0(c) | 603.6(c) |
Total Import of Services (US$ million) | 218.6 | 228.6 | 267.9(c) | 311.1(c) |
Consumer Price Index (%) | 0.6 | 1.9 | 6.5 | 3.5 |
Current Account Balance (US$ million) | -281 | -237 | -287 | -132 |
Exchange Rate (Escudo CVE: USD, Period Average) | 96.8 | 93.2 | 106.1(c) | 111.4(c) |
Remarks: (a) actual value; (b) estimated value of International Monetary Fund (IMF); (c) estimated value of Oxford Economics
Source: International Monetary Fund (IMF), Oxford Economics “Country Economic Forecast – Cape Verde (Nov 2022)”
Main export and import goods destinations
Main Export Destinations (2021) | Proportion of Total Value of Exports of Goods (%) |
Spain | 62.8 |
Portugal | 12.1 |
Italy | 9.3 |
United States | 5.1 |
Others | 10.7 |
Main source of import (2021) | Proportion in total imports of goods (%) |
Portugal | 41.4 |
The Netherlands | 10.4 |
Argentina | 9.4 |
Spain | 7.3 |
Others | 31.5 |
Source: International Monetary Fund (IMF)
Main export and import goods
Major export goods (2021) | Proportion in total exports of goods (%) |
Preparation of meat, of fish or of crustaceans, molluscs or other aquatic invertebrates | 78.0 |
Articles of apparel and clothing accessories knitted or crocheted | 7.1 |
Footwear, gaiters and the like; parts of such articles | 6.1 |
Food industry residues & waste; prepared animal feed | 3.5 |
Others | 5.3 |
Major import goods (2021) | Proportion in total imports of goods (%) |
Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes | 12.5 |
Vehicles other than railway or tramway rolling-stock, and parts and accessories thereof | 7.6 |
Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof | 7.1 |
Electrical machinery and equipment and parts thereof; sound recorders and reproducers, television image and sound recorders and reproducers, and parts and accessories of such articles | 6.9 |
Others | 65.9 |
Source: International Trade Center (ITC)
Statistics on Trade in Services
| Main Export of Services (2021) | Proportion in total exports of services (%) |
| Tourism | 51.1 |
| Transport | 17.0 |
| Other business services | 12.1 |
| Other | 19.8 |
| Main Import of Services (2021) | Proportion in total imports of services (%) |
| Transport | 34.1 |
| Tourism | 24.5 |
| Other business service | 15.7 |
| Other | 25.7 |
Remarks：The above content is the estimated data of UNCTAD, WTO and ITC.
Source：International Trade Centre (ITC)
Statistics on the Trade of Goods between Mainland China and Cape Verde (US$ ten thousands)
Year | Total Trade | Total Exports Value* | Total Imports Value** |
2022 | 9,298.5 | 9,296.5 | 0.2 |
2021 | 8,568.5 | 8,453.8 | 114.7 |
2020 | 7,899.9 | 7,778.9 | 0.1 |
2019 | 6,420.9 | 6,418.1 | 2.9 |
2018 | 7,856.0 | 7,827.0 | 29.0 |
Remarks: * Value of goods exported to Cape Verde from Mainland China; **Value of goods imported from Cape Verde to Mainland China
Source: General Administration of Customs of the People’s Republic of China
Sources:
- Country (region) guide for foreign investment co-operation (Cape Verde) by the Ministry of Commerce of the People’s Republic of China
- “2021 Statistical Bulletin of China’s Outward Foreign Direct Investment” by the Ministry of Commerce of the People’s Republic of China, National Bureau of Statistics and State Administration of Foreign Exchange
- General Administration of Customs of the People’s Republic of China
- SinoMaps Press
- International Monetary Fund (IMF)
- International Trade Center (ITC)
- “2022 World Investment Report” by the United Nations Conference on Trade and Development (UNCTAD)
- “Country Economic Forecast – Cape Verde (Nov 2022)” by Oxford Economics
Updated in June 2023.
