All the tools and resources you need to export your goods across the world

The uninhabited islands were discovered and colonized by the Portuguese in the 15th century; Cabo Verde subsequently became a trading center for African slaves and later an important coaling and resupply stop for whaling and transatlantic shipping. The fusing of European and various African cultural traditions is reflected in Cabo Verde’s Crioulo language, music, and pano textiles. 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. Cabo Verde continues to sustain one of Africa's most stable democratic governments. Repeated droughts during the second half of the 20th century caused significant hardship and prompted heavy emigration. As a result, Cabo Verde's expatriate population is greater than its domestic one. Most Cabo Verdeans have both African and Portuguese antecedents. Cabo Verde’s population descends from its first permanent inhabitants in the late 15th-century – a preponderance of West African slaves, a small share of Portuguese colonists, and even fewer Italians, Spaniards, and Portuguese Jews. Among the nine inhabited islands, population distribution is variable. Islands in the east are very dry and are only sparsely settled to exploit their extensive salt deposits. The more southerly islands receive more precipitation and support larger populations, but agriculture and livestock grazing have damaged their soil fertility and vegetation. For centuries, the country’s overall population size has fluctuated significantly, as recurring periods of famine and epidemics have caused high death tolls and emigration.


Western Africa, group of islands in the North Atlantic Ocean, west of Senegal

Natural Resources

salt, basalt rock, limestone, kaolin, fish, clay, gypsum

Population - distribution

among the nine inhabited islands, population distribution is variable; islands in the east are very dry and are only sparsely settled to exploit their extensive salt deposits; the more southerly islands receive more precipitation and support larger populations, but agriculture and livestock grazing have damaged the soil fertility and vegetation; approximately half of the population lives on Sao Tiago Island, which is the location of the capital of Praia; Mindelo, on the northern island of Sao Vicente, also has a large urban population

Portuguese (official), Crioulo (a blend of Portuguese and West African words)
PRAIA (capital) 145,000 (2014)
Conventional long form
Republic of Cabo Verde
Conventional short form
Cabo Verde
Local long form
Republica de Cabo Verde
Local short form
Cabo Verde
parliamentary republic
Geographic coordinates
14 55 N, 23 31 W
Time difference
UTC-1 (4 hours ahead of Washington, DC, during Standard Time)
has not submitted an ICJ jurisdiction declaration; accepts ICCt jurisdiction
Cabo Verde’s economy is vulnerable to external shocks and depends on development aid, foreign investment, remittances, and tourism. The economy is service-oriented with commerce, transport, tourism, and public services accounting for about three-fourths of GDP. Tourism is the mainstay of the economy and depends on conditions in the euro-zone countries. Cabo Verde annually runs a high trade deficit financed by foreign aid and remittances from its large pool of emigrants; remittances as a share of GDP are one of the highest in Sub-Saharan Africa.
External debt stocks
US$ 1,520,142,000
Total tax rate (% of commercial profits)
Real Interest Rate
Manufacturing, value added (% of GDP)
Current Account Balance
US$ -61,768,106
Labor Force, Total
Employment in Agriculture
Employment in Industry
Employment in Services
Unemployment Rate
Imports of goods and services
US$ 1,127,609,221
Exports of goods and services
US$ 749,958,791
Total Merchandise Trade
FDI, net inflows
US$ 119,202,394
Commercial Service Exports
US$ 572,792,376
bananas, corn, beans, sweet potatoes, sugarcane, coffee, peanuts; fish
food and beverages, fish processing, shoes and garments, salt mining, ship repair
fuel (re-exports), shoes, garments, fish, hides
Australia 83.1%, Spain 8.6% (2015)
foodstuffs, industrial products, transport equipment, fuels
Portugal 29.8%, Australia 26.4%, Netherlands 11.2%, Spain 5.6%, China 5.6% (2015)
Country Risk Rating
Political and economic uncertainties and an occasionally difficult business environment can affect corporate payment behavior. Corporate default probability is appreciable.
Business Climate Rating
The business environment is mediocre. The availability and the reliability of corporate financial information vary widely. Debt collection can sometimes be difficult. The institutional framework has a few troublesome weaknesses. Intercompany transactions run appreciable risks in the unstable, largely inefficient environments rated B.
  • Tourism potential
  • Fisheries resources
  • Efficient banking and telecommunications service sectors
  • Political stability
  • Quality of governance
  • High level of public debt
  • Poor transport infrastructure
  • Food and energy wholly imported
  • Dependence on international aid, the diaspora, and tourism
  • High unemployment (12%, 28% among young people)

Our site saves small pieces of text information (cookies) on your device in order to deliver better content and for statistical purposes. By browsing our website you grant us permission to store that information on your device. For more information check our Terms and Conditions.