Markets Actual Q2 Q3 Q4 Q1 2023
Currency 104.44 106 108 109 110 113

Overview Actual Q2 Q3 Q4 Q1 2023
GDP Annual Growth Rate (%) 13.20 6 4.8 5.5 5.7 6.1
Unemployment Rate (%) 14.50 13 13 13 13 12
Inflation Rate (%) 7.80 7 6.5 6 4.5 3
Interest Rate (%) 0.25 0.5 0.5 0.5 0.5 0.5
Balance of Trade (CVE Million) -6464.20 -5980 -5325 -5700 -5570 -6080
Current Account (CVE Million) -1929.30 -1780 -1780 -1780 -1780 -2714
Current Account to GDP (% of GDP) -15.60 -7 -7 -7 -7 -3
Government Debt to GDP (% of GDP) 157.00 155 155 155 150 150
Government Budget (% of GDP) -8.90 -7.6 -7.6 -7.6 -7.6 -5
Business Confidence (points) -1.00 4 8 10 12 15
Consumer Confidence (points) 12.00 13 16 15 18 18

GDP Actual Q2 Q3 Q4 Q1 2023
GDP Annual Growth Rate (%) 13.20 6 4.8 5.5 5.7 6.1
GDP (USD Billion) 1.70 1.8 1.8 1.9 1.9 1.9
GDP per capita (USD) 2935.32 3200 3200 3200 3200 3300
GDP per capita PPP (USD) 6045.06 6850 6850 7000 7000 7000
GDP From Agriculture (CVE Million) 1036.00 2483 1572 1093 1095 1160
GDP From Construction (CVE Million) 3927.00 4778 4653 4143 4151 4396
GDP From Manufacturing (CVE Million) 3481.00 2419 2451 3672 3679 3896
GDP From Mining (CVE Million) 78.00 95.4 92.22 82.29 82.45 87.31
GDP From Public Administration (CVE Million) 9282.00 8739 8122 9793 9811 10390
GDP From Services (CVE Million) 4212.00 3636 3948 4444 4452 4715
GDP From Transport (CVE Million) 2880.00 2901 2601 3038 3044 3224
GDP From Utilities (CVE Million) 1537.00 1418 1586 1622 1625 1720
GDP Growth Rate (%) 13.50 3 2.6 3 3 1.8

Labour Actual Q2 Q3 Q4 Q1 2023
Unemployment Rate (%) 14.50 13 13 13 13 12
Population (Million) 0.56 0.54 0.54 0.54 0.54 0.54
Employed Persons (Thousand) 186627.00 197000 197000 197000 197000 197000
Employment Rate (%) 45.30 51 51 51 51 51
Labor Force Participation Rate (%) 57.04 62 62 62 62 62
Minimum Wages (CVE/Month) 13000.00 13000 13000 13000 15000 15000
Unemployed Persons (Thousand) 31724.00 29000 29000 29000 29000 29000
Youth Unemployment Rate (%) 28.37 29.7 29.7 29.7 29.7 29.7

Prices Actual Q2 Q3 Q4 Q1 2023
Inflation Rate (%) 7.80 7 6.5 6 4.5 3
Food Inflation (%) 15.20 16 13 9.7 8.5 7
Core Inflation Rate (%) 5.90 7 5.6 4.8 4.4 3.7
Consumer Price Index CPI (points) 110.70 110 111 113 115 117
Inflation Rate Mom (%) 0.70 0.3 0.2 0.3 0.5 0.3

Money Actual Q2 Q3 Q4 Q1 2023
Interest Rate (%) 0.25 0.5 0.5 0.5 0.5 0.5
Money Supply M0 (CVE Million) 113895.20 114500 113900 113500 112700 112000
Money Supply M2 (CVE Million) 210723.20 208000 204000 202000 190000 190000
Foreign Exchange Reserves (CVE Million) 68676.20 59800 61500 62000 61500 63000
Deposit Interest Rate (%) 0.88 1.13 1.13 1.13 1.13 1.13
Banks Balance Sheet (CVE Million) 261091.99 255000 258000 260000 262000 264000
Money Supply M1 (CVE Million) 96828.00 94000 93700 93500 92500 91500

Trade Actual Q2 Q3 Q4 Q1 2023
Balance of Trade (CVE Million) -6464.20 -5980 -5325 -5700 -5570 -6080
Current Account (CVE Million) -1929.30 -1780 -1780 -1780 -1780 -2714
Current Account to GDP (% of GDP) -15.60 -7 -7 -7 -7 -3
Imports (CVE Million) 6866.50 6500 5800 6200 5800 6500
Exports (CVE Million) 402.40 520 475 500 230 420
Remittances (CVE Million) 2799.80 2450 1800 2300 1800 2100
Tourist Arrivals 87751.00 45000 70000 85000 76000 90000
Foreign Direct Investment (CVE Million) 1387.30 1750 1750 1750 1750 1750

Government Actual Q2 Q3 Q4 Q1 2023
Government Debt to GDP (% of GDP) 157.00 155 155 155 150 150
Government Budget (% of GDP) -8.90 -7.6 -7.6 -7.6 -7.6 -5
Government Revenues (CVE Millions) 15844.00 11500 11800 12300 12500 14000
Government Spending (CVE Million) 10915.00 9674 10633 11515 11537 12218

Taxes Actual Q2 Q3 Q4 Q1 2023
Sales Tax Rate (%) 15.00 15 15 15 15 15

Business Actual Q2 Q3 Q4 Q1 2023
Business Confidence (points) -1.00 4 8 10 12 15

Consumer Actual Q2 Q3 Q4 Q1 2023
Consumer Confidence (points) 12.00 13 16 15 18 18
Private Sector Credit (CVE Million) 122011.60 121500 120800 121200 120500 119000
Consumer Spending (CVE Million) 29991.00 2800 2700 2600 2500 2300


Trading Economics provides data for 20 million economic indicators from 196 countries including actual values, consensus figures, forecasts, historical time series and news. Cape Verde Forecast - was last updated on Sunday, June 26, 2022.