Cape Verde recorded a Current Account deficit of 4.40 percent of the country's Gross Domestic Product in 2019. source: Banco de Cabo Verde

Current Account to GDP in Cape Verde averaged -7.63 percent from 1980 until 2019, reaching an all time high of 3.04 percent in 1980 and a record low of -16.20 percent in 2011. This page provides - Cape Verde Current Account to GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news. Cape Verde Current Account to GDP - values, historical data and charts - was last updated on May of 2021.

Current Account to GDP in Cape Verde is expected to reach -8.00 percent by the end of 2020, according to Trading Economics global macro models and analysts expectations. In the long-term, the Cape Verde Current Account to GDP is projected to trend around -7.00 percent in 2021 and -4.70 percent in 2022, according to our econometric models.

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Cape Verde Current Account to GDP

Actual Previous Highest Lowest Dates Unit Frequency
-0.20 -4.50 3.04 -16.20 1980 - 2019 percent Yearly

Cape Verde Trade Last Previous Highest Lowest Unit
Balance of Trade -4351.80 -5417.10 -1864.74 -27692.99 CVE Million [+]
Current Account -8730.80 -8490.60 9533.00 -11803.10 CVE Million [+]
Current Account to GDP -0.20 -4.50 3.04 -16.20 percent [+]
Imports 4805.10 5517.90 32602.32 2004.13 CVE Million [+]
Exports 186.20 289.10 4909.34 37.30 CVE Million [+]
Remittances 2296.60 1673.10 2296.60 523.08 CVE Million [+]
Capital Flows 938.80 -5944.10 2517.80 -9432.47 CVE Millions [+]
Tourist Arrivals 9034.00 3701.00 312880.00 3701.00 [+]
Foreign Direct Investment 1886.60 2183.90 8369.50 -488.40 CVE Million [+]

Cape Verde Current Account to GDP
The Current account balance as a percent of GDP provides an indication on the level of international competitiveness of a country. Usually, countries recording a strong current account surplus have an economy heavily dependent on exports revenues, with high savings ratings but weak domestic demand. On the other hand, countries recording a current account deficit have strong imports, a low saving rates and high personal consumption rates as a percentage of disposable incomes.