Who Owns Whom

Cape Verde

Country Code: 132

ISO2 Code: CV

ISO3 Code: CPV

Country Economic Snapshot

2023-11-08

Located 500km off the west coast of Africa, Cabo Verde (Cape Verde) is an archipelago of 10 islands with a land mass of 4,033km² of which only 10% is classified as arable land, and the country possesses limited mineral resources. It has a population of 573,007 people who live on nine of the islands and a GDP of US$1.9bn.

Politics has been largely consensus-oriented, and since its independence from Portugal in 1975, it has not experienced a single coup. Elections are considered free and fair, and parties in power alternate regularly.

The most important sector of the economy is services, which accounts for 72% of GDP, of which public administration accounts for 18%, real estate and other services 13%, wholesale and retail trade 12%, transport 11% and hotels and restaurants 7%. Industry contributes 21% with construction accounting for 9% and manufacturing, mining and quarrying 8% and agriculture and fishing 7%. The contribution of the mining industry to Cape Verde’s economy is insignificant and minerals produced are clay, gravel, limestone, sand, and volcanic ash.
Real GDP grew by 7.0% in 2021 and 10.5% in 2022, supported by transport, the digital economy, construction, and tourism, and is projected to grow by 5.7% in 2023 and 6.2% in 2024.

Sources: Who Owns Whom sector reports, CIA Factbook, African Development Bank, World Bank, Trading Economics, African Statistical Yearbook and IMF.

Info

Capital Praia
Currency (Name, Abbreviation, Symbol) Cape Verdean escudo , CVE , Esc
Area 4,033 sq km
Type of Government presidential republic
Languages Portuguese (official), Crioulo (a blend of Portuguese and West African words)
Natural Resources salt, basalt rock, limestone, kaolin, fish, clay, gypsum
Type of Industry food and beverages, fish processing, shoes and garments, salt mining, ship repair
Stock Exchange Bolsa de Valores de Cabo Verde
Stock Exchange Location Mindelo
Stock Exchange Founded 2005
Tax Rate: Corporate
Tax Rate: Individual
Natural Resources salt, basalt rock, limestone, kaolin, fish, clay, gypsum

Latest available information as sourced from:

African Markets

Trading Economics

Economy Watch

The World Fact Book

KPMG Tax Tables

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Banco Comercial do Atlantico S.A. Bolsa de Valores de Cabo Verde 2005-12-00 BCA Cape Verde Active Caixa Economica de Cabo Verde SA Bolsa de Valores de Cabo Verde Cape Verde Active Empresa Nacional de Combustiveis Enacol SA Bolsa de Valores de Cabo Verde ENACOL Cape Verde Active Sociedade Caboverdiana de Tabacos S.A. Bolsa de Valores de Cabo Verde 2010-00-00 SCT Cape Verde Active

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