Markets Actual Q1 Q2 Q3 Q4 2020
Currency 99.78 99.18 99.65 100 101 102
Overview Actual Q1 Q2 Q3 Q4 2020
GDP Annual Growth Rate (%) 6.70 4.7 4.9 5.1 5.3 5.2
Unemployment Rate (%) 12.20 11.4 11.4 11.4 11.4 10
Inflation Rate (%) 1.90 1.4 1.4 1 1.3 2
Interest Rate (%) 5.50 5.5 5.5 5.5 5.5 5
Balance of Trade (CVE Million) -5345.60 -4760 -6370 -6415 -5830 -6660
Current Account (CVE Million) -2033.35 -2338 -2977 -1780 -1780 -2714
Current Account to GDP (%) -4.50 -6 -6 -6 -6 -6.5
Government Debt to GDP (%) 124.00 120 120 120 120 120
Government Budget (% of GDP) -2.60 -1.7 -1.7 -1.7 -1.7 -1.5
Business Confidence (points) 12.00 10 13 14 16 18
Consumer Confidence (points) 16.00 18 23 20 25 27
GDP Actual Q1 Q2 Q3 Q4 2020
GDP Annual Growth Rate (%) 6.70 4.7 4.9 5.1 5.3 5.2
GDP (USD Billion) 1.99 2.1 2.1 2.1 2.1 2.2
GDP per capita (USD) 2738.31 2820 2777 2777 2820 2820
GDP per capita PPP (USD) 6662.00 6850 6850 6850 6850 6990
GDP From Agriculture (CVE Million) 1632.00 2211 2776 1674 1718 1808
GDP From Construction (CVE Million) 4034.10 3561 4096 4137 4248 4469
GDP From Manufacturing (CVE Million) 2427.40 2607 2495 2489 2556 2689
GDP From Mining (CVE Million) 83.10 74.61 85.03 85.22 87.5 92.05
GDP From Public Administration (CVE Million) 6717.70 6777 7042 6889 7074 7442
GDP From Services (CVE Million) 4591.70 4389 4544 4709 4835 5086
GDP From Transport (CVE Million) 3908.40 3430 3911 4008 4116 4330
GDP From Utilities (CVE Million) 1461.10 1343 1373 1498 1539 1619
Labour Actual Q1 Q2 Q3 Q4 2020
Unemployment Rate (%) 12.20 11.4 11.4 11.4 11.4 10
Population (Million) 0.54 0.56 0.56 0.56 0.54 0.54
Labor Force Participation Rate (%) 55.60 60 60 60 60 62
Minimum Wages (CVE/Month) 13000.00 13000 13000 13000 13000 15000
Unemployed Persons (Thousand) 27028.00 28600 28600 28600 28600 29000
Youth Unemployment Rate (%) 27.80 32 32 32 32 29.7
Employed Persons (Thousand) 195000.00 198000 198000 198000 198000 197000
Employment Rate (%) 48.80 51.3 51.3 51.3 51.3 51
Prices Actual Q1 Q2 Q3 Q4 2020
Inflation Rate (%) 1.90 1.4 1.4 1 1.3 2
Food Inflation (%) 4.30 1.8 1.8 1.8 1.9 2.4
Consumer Price Index CPI (points) 102.29 102 103 102 103 105
Core Inflation Rate (%) 1.70 1.2 1.3 1.3 1.6 1.4
Money Actual Q1 Q2 Q3 Q4 2020
Interest Rate (%) 5.50 5.5 5.5 5.5 5.5 5
Foreign Exchange Reserves (CVE Million) 69521.30 61230 64100 60500 61970 62700
Deposit Interest Rate (%) 1.90 3 1.9 1.9 3 3
Trade Actual Q1 Q2 Q3 Q4 2020
Balance of Trade (CVE Million) -5345.60 -4760 -6370 -6415 -5830 -6660
Current Account (CVE Million) -2033.35 -2338 -2977 -1780 -1780 -2714
Current Account to GDP (%) -4.50 -6 -6 -6 -6 -6.5
Imports (CVE Million) 5887.20 5200 6990 6900 6500 7400
Exports (CVE Million) 541.60 440 620 485 670 740
Remittances (CVE Million) 1726.20 1960 1960 1400 1400 1577
Tourist Arrivals 181664.00 245000 188100 182000 225000 240000
Foreign Direct Investment (CVE Million) 1076.10 3300 2000 1900 1500 1750
Government Actual Q1 Q2 Q3 Q4 2020
Government Debt to GDP (%) 124.00 120 120 120 120 120
Government Budget (% of GDP) -2.60 -1.7 -1.7 -1.7 -1.7 -1.5
Government Spending (CVE Million) 7067.10 7919 6656 7247 7442 7829
Taxes Actual Q1 Q2 Q3 Q4 2020
Sales Tax Rate (%) 15.00 15 15 15 15 15
Business Actual Q1 Q2 Q3 Q4 2020
Business Confidence (points) 12.00 10 13 14 16 18
Consumer Actual Q1 Q2 Q3 Q4 2020
Consumer Confidence (points) 16.00 18 23 20 25 27
Consumer Spending (CVE Million) 27112.50 24958 27121 27804 28549 30034


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.