Markets Actual Q3 Q4 Q1 Q2 2022
Currency 93.59 94.1 94.56 95.03 95.48 96.42

Overview Actual Q3 Q4 Q1 Q2 2022
GDP Annual Growth Rate (%) -11.00 17.5 4.1 4.7 5 5.2
Unemployment Rate (%) 12.30 11.8 11.8 12 12 12
Inflation Rate (%) 1.50 1.4 1.1 1.5 2 1.3
Interest Rate (%) 0.25 0.25 0.25 0.25 0.25 0.25
Balance of Trade (CVE Million) -4351.80 -5830 -5712 -5712 -5712 -6660
Current Account (CVE Million) -6673.90 -1780 -1780 -1780 -1780 -2714
Current Account to GDP (% of GDP) -15.60 -10 -10 -10 -7 -7
Government Debt to GDP (% of GDP) 155.80 138 138 135 135 135
Government Budget (% of GDP) -8.90 -7.6 -7.6 -4 -4 -4
Business Confidence (points) -11.00 -6 -8 3 5 8
Consumer Confidence (points) 14.00 15 17 18 18 20

GDP Actual Q3 Q4 Q1 Q2 2022
GDP Annual Growth Rate (%) -11.00 17.5 4.1 4.7 5 5.2
GDP (USD Billion) 1.70 1.8 1.8 1.8 1.8 1.9
GDP per capita (USD) 3293.72 3750 3750 3750 3750 3900
GDP per capita PPP (USD) 6045.06 6850 6850 6850 6850 7000
GDP From Agriculture (CVE Million) 2565.00 1559 1203 1210 1214 1266
GDP From Construction (CVE Million) 4336.00 5364 4652 4679 4692 4894
GDP From Manufacturing (CVE Million) 2732.00 2381 2670 2686 2693 2809
GDP From Mining (CVE Million) 87.00 108 93.69 94.23 94.5 98.56
GDP From Public Administration (CVE Million) 7808.00 9018 8457 8506 8530 8897
GDP From Services (CVE Million) 4934.00 3967 3900 3922 3933 4102
GDP From Transport (CVE Million) 2623.00 2752 3089 3106 3115 3249
GDP From Utilities (CVE Million) 1270.00 1547 1349 1357 1361 1419

Labour Actual Q3 Q4 Q1 Q2 2022
Unemployment Rate (%) 12.30 11.8 11.8 12 12 12
Population (Million) 0.56 0.56 0.54 0.54 0.54 0.54
Labor Force Participation Rate (%) 57.04 60 62 62 62 62
Minimum Wages (CVE/Month) 15000.00 15000 15000 15000 15000 15000
Unemployed Persons (Thousand) 31724.00 28600 29000 29000 29000 29000
Youth Unemployment Rate (%) 28.37 32 29.7 29.7 29.7 29.7
Employed Persons (Thousand) 186627.00 198000 197000 197000 197000 197000
Employment Rate (%) 45.30 51.3 51 51 51 51

Prices Actual Q3 Q4 Q1 Q2 2022
Inflation Rate (%) 1.50 1.4 1.1 1.5 2 1.3
Food Inflation (%) -0.90 1 1.3 1.6 1.8 2
Inflation Rate Mom (%) 0.50 0.7 0.6 0.3 0.5 0.5
Consumer Price Index CPI (points) 102.70 103 107 103 104 104
Core Inflation Rate (%) 1.80 1.5 1.7 1.4 1.2 1.3

Money Actual Q3 Q4 Q1 Q2 2022
Interest Rate (%) 0.25 0.25 0.25 0.25 0.25 0.25
Foreign Exchange Reserves (CVE Million) 58889.60 61970 62700 62700 62700 62700
Deposit Interest Rate (%) 0.88 0.88 0.88 0.88 0.88 0.88
Banks Balance Sheet (CVE Million) 239345.80 252000 250000 250000 250000 254000

Trade Actual Q3 Q4 Q1 Q2 2022
Balance of Trade (CVE Million) -4351.80 -5830 -5712 -5712 -5712 -6660
Current Account (CVE Million) -6673.90 -1780 -1780 -1780 -1780 -2714
Current Account to GDP (% of GDP) -15.60 -10 -10 -10 -7 -7
Imports (CVE Million) 5427.80 6500 7400 7400 7400 7400
Exports (CVE Million) 5233.00 670 740 740 740 740
Remittances (CVE Million) 2137.90 1400 1400 1400 1400 1577
Tourist Arrivals 12.10 170000 170000 170000 170000 180000
Foreign Direct Investment (CVE Million) 1886.60 1500 1750 1750 1750 1750

Government Actual Q3 Q4 Q1 Q2 2022
Government Debt to GDP (% of GDP) 155.80 138 138 135 135 135
Government Budget (% of GDP) -8.90 -7.6 -7.6 -4 -4 -4
Government Spending (CVE Million) 8172.00 8294 8744 8795 8820 9199

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

Business Actual Q3 Q4 Q1 Q2 2022
Business Confidence (points) -11.00 -6 -8 3 5 8

Consumer Actual Q3 Q4 Q1 Q2 2022
Consumer Confidence (points) 14.00 15 17 18 18 20
Consumer Spending (CVE Million) 21797.00 28634 24496 24637 24708 25770


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.