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Cabo Verde Country Profile

Basic Facts

Area:  4,033 Km2

Geographic Location: The Cabo Verde Islands are located in the mid-Atlantic Ocean some 570 km off the west coast of Africa

Natural Resources: Salt, pozzolana, limestone

Population (2015): 520,502 inhabitants

President: Jorge Carlos Fonseca

Capital City: Praia

Official Language: Portuguese (official), Crioulo (a blend of Portuguese and West African words)

Population Administrative Division: Divided into 22 concelhos (municipalities), and subdivided into 32 freguesias (equivalent to civil parish)


National Investment Promotion Agency:

Source: AfDB Socio Economic Database, United Nations Conference on Trade and Development (UNCTAD), Cabo Verde Investimentos (CVI)

Economic Indicators


GDP (current USD, 2015): 1.8 billion

GDP per capita (current USD, 2015): 3,486

Global competitiveness index (2015): 112 (world rank out of 140 countries, 2014-2015)

Annual growth rate of GDP per capita (constant prices, 2015): 1.75%

Consumer price index (annual variation rate, 2015): 2.18%

Monetary System

Denomination (ISO): Cape Verdean Escudo (CVE)

Source: UNCTAD

Foreign Exchange Evolution
Average for PeriodUSD/CVEEUR/CVE
2011 79.323 110.270
2012 85.822 110.270
2013 83.051 110.270
2014 83.114 110.270
Social Indicators

Population (2015)520,502 inhabitants

Population growth (annual rate, 2015): 1.28%

Literacy rate (2010): 84.29%

Life expectancy (2015): 73.54 years

Urban population (2015): 63.99%

Human development index (2014): 153 (position in the world rank, 186 countries)

Quality of life:


Foreign Trade

Main Exports and Imports by geographic location (percent)

(Graph 1: Main export destinations)

(Graph 2: Main exports by Product)

(Graph 3: Main suppliers of imports)

(Graph 4: Main imports by Product)

Total exports (USD, 2014): 80.6 million

Tax Regime

Income tax: %

Corporate tax: %

Value-added tax (VAT): %

Minimum capital requirement:

Time required to start a business (days): 10

Source: KPMG, World Bank

Strategic Sectors

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