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Cape Verde : economy statistics and industry reports
- Updated on : 27 August 2012 Source : The World Factbook
Imports
$980.5 million (2011 est.)$814.2 million (2010 est.)
Exports
$191.4 million (2011 est.)$135.3 million (2010 est.)
Inflation rate (consumer prices)
4.5% (2011 est.)2.1% (2010 est.)
Unemployment rate
21% (2000 est.)GDP - per capita (PPP)
$4,000 (2011 est.)$3,900 (2010 est.)
$3,700 (2009 est.)
note: data are in 2011 US dollars
National product real growth rate
4.5% (2010 est.)1.8% (2009 est.)
5.9% (2008 est.)
Internet users
150,000 (2009)Telephones - mobile cellular
371,900 (2009)Population growth rate
1.428% (2012 est.)Population
523,568 (July 2012 est.)About this country
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Historical background
The uninhabited islands were discovered and colonized by the Portuguese in the 15th century; Cape Verde subsequently became a trading center for African slaves and later an important coaling and resupply stop for whaling and transatlantic shipping.
Following independence in 1975, and a tentative interest in unification with Guinea-Bissau, a one-party system was established and maintained until multi-party elections were held in 1990.
Cape Verde continues to exhibit one of Africa's most stable democratic governments.
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Economic overview
This island economy suffers from a poor natural resource base, including serious water shortages exacerbated by cycles of long-term drought and poor soil for agriculture on several of the islands.
The economy is service oriented with commerce, transport, tourism, and public services accounting for about three-fourths of GDP.
Although nearly 70% of the population lives in rural areas, the share of food production in GDP is low.
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