Markets Actual Q1 Q2 Q3 Q4 2022
Currency 91.77 92.02 92.43 92.84 93.24 94.05

Overview Actual Q1 Q2 Q3 Q4 2022
GDP Annual Growth Rate (%) -18.20 -2 17.5 3 3 5
Unemployment Rate (%) 11.29 12.8 12.8 12.8 12.8 12.4
Inflation Rate (%) -0.90 0.8 0.4 0.6 1.1 1.3
Interest Rate (%) 1.00 1 1 1 1 1
Balance of Trade (CVE Million) -4351.80 -5830 -5830 -5830 -5712 -6660
Current Account (CVE Million) -8631.10 -1780 -1780 -1780 -1780 -2714
Current Account to GDP (%) -0.20 -7 -7 -7 -7 -4.7
Government Debt to GDP (%) 124.70 138 138 138 138 137
Government Budget (% of GDP) -1.80 -8 -8 -8 -8 -6
Business Confidence (points) -15.00 2 4 6 5.5 8
Consumer Confidence (points) 8.00 13 15 17 20 18

GDP Actual Q1 Q2 Q3 Q4 2022
GDP Annual Growth Rate (%) -18.20 -2 17.5 3 3 5
GDP (USD Billion) 1.98 1.8 1.8 1.8 1.8 1.9
GDP per capita (USD) 3907.70 3750 3750 3750 3750 3900
GDP per capita PPP (USD) 7171.80 6600 6850 6850 6850 7000
GDP From Agriculture (CVE Million) 1327.00 2354 2670 2340 2340 2457
GDP From Construction (CVE Million) 4565.00 4032 3174 2782 2782 2921
GDP From Manufacturing (CVE Million) 2026.00 2800 1912 1676 1676 1760
GDP From Mining (CVE Million) 92.00 82.32 64.63 56.65 56.65 59.48
GDP From Public Administration (CVE Million) 7683.00 6864 8458 7414 7414 7785
GDP From Services (CVE Million) 3381.00 4175 3117 2733 2733 2869
GDP From Transport (CVE Million) 2313.00 3594 1325 1162 1162 1220
GDP From Utilities (CVE Million) 1317.00 1330 1466 1285 1285 1350

Labour Actual Q1 Q2 Q3 Q4 2022
Unemployment Rate (%) 11.29 12.8 12.8 12.8 12.8 12.4
Population (Million) 0.55 0.56 0.56 0.56 0.54 0.54
Labor Force Participation Rate (%) 57.40 60 60 60 62 62
Minimum Wages (CVE/Month) 13000.00 15000 15000 15000 15000 15000
Unemployed Persons (Thousand) 26259.00 28600 28600 28600 29000 29000
Youth Unemployment Rate (%) 24.90 32 32 32 29.7 29.7
Employed Persons (Thousand) 206344.00 198000 198000 198000 197000 197000
Employment Rate (%) 50.90 51.3 51.3 51.3 51 51

Prices Actual Q1 Q2 Q3 Q4 2022
Inflation Rate (%) -0.90 0.8 0.4 0.6 1.1 1.3
Food Inflation (%) -3.00 0.3 0.7 1 1 2.3
Inflation Rate Mom (%) -0.30 0.2 0.5 0.5 0.6 0.4
Consumer Price Index CPI (points) 101.07 103 102 102 103 104
Core Inflation Rate (%) 0.00 1 1.3 1.5 1.7 1.8

Money Actual Q1 Q2 Q3 Q4 2022
Interest Rate (%) 1.00 1 1 1 1 1
Foreign Exchange Reserves (CVE Million) 66704.00 61970 61970 61970 62700 62700
Deposit Interest Rate (%) 1.50 3 1.5 1.5 3 3
Banks Balance Sheet (CVE Million) 240570.67 248000 252000 252000 250000 254000

Trade Actual Q1 Q2 Q3 Q4 2022
Balance of Trade (CVE Million) -4351.80 -5830 -5830 -5830 -5712 -6660
Current Account (CVE Million) -8631.10 -1780 -1780 -1780 -1780 -2714
Current Account to GDP (%) -0.20 -7 -7 -7 -7 -4.7
Imports (CVE Million) 7135.10 6500 6500 6500 7400 7400
Exports (CVE Million) 556.20 670 670 670 740 740
Remittances (CVE Million) 1221.10 1400 1400 1400 1400 1577
Tourist Arrivals 170778.00 163000 157000 170000 170000 180000
Foreign Direct Investment (CVE Million) 2177.70 1500 1500 1500 1750 1750

Government Actual Q1 Q2 Q3 Q4 2022
Government Debt to GDP (%) 124.70 138 138 138 138 137
Government Budget (% of GDP) -1.80 -8 -8 -8 -8 -6
Government Spending (CVE Million) 7067.00 6834 8272 7251 7251 7614

Taxes Actual Q1 Q2 Q3 Q4 2022
Sales Tax Rate (%) 15.00 15 15 15 15 15

Business Actual Q1 Q2 Q3 Q4 2022
Business Confidence (points) -15.00 2 4 6 5.5 8

Consumer Actual Q1 Q2 Q3 Q4 2022
Consumer Confidence (points) 8.00 13 15 17 20 18
Consumer Spending (CVE Million) 24395.00 24981 26496 23227 23227 24388


This page has economic forecasts for Cape Verde including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the Cape Verde economy.