Markets Actual Q2 Q3 Q4 Q1 2022
Currency 90.54 91.75 92.15 92.56 92.97 93.77

Overview Actual Q2 Q3 Q4 Q1 2022
GDP Annual Growth Rate (%) -14.60 25 17.5 6 6.2 6.1
Unemployment Rate (%) 12.30 12.8 12.8 12.8 12.4 12.4
Inflation Rate (%) 0.00 0.4 0.6 1.1 1.5 1.3
Interest Rate (%) 0.25 0.25 0.25 0.25 0.25 0.25
Balance of Trade (CVE Million) -4351.80 -5830 -5830 -5712 -5712 -6660
Current Account (CVE Million) -8730.80 -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) -8.90 -8 -8 -8 -8 -6
Business Confidence (points) -15.00 -15 -12 -10 5 8
Consumer Confidence (points) 8.00 13 15 17 18 20

GDP Actual Q2 Q3 Q4 Q1 2022
GDP Annual Growth Rate (%) -14.60 25 17.5 6 6.2 6.1
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 6850 6850 6850 6850 7000
GDP From Agriculture (CVE Million) 1156.00 2840 1559 1407 1409 1492
GDP From Construction (CVE Million) 4469.00 3376 5364 4839 4848 5134
GDP From Manufacturing (CVE Million) 2565.00 2034 2381 2148 2152 2279
GDP From Mining (CVE Million) 90.00 68.75 108 97.52 97.7 103
GDP From Public Administration (CVE Million) 8124.00 8998 9028 8144 8159 8641
GDP From Services (CVE Million) 3746.00 3316 3973 3584 3591 3802
GDP From Transport (CVE Million) 2967.00 1410 2718 2452 2456 2601
GDP From Utilities (CVE Million) 1296.00 1560 1547 1396 1399 1481

Labour Actual Q2 Q3 Q4 Q1 2022
Unemployment Rate (%) 12.30 12.8 12.8 12.8 12.4 12.4
Population (Million) 0.55 0.56 0.56 0.54 0.54 0.54
Employed Persons (Thousand) 206344.00 198000 198000 197000 197000 197000
Employment Rate (%) 50.90 51.3 51.3 51 51 51
Labor Force Participation Rate (%) 57.04 60 60 62 62 62
Minimum Wages (CVE/Month) 13000.00 15000 15000 15000 15000 15000
Unemployed Persons (Thousand) 26259.00 28600 28600 29000 29000 29000
Youth Unemployment Rate (%) 28.37 32 32 29.7 29.7 29.7

Prices Actual Q2 Q3 Q4 Q1 2022
Inflation Rate (%) 0.00 0.4 0.6 1.1 1.5 1.3
Food Inflation (%) -3.30 0.7 1 1 1 2.3
Consumer Price Index CPI (points) 102.11 102 102 103 104 104
Core Inflation Rate (%) 1.00 1.3 1.5 1.7 1.4 1.8
Inflation Rate Mom (%) 0.70 0.5 0.5 0.6 0.6 0.4

Money Actual Q2 Q3 Q4 Q1 2022
Interest Rate (%) 0.25 0.25 0.25 0.25 0.25 0.25
Foreign Exchange Reserves (CVE Million) 60323.30 61970 61970 62700 62700 62700
Deposit Interest Rate (%) 1.50 1.5 1.5 3 1.5 1.5
Banks Balance Sheet (CVE Million) 237242.93 252000 252000 250000 250000 254000

Trade Actual Q2 Q3 Q4 Q1 2022
Balance of Trade (CVE Million) -4351.80 -5830 -5830 -5712 -5712 -6660
Current Account (CVE Million) -8730.80 -1780 -1780 -1780 -1780 -2714
Current Account to GDP (%) -0.20 -7 -7 -7 -7 -4.7
Imports (CVE Million) 4805.10 6500 6500 7400 7400 7400
Exports (CVE Million) 186.20 670 670 740 740 740
Remittances (CVE Million) 2296.60 1400 1400 1400 1400 1577
Tourist Arrivals 9034.00 157000 170000 170000 170000 180000
Foreign Direct Investment (CVE Million) 1886.60 1500 1500 1750 1750 1750

Government Actual Q2 Q3 Q4 Q1 2022
Government Debt to GDP (%) 124.70 138 138 138 138 137
Government Budget (% of GDP) -8.90 -8 -8 -8 -8 -6
Government Spending (CVE Million) 7067.00 8800 8304 7491 7505 7948

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

Business Actual Q2 Q3 Q4 Q1 2022
Business Confidence (points) -15.00 -15 -12 -10 5 8

Consumer Actual Q2 Q3 Q4 Q1 2022
Consumer Confidence (points) 8.00 13 15 17 18 20
Consumer Spending (CVE Million) 24395.00 28188 28664 25859 25907 27436


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.