Cape Verde Economy

Gross Domestic Product 2012

GDP (purchasing power parity): $50.32 billion (2012 est.)

GDP real growth rate: 4.7%

GDP per capita (PPP): $2,300

GDP composition by sector

Agriculture: 19.8%

Industry: 30.9%

Services: 49.3%

Inflation: 4.5% June 2013

Currency: Cape Verdean escudo

Business Languages

The commercial languages include the following

  • Portuguese
  • Kabuverdianu

Transport

In Cape Verde, most of the transportation between islands is done by plane. There are regular flights to and from the major islands (Santiago, Sal and São Vicente), with less frequent flights to the other islands.

Cape Verde has 10,000 kilometers of roadways of which 5,000 kilometrs are paved with cobblestones, 360 kilometers are asphalted.

Ports and harbors: Mindelo on São Vicente is the main port for cruise liners and the terminus for the ferry service to Santo Antão.

Cape Verde has four international airports (Sal, Praia, Boa Vista, and São Vicente) as well as three additional aerodromes.

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Energy in Cape Verde

Cape Verde’s energy sources consist primarily of electricity, wood, solar, wind, biomass and geothermal among others

Challenges in Cape Verde

  • High unemployment
  • Persistent inequality
  • Rising living costs
  • Limited access to health care
  • Continued high dependence on official development assistance
  • Poverty
  • Lack of non-renewable natural resources
  • Poor conditions for agriculture
  • Soil erosion
  • Deforestation
  • Prolonged droughts and volcanic and seismic activity

About The Author

John Muhaise-Bikalemesa (JMB), is the founder of Muhaise.com blog and bigdrumassociates.com company. Learn more about him here and connect with him on his social medias below

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