Cabo Verde: economy

What is the GDP growth rate of Cabo Verde?

Cabo Verde's GDP grew 8.9% in real terms in the second quarter of 2026 compared with the same quarter of 2025, according to the quarterly national accounts published by the National Statistics Institute (INE) on 30 September 2026. That was 2.5 percentage points faster than in the first quarter. Construction grew 35.3%, trade and repairs 25.9% and agriculture 32.6%, while accommodation and food services fell 8.8%.

The figure is a year-on-year change in volume, not an annualised rate. INE notes that trade and repairs made the largest contribution, 2.6 points of the 8.9%. Quarterly estimates are provisional and are revised when the annual accounts are compiled; INE is also rebasing the national accounts, with technical help from the IMF.

Official sources: INE: Quarterly national accounts, Q2 2026 (PDF, Portuguese)

What is the inflation rate in Cabo Verde?

Cabo Verde's inflation rate was 1.5% in September 2026, measured as the average change in consumer prices over the last twelve months, according to the consumer price index release from the National Statistics Institute (INE), published on 14 October 2026. Prices were 2.7% higher than in September 2025, and rose 1.1% in the month itself.

INE uses the 12-month average as its headline inflation rate, which moves more slowly than the year-on-year rate that many countries quote. Core inflation, which leaves out energy and unprocessed food, was 1.5% year on year. The index has a 2018 base and combines price surveys on Santiago, São Vicente and Santo Antão.

Official sources: INE: Consumer price index, September 2026 (PDF, Portuguese)

What does Cabo Verde export?

Prepared and preserved fish made up 79.9% of Cabo Verde's national exports in the second quarter of 2026, followed by clothing (7.7%) and footwear (3.1%), according to the foreign trade statistics of the National Statistics Institute (INE). National exports were 2,216 million escudos in the quarter, down 9.0% on a year earlier, while imports rose 48.2% to 65,863 million escudos.

Europe took 94.0% of exports, with Spain alone 61.2% of the European total. INE counts re-exports separately from national exports; they were 12,410 million escudos in the quarter, up 53.1%. The figures are provisional.

Official sources: INE: Foreign trade statistics, Q2 2026 (PDF, Portuguese)

How many tourists visit Cabo Verde each year?

Hotels and other tourist establishments in Cabo Verde received 1,248,052 guests in 2025, 6.0% more than in 2024, and recorded 6,120,204 overnight stays, according to the tourism statistics for 2025 from the National Statistics Institute (INE), published in April 2026. Non-residents were 95.5% of guests, and the United Kingdom was the largest source market with 29.3% of non-resident arrivals.

The count is of guests checking in to accommodation, so a visitor who stays in two hotels is counted twice and stays in private rentals are not included. Sal took 57.7% of arrivals and Boa Vista 24.4%. The average stay was 4.8 nights and the bed occupancy rate was 72%.

Official sources: INE: Tourism statistics, guest movements 2025 (PDF, Portuguese)

What is Cabo Verde's economic growth rate?

According to the World Bank, real GDP growth in Cabo Verde was 6.3% in 2025. Since 2005 it has ranged from -20.8% (2020) to 15.8% (2022). Sub-Saharan Africa median: 4.6%; Cabo Verde is 11th highest of 46. Worldwide: 29th of 180.

What is GDP per capita in Cabo Verde?

The latest figure from the World Bank, for 2025, is $5,796. It is the top of the series, which starts in 2005. It is 7th highest of 46 in Sub-Saharan Africa, where the median is $1,351. World rank, highest first: 107th of 180.

How does Cabo Verde's income per person compare after prices?

In 2025, GDP per person at purchasing power parity in Cabo Verde was $12,165 in international dollars, according to the World Bank. No year since 2005 has been higher. It is 8th highest of 46 in Sub-Saharan Africa, where the median is $4,425 in international dollars. Of 179 countries with 2025 data, 117th highest.

What share of Cabo Verde's economy is exports?

In 2025, exports of goods and services in Cabo Verde was 42.0% of GDP, according to the World Bank. Its high point since 2005 was 2019, at 46.7% of GDP; its low point was 2021, at 23.8% of GDP. Across Sub-Saharan Africa the middle value was 26.1% of GDP, and Cabo Verde placed 9th highest of 38. Worldwide: 50th of 133.

Does Cabo Verde have a current account surplus or deficit?

The IMF puts the current account balance in Cabo Verde at 3.6% of GDP in 2025. Since 2005 it has ranged from -15.7% of GDP (2020) to 3.9% of GDP (2024). Sub-Saharan Africa median: -3.6% of GDP; Cabo Verde is 3rd highest of 20. World rank, highest first: 29th of 132.

How much foreign direct investment goes into Cabo Verde?

According to the IMF, net inflows of foreign direct investment in Cabo Verde was 5.0% of GDP in 2025. Its high point since 2005 was 2006, at 11.9% of GDP; its low point was 2020, at 3.7% of GDP. Across Sub-Saharan Africa the middle value was 2.0% of GDP, and Cabo Verde placed 12th highest of 46. Of 179 countries with 2025 data, 35th highest.

How high are loan rates in Cabo Verde?

7.7%: that is the average bank lending rate in Cabo Verde for 2025, according to the IMF. Since 2006 it has ranged from 7.5% (2023) to 11.0% (2010). Sub-Saharan Africa median: 17.6%; Cabo Verde is 16th highest of 16. World rank, highest first: 48th of 73.