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 January 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 -8181.60 -1292.50 2823.00 -11803.10 CVE Million [+]
Current Account to GDP -0.20 -4.50 3.04 -16.20 percent [+]
Imports 5741.30 6483.50 32602.32 2004.13 CVE Million [+]
Exports 324.20 504.50 4909.34 37.30 CVE Million [+]
Remittances 1952.80 1496.50 2169.30 523.08 CVE Million [+]
Tourist Arrivals 170778.00 224049.00 312880.00 71246.00 [+]
Foreign Direct Investment 1309.20 1617.50 8369.50 -488.40 CVE Million [+]
Capital Flows -4183.40 -302.20 2517.80 -9432.47 CVE Millions [+]


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.