Cape Verde GDP Annual Growth Rate
The Gross Domestic Product (GDP) in Cape Verde expanded 0.50 percent in 2013 from the previous year. GDP Annual Growth Rate in Cape Verde averaged 5.16 Percent from 1981 until 2013, reaching an all time high of 10.90 Percent in 1999 and a record low of -1.30 Percent in 2009. GDP Annual Growth Rate in Cape Verde is reported by the Banco de Cabo Verde.
||1981 - 2013
Cape Verde is one of the most developed countries in Africa. In recent years, as a result of its solid economic and social performance it has gained the status of middle income country according to United Nations criteria. The most important sector of the economy is services with commerce, transport, government and tourism accounting for the biggest share. Remittances are also crucial (9 percent of GDP). In recent years, foreign direct investment in tourism and manufacturing has been increasing due to stable political environment and increasingly skilled labour force. However, in order to keep current pace of growth, Cape Verde has to address drought prone agriculture, outdated infrastructure and youth unemployment. This page provides - Cape Verde GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.