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Cape Verde

Cape Verde Economic Outlook

Following weak GDP growth averaging 1.8% between 2010 and 2015, the economy picked up in 2016, registering 3.8% growth, driven by agriculture and services (primarily tourism). Domestic demand showed signs of recovery following an increase in government spending and private-sector credit. The trend continues, with GDP growth estimated at 4% in 2017 and projected at 4.1% in 2018, boosted by the recovering tourism sector. Diversifying the economy remains a priority for long-term sustainable growth. Services account for approximately 70% of GDP, of which tourism accounts for 20%.

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Key Facts

Flag:
Capital: Praia
Area: 4,033 sq km
Total Population 2017: 0.5 Million
Urban Population 2017: 73.50%
Female Population 2017: 49.70%
GDP: US$ 1.8 Billion
GNI Per Capita 2015: US$ 1,330
Inflation Rate: -
Crude Birth Rate (per 1000): 20.40%
Human Development Index (rank / 188): 122
Human Development Index (scale 0 to 1): 0.648
Membership Date: 15/04/1976
Cumulative Approvals (1967-2016): UA 363.3 Million

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Contacts

Senegal Country office

Groupe de la Banque africaine de développement
Immeuble Coumba, 2eme étage
Route de Ngor, Zone 12
Les Almadies
BP 50544 - CP 18524 RP
Dakar, Sénégal

Tél : +221 338200888/338697544
Fax : +221 338200999

Mr Serge N'guessan, Country Manager

West Africa Region

Mr. M. Janvier LITSE, Director West Africa Region

African Development Bank Group
24ème Etage, Immeuble CCIA, Plateau
01 Boite Postale 1387 Abidjan 01
Côte d’Ivoire

TEL. : (+225) 20 26 40 47