This page has economic forecasts for Cape Verde including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the Cape Verde economy.


Overview Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Unemployment Rate 12.20 13 12.5 12.5 13.4 13.8 percent
Inflation Rate 1.70 2 1.6 1.6 1.6 2.1 percent
Interest Rate 5.50 5.5 6 6 6 7 percent
Balance of Trade -7180.10 -8411 -8396 -8580 -8686 -8832 CVE Million
Government Debt to GDP 125.30 135 140 140 140 142 percent
MARKETS Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Currency 96.44
96.19 96.76 97.33 97.91 100
GDP Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
GDP Annual Growth Rate 5.90
percent
4.1 4.4 4.2 4.6 3.12
GDP 1.75
USD Billion
1.8 1.9 1.9 1.9 2
GDP per capita 2738.31
USD
2761 2820 2820 2777 2824
GDP per capita PPP 6222.55
USD
6350 6500 6500 6500 6700
GDP Constant Prices 39944.00
CVE Million
40537 39990 40485 40091 40693
GDP From Agriculture 2273.20
CVE Million
1742 2016 2369 2139 1875
GDP From Construction 3136.60
CVE Million
2783 2882 3268 3176 2996
GDP From Manufacturing 2416.20
CVE Million
2623 2801 2518 2054 2824
GDP From Mining 89.10
CVE Million
79.84 82.27 92.84 91.73 85.96
GDP From Public Administration 6466.70
CVE Million
6080 5908 6738 6218 6546
GDP From Services 3983.20
CVE Million
4292 4186 4150 4092 4621
GDP From Transport 3288.60
CVE Million
3768 3520 3427 3272 4056
GDP From Utilities 1590.90
CVE Million
1714 1570 1658 1503 1846
LABOUR Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Unemployment Rate 12.20
percent
13 12.5 12.5 13.4 13.8
Population 0.55
Million
0.55 0.55 0.55 0.55 0.57
Minimum Wages 13000.00
CVE/Month
13000 14000 13000 13500 14000
Youth Unemployment Rate 32.40
percent
33.64 32.93 32.23 31.52 30.4
PRICES Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Inflation Rate 1.70
percent
2 1.6 1.6 1.6 2.1
Food Inflation 1.20
percent
1.5 1.7 2 2.3 3.5
Inflation Rate Mom 0.30
percent
0.06 0.01 0.01 0.01 0.01
Consumer Price Index CPI 121.10
Index Points
122 122 122 123 127
Core Consumer Prices 122.70
Index Points
123 122 122 122 122
Core Inflation Rate 0.10
percent
0.07 0 -0.03 -0.05 -0.09
Cpi Housing Utilities 116.30
Index Points
116 116 116 116 116
Cpi Transportation 113.20
Index Points
113 113 113 113 113
MONEY Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Interest Rate 5.50
percent
5.5 6 6 6 7
Money Supply M0 101923.30
CVE Million
101906 101909 101909 101909 101909
Money Supply M2 180066.90
CVE Million
169551 169523 169521 169521 169521
Foreign Exchange Reserves 56817.60
CVE Million
56230 56221 56220 56220 56220
Deposit Interest Rate 2.50
percent
2.5 3 3 3 4
Money Supply M1 78143.60
CVE Million
68163 68142 68139 68139 68139
TRADE Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Balance of Trade -7180.10
CVE Million
-8411 -8396 -8580 -8686 -8832
Exports 735.90
CVE Million
976 1058 1105 1133 1172
Imports 7916.00
CVE Million
9051 9454 9685 9819 10004
Current Account -4544.29
CVE Million
-2711 -2497 -2338 -2977 -2695
Current Account to GDP -7.10
percent
-8 -7.6 -7.6 -7.6 -5
Remittances 1449.90
CVE Million
1446 1456 1444 1453 1450
Tourist Arrivals 168171.00
181900 189500 174900 171900 177200
Foreign Direct Investment 3208.40
CVE Million
2910 2751 2815 2979 2883
Capital Flows 1252.60
CVE Millions
-3200 -3097 -2529 -2704 -2756
GOVERNMENT Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Government Debt to GDP 125.30
percent
135 140 140 140 142
Government Budget -3.10
percent of GDP
-3.1 -3.1 -3.1 -3.1 -3.1
Military Expenditure 9.13
USD Million
9 8.99 8.99 8.98 8.97
Government Revenues 11860.00
CVE Millions
14644 12554 12615 13890 15387
Government Spending 7027.05
CVE Million
7451 6169 7322 6351 8021
BUSINESS Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Business Confidence 12.00
Index Points
13.92 14.43 13.92 13.42 13.3
Internet Speed 3847.67
KBps
3074 3174 3060 3156 3047
IP Addresses 14030.00
IP
15830 15984 16188 16371 17784
Ease of Doing Business 131.00
127 129 130 131 131
Competitiveness Index 50.19
Points
50.69 50.69 50.69 50.69 53.19
Competitiveness Rank 111.00
111 111 111 111 111
Corruption Index 55.00
Points
55 55 55 55 55
Corruption Rank 48.00
48 48 48 48 48
CONSUMER Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Consumer Confidence 13.00
Index Points
12.34 11.75 11.43 11.44 11.81
Private Sector Credit 104651.20
CVE Million
106081 107308 108505 109661 118537
Consumer Spending 26654.02
CVE Million
29431 25114 27773 25750 31685
TAXES Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Sales Tax Rate 15.00
percent
15 15 15 15 15
CLIMATE Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Precipitation 20.45
mm
32.01 10.63 29.62 29.62 33.85
Temperature 23.05
celsius
24.98 22.09 24.77 24.77 24.76



Cape Verde - Economic Forecasts - 2018-2020 Outlook