Cape Verde
Description of Cape Verde
Cape Verde, a nation of volcanic islands off the northwest coast of Africa, is a vibrant and culturally diverse country with a rich history. Known for its stunning beaches, tropical climate, and music scene, Cape Verde has been rapidly developing its economy and infrastructure in recent years. As an analyst, delving into the macroeconomic landscape of Cape Verde presents a fascinating opportunity to study the impact of various economic indicators on this emerging nation's growth and its position in the global arena.
Population And Age Structure
Population, total: Cape Verde has a population of 582,640, which is below the average population of 40,097,746. The country ranks 165 out of 194 countries.
Population ages 0-14 (% of total population): Cape Verde has a percentage of 27.04 for this age group, slightly below the average of 27.34. The country ranks 91 out of 194 countries.
Population ages 0-14, total: Cape Verde has a total population of 157,564 in this age group, significantly below the average of 10,327,379. The country ranks 163 out of 194 countries.
Population ages 15-64 (% of total population): Cape Verde's percentage of 67.59 falls above the average of 63.44. The country ranks 43 out of 194 countries.
Population ages 15-64, total: With a population of 393,798, Cape Verde is below the average of 26,003,407. The country ranks 164 out of 194 countries.
Population ages 65 and above (% of total population): Cape Verde has a percentage of 5.37 for this age group, below the average of 9.22. The country ranks 114 out of 194 countries.
Population ages 65 and above, total: The total population of this age group in Cape Verde is 31,278, significantly lower than the average of 3,766,959. The country ranks 168 out of 194 countries.
Summary
Cape Verde has a relatively small population compared to the global average, with a significant portion of its population falling within the working-age bracket (15-64 years). However, the country has a lower proportion of children (ages 0-14) and elderly individuals (ages 65 and above) compared to the global average. These demographic indicators are crucial for policymakers and investors as they can influence various socio-economic factors such as labor force dynamics, social welfare programs, healthcare needs, and overall economic development strategies.
Population Miscellaneous
For Rural population, Cape Verde has a value of 194299, which is significantly below the average of 18044041.29. This places Cape Verde at rank 162 out of 190 countries in the dataset.
Cape Verde's Rural population (% of total population) is 33.348, lower than the average of 41.16. This places Cape Verde at rank 110 out of 190 countries.
In terms of Urban population, Cape Verde has 388341 individuals, well below the average of 22425747.38, ranking at 161 out of 194 countries.
The Urban population (% of total population) in Cape Verde is 66.652, higher than the average of 59.69. Cape Verde ranks 85 out of 194 countries in this aspect.
Cape Verde's Age dependency ratio (% of working-age population) stands at 47.95, lower than the average of 59.22. The country ranks 152 out of 194 nations.
With a crude Birth rate of 17.158, Cape Verde falls below the average of 19.38. The country ranks 95 out of 192 countries in this metric.
For crude Death rate, Cape Verde's rate of 5.692 is below the average of 8.21, placing it at rank 162 out of 192 countries.
Cape Verde's Fertility rate, total (births per woman), is 1.908, lower than the average of 2.60. The country ranks 110 out of 190 nations in this aspect.
Summary
Cape Verde exhibits below-average figures in key demographic indicators such as rural and urban population, age dependency ratio, crude birth and death rates, and fertility rate. These statistics suggest a unique demographic profile for Cape Verde, with potential implications for its social welfare policies, economic development strategies, and healthcare infrastructure investments.
Military
Analysis of Military Expenditure (current USD): Cape Verde's military expenditure is significantly below the average of $12,904,993,617.16, ranking 148th out of 149 countries in the dataset.
Analysis of Military Expenditure (% of GDP): Cape Verde's military expenditure as a percentage of GDP is lower than the average of 1.90%, standing at 0.66%, and ranking 133rd out of 148 countries.
Analysis of Armed Forces Personnel, total: Cape Verde has 1000 armed forces personnel, well below the average of 165,908.54 personnel, ranking 161st out of 164 countries.
Analysis of Armed Forces Personnel (% of total labor force): Cape Verde's percentage of armed forces personnel in the total labor force is 0.43%, which is lower than the average of 1.28%, placing Cape Verde at 122nd out of 164 countries.
Summary
Cape Verde's military expenditure, both in absolute terms and as a percentage of GDP, is significantly below global averages, ranking low among countries worldwide. Additionally, the country's number of armed forces personnel and their share in the total labor force are also notably below average, indicating a relatively small military presence compared to other nations. These findings are important as they suggest that Cape Verde prioritizes other areas of development over military spending, potentially reflecting its focus on peace and stability or resource allocation towards social and economic sectors.
Natural Resources
- Cape Verde has a Forest area of 457.2 sq. km, significantly below the average of 211,606.1 sq. km, ranking 162 out of 191 countries.
- The Land area in Cape Verde is 4,030 sq. km, far below the average of 665,166.5 sq. km, placing it at rank 166 out of 194 countries.
- With a Surface area of 4,030 sq. km, Cape Verde is well below the average of 689,779.6 sq. km, also ranking 166 out of 194 countries.
- Cape Verde's Arable land spans 50,000 hectares, significantly lower than the average of 7,329,543.2 hectares, ranking 157 out of 190 countries.
- The Land under cereal production in Cape Verde covers 27,581 hectares, notably beneath the average of 4,206,011.6 hectares, positioning it at rank 147 out of 174 countries.
- The Average precipitation in depth in Cape Verde is 228 mm per year, below the average of 1,157.8 mm per year, with a rank of 159 out of 178 countries.
- Cape Verde has Renewable internal freshwater resources totaling 0.3 billion cubic meters, significantly lower than the average of 240.4 billion cubic meters, placing it at rank 165 out of 178 countries.
Summary
Cape Verde exhibits significant disparities in key macroeconomic indicators compared to global averages and rankings among countries. With limited forest, land, arable land, cereal production, precipitation, and freshwater resources, Cape Verde faces challenges in terms of agricultural productivity, environmental sustainability, and water security. Addressing these disparities is crucial for the country's sustainable development, food security, and resilience to climate change impacts.
Resource Rents
1. Total natural resources rents (% of GDP): Cape Verde's value for this attribute is 11.58%, which is significantly higher than the average of 4.63%. This places Cape Verde at rank 27 out of 175 countries in the dataset.
2. Coal rents (% of GDP): In Cape Verde, coal rents account for 11.07% of the GDP, showcasing a substantial difference from the average of 0.40%. This places Cape Verde at the top rank out of 65 countries analyzed.
3. Forest rents (% of GDP): Cape Verde's forest rents contribution to the GDP stands at 0.51%, below the average of 1.53%. This places Cape Verde at rank 72 out of 174 countries considered for this attribute.
Summary
Cape Verde stands out in terms of natural resources rents, with values significantly higher than the global average across various sectors such as total natural resources, coal, and forests. Despite its relatively small size, Cape Verde has managed to leverage its natural resources effectively, ranking competitively compared to a wide range of countries. These statistics are crucial as they reflect Cape Verde's economic reliance and potential vulnerability to fluctuations in global commodity prices, emphasizing the importance of sustainable resource management strategies for future economic stability.
Commodities
- Cereal production (metric tons): Cape Verde's production of 432 metric tons is significantly below the average of 17,249,945.93 metric tons. The country ranks 167 out of 174 countries in this attribute data. - Aquaculture production (metric tons): With a production of 22 metric tons, Cape Verde falls far below the average of 679,642.92 metric tons. The country ranks 160 out of 180 countries in this attribute data. - Capture fisheries production (metric tons): Cape Verde's production of 19,485.25 metric tons is below the average of 467,453.06 metric tons. The country ranks 125 out of 190 countries. - Total fisheries production (metric tons): The country's production of 19,507.25 metric tons is also lower than the average of 1,153,914.85 metric tons. Cape Verde ranks 128 out of 182 countries in this attribute data. - Fertilizer consumption (kilograms per hectare of arable land): Cape Verde's consumption of 5.6728 kilograms per hectare is below the average of 159.04 kilograms per hectare. The country ranks 168 out of 187 countries in this attribute data.
Summary
In analyzing key macroeconomic indicators for Cape Verde, it is evident that the country's production levels in cereal, aquaculture, capture fisheries, and total fisheries lag significantly behind global averages. Additionally, the low fertilizer consumption per hectare of arable land indicates potential challenges in maximizing agricultural productivity and sustainability. These statistics underscore the need for Cape Verde to potentially enhance agricultural practices, invest in modern farming techniques, and explore opportunities to improve resource utilization to foster economic growth and food security.
Intellectual Property
In Cape Verde, Industrial design applications by residents are significantly below the average of 9799.57, with a value of 4, ranking 108 out of 113 countries.
Patent applications by nonresidents are also notably lower than the average of 6538.40, with a value of 4, placing Cape Verde at rank 118 out of 129 countries.
For Patent applications by residents, Cape Verde performs poorly with a value of 1, much lower than the average of 19037.56, resulting in a rank of 116 out of 117 countries.
Trademark applications by nonresidents in Cape Verde stand below the average of 15878.93, with a value of 136, ranking 129 out of 130 countries.
Trademark applications by residents are significantly below the average of 111055.78, with a value of 78, placing Cape Verde at rank 120 out of 129 countries.
Cape Verde's performance in Scientific and technical journal articles is below average with a value of 21.5, compared to the average of 15103.76, resulting in a rank of 162 out of 192 countries.
In terms of Charges for the use of intellectual property payments, Cape Verde's value of 3695371.62 is significantly below the average of 3218843494.39, ranking 115 out of 143 countries.
Similarly, Charges for the use of intellectual property receipts in Cape Verde are notably lower than the average of 3191687117.58, with a value of 39827.18, placing the country at rank 111 out of 122 countries.
Summary
Cape Verde lags behind global averages in key macroeconomic indicators related to industrial design applications, patent applications, trademark applications, scientific and technical journal articles, and charges for the use of intellectual property. These low rankings suggest a potential lack of innovation and intellectual property generation within the country, which could impact its competitiveness, economic growth, and ability to attract foreign investment.
Broad Economy Attributes
- GDP (current US$): Cape Verde's GDP is $1,821,565,613.69, significantly below the average GDP of
$442,870,224,838.68. Cape Verde ranks 168 out of 189 countries in this data set.
- GDP, PPP (current international $): Cape Verde's GDP, PPP is $3,736,804,130.18, well below the average
of $734,141,122,350.78. It ranks 161 out of 181 countries.
- GDP per capita (current US$): Cape Verde's GDP per capita is $3,126.40, lower than the average of
$15,462.11. Cape Verde ranks 130 out of 190 countries.
- GDP per capita, PPP (current international $): Cape Verde's GDP per capita, PPP is $6,413.57, below the
average of $21,251.89. It ranks 123 out of 181 countries.
- GNI (current US$): Cape Verde's GNI is $1,783,145,434.40, significantly below the average of
$452,040,815,370.70. It ranks 166 out of 185 countries.
- GNI, PPP (current international $): Cape Verde's GNI, PPP is $3,657,988,037.28, well below the average
of $730,698,223,823.47. Cape Verde ranks 161 out of 181 countries.
- GNI per capita, PPP (current international $): Cape Verde's GNI per capita, PPP is $6,280, lower than
the average of $20,615.75. It ranks 127 out of 181 countries.
Summary
Cape Verde's key macroeconomic indicators, such as GDP, GDP per capita, and GNI, are significantly below global averages across various metrics. These rankings indicate that Cape Verde is facing economic challenges in terms of its overall economic output, income levels, and purchasing power compared to other countries in the dataset. These findings highlight the need for Cape Verde to focus on strategies for economic growth, development, and improving the well-being of its population to enhance its global competitiveness and resilience in the face of macroeconomic shocks.
Broad Value Added
1. Gross value added at basic prices (GVA) (current US$): Cape Verde's GVA is $1,582,236,968.83, ranking 160 out of 176 countries. The country's GVA is significantly below the attribute average of $360,070,943,595.12.
2. Agriculture, forestry, and fishing, value added (% of GDP): Cape Verde's value added in this sector is 6.19% of GDP, ranking 103 out of 182 countries. This percentage is below the attribute average of 10.86%.
3. Agriculture, forestry, and fishing, value added (current US$): Cape Verde's value added is $112,779,091.95, ranking 162 out of 182 countries. It is notably lower than the attribute average of $19,924,732,828.07.
4. Services, value added (% of GDP): Cape Verde's service value added is 65.98% of GDP, ranking 40 out of 183 countries. This percentage is higher than the attribute average of 56.72%.
5. Services, value added (current US$): The value added in services for Cape Verde is $1,201,931,225.43, placing the country at rank 163 out of 183 countries. This figure is well below the attribute average of $295,837,711,130.69.
6. Industry (including construction), value added (current US$): Cape Verde's value added in the industry sector is $267,526,651.46, ranking 168 out of 183 countries. The country's performance in this sector falls significantly below the attribute average of $118,421,095,413.50.
Summary
Cape Verde exhibits a relatively low level of economic output compared to the global average across various sectors such as agriculture, services, and industry. The country's value added in agriculture, forestry, and fishing, as well as in services, falls notably below the global average figures, while its performance in the industry sector is significantly lacking. These indicators are crucial as they highlight Cape Verde's challenges in diversifying its economy and improving productivity across key sectors to enhance overall economic growth and stability.
Manufacturing Value Added
Regarding Manufacturing, value added (current US$), Cape Verde's value is $94,485,85.41, significantly below the average of $76,207,179,589.66. Cape Verde ranks 158 out of 173 countries in this attribute.
For Manufacturing, value added (% of GDP), Cape Verde's value is 5.19%, which is below the average of 11.90%. Cape Verde ranks 145 out of 173 countries in this attribute.
In terms of Medium and high-tech manufacturing value added (% manufacturing value added), Cape Verde's value of 27.1% is above the average of 24.49%. Cape Verde ranks 60 out of 149 countries for this attribute.
Summary
Cape Verde's manufacturing sector contributes significantly less to its GDP compared to the global average, with a value added of $94,485,85.41, ranking 158th out of 173 countries. However, it surpasses the global average in medium and high-tech manufacturing value added, with a percentage of 27.1%, placing it at 60th out of 149 countries in this category.
These findings are crucial as they highlight Cape Verde's strengths and weaknesses in the manufacturing sector. While the country excels in high-tech manufacturing, its overall manufacturing value added falls below the global average, indicating potential areas for growth and development to boost its economic output and competitiveness on the global stage.
Money
For "Inflation, consumer prices (annual %)", Cape Verde's value of 0.61% is below the attribute average of 8.26%. It ranks 118 out of 165 countries.
Regarding "Inflation, GDP deflator (annual %)", Cape Verde's rate of 0.37% is also below the average of 6.90%. It ranks 137 out of 188 countries.
"Broad money growth (annual %)" in Cape Verde stands at 3.76%, lower than the attribute average of 18.03%. It holds the 125th rank out of 139 countries.
Cape Verde's "Broad money (% of GDP)" is 117.19%, higher than the average of 71.75%, placing it at the 18th position out of 139 countries.
Regarding "Broad money to total reserves ratio", Cape Verde's ratio of 2.90% is below the average of 5.17%. It ranks 59 out of 126 countries.
Summary
Cape Verde exhibits below-average values in key macroeconomic indicators such as inflation rates, broad money growth, and broad money to total reserves ratio. However, it stands out with a higher-than-average "Broad money (% of GDP)" ratio. These indicators are crucial as they reflect the country's economic stability, monetary policy effectiveness, and financial strength in relation to other nations.
Consumption Expenditure
Final consumption expenditure (current US$): Cape Verde's value of 1,800,522,694.47428 is significantly below the average of 381,630,252,515.38. Cape Verde ranks 148 out of 159 countries in this attribute.
Final consumption expenditure (% of GDP): Cape Verde's value of 98.84% is above the average of 82.37%. Cape Verde ranks 21 out of 159 countries in this attribute.
General government final consumption expenditure (current US$): Cape Verde's value of 468,676,272.261271 is far below the average of 93,676,578,238.03. Cape Verde ranks 145 out of 158 countries in this attribute.
General government final consumption expenditure (% of GDP): Cape Verde's value of 25.73% is higher than the average of 18.71%. Cape Verde ranks 19 out of 158 countries in this attribute.
Household and NPISHs Final consumption expenditure (current US$): Cape Verde's value of 1,331,846,422.21301 is well below the average of 290,127,571,157.69. Cape Verde ranks 145 out of 158 countries in this attribute.
Households and NPISHs final consumption expenditure (% of GDP): Cape Verde's value of 73.12% is above the average of 63.68%. Cape Verde ranks 44 out of 158 countries in this attribute.
Summary
Cape Verde's final consumption expenditure in current US$ is significantly lower than the global average, ranking 148 out of 159 countries. However, its final consumption expenditure as a percentage of GDP is higher than average, placing it at 21 out of 159 countries. The government's final consumption expenditure is notably below the average, but its percentage of GDP spent is higher than average.
These indicators are crucial as they reflect Cape Verde's economic structure and the efficiency of its public and private spending. A lower final consumption expenditure in US$ could indicate lower overall economic activity, while higher percentages of GDP spent on consumption may suggest potential inflationary pressures or government dependence on consumption-driven growth.
Investment
Analysis of Key Financial Statistics for Cape Verde:
1. Foreign direct investment, net (BoP, current US$): Cape Verde received a net FDI of -63699178.46 USD, which is significantly lower than the average of -1615235980.51 USD. This places Cape Verde at rank 56 out of 169 countries.
2. Foreign direct investment, net inflows (BoP, current US$): Cape Verde recorded net inflows of 67619883.92 USD, below the average of 5749271080.15 USD. The country ranks 132 out of 182 in this metric.
3. Foreign direct investment, net inflows (% of GDP): Cape Verde's FDI inflows as a percentage of GDP stand at 3.71%, higher than the average of 2.61%. This places Cape Verde at rank 52 out of 178 countries.
4. Foreign direct investment, net outflows (BoP, current US$): Cape Verde had net outflows of 3959881.86 USD, significantly lower than the average of 5707991116.07 USD. The country ranks 103 out of 156 countries.
5. Foreign direct investment, net outflows (% of GDP): Cape Verde's FDI outflows as a percentage of GDP are 0.22%, below the average of 1.00%. The country is ranked 78 out of 155 countries in this aspect.
6. Portfolio Investment, net (BoP, current US$): Cape Verde experienced net portfolio investment of -234934.42 USD, significantly lower than the average of 679559169.57 USD. The country ranks 81 out of 159 countries for this metric.
Summary
Analysis of Key Financial Statistics for Cape Verde:
Cape Verde's foreign direct investment metrics show mixed results. While the country received lower net FDI than the average, its FDI inflows as a percentage of GDP are higher, indicating potential for economic growth and development. However, Cape Verde has lower net outflows for both FDI and portfolio investments compared to the global average, suggesting a need to attract more investment to support economic diversification and stability.
Debt
Cape Verde's total debt service as a percentage of GNI is 3.33%, which is below the average of 5.98%. The country ranks 70th out of 120 countries in this aspect.
With a public and publicly guaranteed debt service of 3.32% of GNI, Cape Verde exceeds the average of 2.84%. It ranks 41st out of 120 countries for this indicator.
Cape Verde's external debt stocks stand at 116.23% of GNI, significantly surpassing the average of 65.42%. The country is ranked 12th out of 120 countries in this category.
The country's total debt service on external debt is $59,316,134.90, showing a substantial deviation from the average of $9,811,958,39.23. Cape Verde ranks 104th out of 123 countries for this metric.
Cape Verde's debt service on external debt that is public and publicly guaranteed amounts to $59,275,736.00, higher than the average of $3,310,612,057.60. The country ranks 99th out of 123 countries in this aspect.
The external debt stocks for public and publicly guaranteed debt in Cape Verde is $2,025,244,575.90, significantly lower than the average of $28,695,879,144.98. The country is ranked 94th out of 123 countries in this category.
Regarding total external debt stocks, Cape Verde's value is $2,072,584,760.10, which falls below the average of $73,845,530,111.82. The country ranks 101st out of 123 countries for this attribute.
Summary
Cape Verde has a manageable total debt service and public debt service as a percentage of Gross National Income (GNI), ranking moderately compared to 120 countries. However, the country's external debt stocks, especially in relation to its GNI, are relatively high, indicating a heavier reliance on external borrowing. This high level of external debt could potentially impact Cape Verde's economic sovereignty and financial stability in the long term, necessitating careful debt management strategies to ensure sustainable development.
Broad Trade Attributes
Trade (% of GDP): Cape Verde's trade value as a percentage of GDP is slightly below the average of 82.34%, ranking 64 out of 163 countries.
Merchandise trade (% of GDP): Cape Verde's merchandise trade as a percentage of GDP is significantly below the average of 60.01%, ranking 123 out of 186 countries.
Trade in services (% of GDP): Cape Verde's trade in services as a percentage of GDP is above the average of 24.63%, ranking 36 out of 171 countries.
External balance on goods and services (current US$): Cape Verde's external balance on goods and services in current US$ is considerably below the average of $3,405,509,011.13, ranking 92 out of 163 countries.
External balance on goods and services (% of GDP): Cape Verde's external balance on goods and services as a percentage of GDP is well below the average of -5.97%, ranking 151 out of 163 countries.
Summary
Cape Verde's trade value relative to its GDP is slightly below average, mainly driven by merchandise trade which is significantly lower than average. However, the country excels in trade in services, performing above average. Despite this, Cape Verde struggles with its external balance on goods and services, both in absolute terms and as a percentage of GDP, ranking below average globally. These indicators are crucial as they provide insights into the country's economic openness, competitiveness in different trade sectors, and overall economic stability.
Net Trade
1. Current account balance (BoP, current US$): Cape Verde's current account balance is below the average by $1,729,546,213. Rank 92 out of 170 countries.
2. Current account balance (% of GDP): Cape Verde's current account balance as a percentage of GDP is significantly below the average. Rank 158 out of 170 countries.
3. Net trade in goods and services (BoP, current US$): Cape Verde's net trade in goods and services is below the average by $3,189,126,209. Rank 95 out of 171 countries.
4. Net primary income (BoP, current US$): Cape Verde's net primary income is above the average by $865,494,685. Rank 55 out of 170 countries.
5. Net secondary income (BoP, current US$): Cape Verde's net secondary income is above the average by $606,255,008. Rank 89 out of 170 countries.
6. Net trade in goods (BoP, current US$): Cape Verde's net trade in goods is below the average by $1,963,266,570. Rank 96 out of 171 countries.
7. Net capital account (BoP, current US$): Cape Verde's net capital account is below the average by $113,332,437. Rank 96 out of 159 countries.
8. Net financial account (BoP, current US$): Cape Verde's net financial account is above the average by $233,622,236. Rank 91 out of 170 countries.
Summary
Cape Verde's macroeconomic indicators show a consistent trend of below-average current account balance, net trade in goods, and net capital account, while surpassing the average in net primary and secondary incomes and net financial account. These statistics indicate that Cape Verde relies heavily on income from abroad and financial activities to offset trade deficits, reflecting a potential imbalance in its economy that may require attention to promote sustainable economic growth and stability.
Broad Export Attributes
1. Exports of goods, services and primary income (BoP, current US$): Cape Verde's value for this attribute is $448,574,711.97. It is significantly below the average of $146,238,908,936.30, ranking 157th out of 170 countries.
2. Exports of goods and services (BoP, current US$): Cape Verde's value is $423,252,088.52, also below the average of $122,938,540,059.78, ranking 158th out of 170 countries.
3. Exports of goods and services (current US$): Cape Verde's value is $460,735,344.53, below the average of $129,596,864,610.19, ranking 149th out of 163 countries.
4. Exports of goods and services (% of GDP): Cape Verde's value is 25.29%, lower than the average of 38.19%. It ranks 101st out of 163 countries.
5. Goods exports (BoP, current US$): Cape Verde's value is $128,677,755.29, below the average of $93,310,581,697.39, ranking 156th out of 171 countries.
6. International tourism, receipts (% of total exports): Cape Verde's value is 39.93%, well above the average of 9.74%. It ranks 8th out of 120 countries.
7. ICT goods exports (% of total goods exports): Cape Verde's value is 0.07%, significantly lower than the average of 3.81%. It ranks 118th out of 142 countries.
Summary
Cape Verde's macroeconomic analysis reveals that the country has relatively low export values across various categories, ranking below average in most indicators. Particularly concerning is the low ranking in exports of goods and services, primary income, and goods exports, indicating a potential need to diversify its export base. However, Cape Verde excels in international tourism receipts, showcasing a competitive advantage in this sector which could be leveraged for economic growth.
These findings are crucial as they highlight Cape Verde's economic strengths and weaknesses in the global market. By understanding where the country lags behind and where it excels, policymakers can devise strategies to boost export competitiveness, foster economic diversification, and capitalize on the thriving tourism industry to ensure sustainable economic development.
Merchandise Exports
For the attribute of Merchandise exports (current US$), Cape Verde's value of $53,000,000 is significantly below the average of $89,542,711,229.95. With a rank of 175 out of 187 countries, Cape Verde is among the lowest performers in this category.
Agricultural raw materials exports (% of merchandise exports) in Cape Verde stand at 0.0004%, much lower than the average of 2.97%. This places Cape Verde at a rank of 149 out of 151 countries included in the data.
Cape Verde's Food exports (% of merchandise exports) at 84.52% are substantially above the average of 24.06%. This high performance ranks Cape Verde 5th out of 152 countries.
In terms of Ores and metals exports (% of merchandise exports), Cape Verde's 0.0009% is significantly lower than the average of 9.10%. This places the country at a rank of 152 out of 152 countries in the dataset.
Merchandise exports by the reporting economy, residual (% of total merchandise exports) in Cape Verde account for 2.61%, slightly below the average of 3.20%. Cape Verde ranks 34th out of 166 countries in this aspect.
Summary
Cape Verde's key macroeconomic indicators reveal significant disparities with global averages in various export categories. The country underperforms in merchandise exports and ores/metal exports but excels in food exports. These findings are crucial as they highlight Cape Verde's reliance on food exports and the need to diversify its export base to enhance economic resilience and competitiveness in the global market.
Technology Exports
Manufactures exports (% of merchandise exports): Cape Verde's value for this attribute is 15.48%, which is below the average of 42.62%. It ranks 111th out of 152 countries included in the data.
High-technology exports (current US$): Cape Verde's value for this attribute is $62,460, significantly below the average of $16,655,934,078.80. It ranks 148th out of 151 countries included in the data.
High-technology exports (% of manufactured exports): Cape Verde's value for this attribute is 0.76%, well below the average of 10.15%. It ranks 134th out of 150 countries included in the data.
Medium and high-tech exports (% manufactured exports): Cape Verde's value for this attribute is 1.18%, significantly below the average of 34.29%. It ranks 144th out of 149 countries included in the data.
Summary
Cape Verde's macroeconomic indicators for manufactures exports, high-technology exports, high-technology exports as a percentage of manufactured exports, and medium and high-tech exports as a percentage of manufactured exports all reflect the country's limited presence in the global market for advanced products. These rankings suggest that Cape Verde may face challenges in diversifying its economy towards more technologically advanced and value-added industries. To boost economic growth and competitiveness, Cape Verde may need to focus on strategies to enhance its technological capabilities, attract foreign investment in high-tech sectors, and foster innovation within its domestic industries.
Service Exports
Analysis of key statistics for the focus country, Cape Verde:
1. Service exports (BoP, current US$): Cape Verde's value of $294,574,333.24 is significantly below the average of $28,917,292,503.82. Cape Verde ranks 139 out of 171 countries in this attribute.
2. ICT service exports (BoP, current US$): Cape Verde's value of $8,469,371.03 is way below the average of $4,578,501,153.77. Cape Verde ranks 142 out of 166 countries in this attribute.
3. ICT service exports (% of service exports, BoP): Cape Verde's percentage of 2.88% is notably lower than the average of 11.75%. Cape Verde ranks 135 out of 166 countries in this attribute.
4. Communications, computer, etc. (% of service exports, BoP): Cape Verde's percentage of 23.64% is below the average of 45.85%. Cape Verde ranks 131 out of 169 countries in this attribute.
5. Transport services (% of service exports, BoP): Cape Verde's percentage of 20.76% is slightly below the average of 21.80%. Cape Verde ranks 71 out of 169 countries in this attribute.
6. Travel services (% of service exports, BoP): Cape Verde's percentage of 54.03% is well above the average of 26.40%. Cape Verde ranks 25 out of 167 countries in this attribute.
7. Insurance and financial services (% of service exports, BoP): Cape Verde's percentage of 1.57% is lower than the average of 6.46%. Cape Verde ranks 122 out of 161 countries in this attribute.
Summary
Cape Verde's key macroeconomic indicators show that the country has lower values in most service export categories compared to the global average. Particularly, Cape Verde performs below average in ICT service exports and communications-related service exports. However, the country excels in travel services export, surpassing the global average by a significant margin.
These findings are crucial as they indicate Cape Verde's strengths and weaknesses in different service export sectors. By focusing on enhancing its performance in underperforming areas like ICT service exports and communications, Cape Verde can potentially diversify its service export portfolio and improve its overall economic resilience and competitiveness in the global market.
Commercial Service Exports
Analysis of key statistics for Cape Verde:
1. Commercial service exports (current US$): Cape Verde's commercial service exports amount to $268,976,178.20, significantly below the average of $28,508,218,402.80. The country is ranked 139th out of 171 countries.
2. Travel services (% of commercial service exports): Cape Verde's travel services account for 59.17% of its commercial service exports, much higher than the average of 27.89%. This places Cape Verde at the 24th rank out of 167 countries.
3. Computer, communications and other services (% of commercial service exports): Cape Verde's reliance on these services amounts to 16.38% of its commercial service exports, below the average of 42.44%. The country ranks 140th out of 169 countries.
4. Insurance and financial services (% of commercial service exports): Cape Verde's insurance and financial services constitute 1.72% of its commercial service exports, lower than the average of 6.97%. Cape Verde is ranked 121st out of 161 countries in this aspect.
5. Transport services (% of commercial service exports): Cape Verde's transport services make up 22.73% of its commercial service exports, slightly below the average of 23.37%. In this category, Cape Verde ranks 70th out of 169 countries.
Summary
In analyzing key macroeconomic indicators for Cape Verde, it is evident that the country heavily relies on travel services, which account for a significant portion of its commercial service exports at 59.17%. However, Cape Verde lags behind in other key services such as computer, communications, and financial services when compared to the global average. Understanding these statistics is crucial as they highlight areas where Cape Verde can focus on diversifying its economy and enhancing its competitiveness in the global market.
Broad Import Attributes
Imports of goods and services (current US$): Cape Verde's value of 967,252,867.72 is significantly below the average of $126,191,355,599.06. It ranks 147th out of 163 countries.
Imports of goods and services (% of GDP): Cape Verde's value of 53.10% is above the average of 44.15%. It ranks 41st out of 163 countries.
International tourism, expenditures (% of total imports): Cape Verde's value of 5.86% is above the average of 3.98%. It ranks 19th out of 131 countries.
ICT goods imports (% total goods imports): Cape Verde's value of 3.32% is below the average of 6.85%. It ranks 110th out of 143 countries.
Goods imports (BoP, current US$): Cape Verde's value of 789,113,319.58 is significantly below the average of $92,007,788,027.17. It ranks 153rd out of 171 countries.
Imports of goods and services (BoP, current US$): Cape Verde's value of 1,007,648,293.73 is significantly below the average of $120,321,577,988.12. It ranks 153rd out of 170 countries.
Imports of goods, services and primary income (BoP, current US$): Cape Verde's value of 1,071,283,761.86 is significantly below the average of $144,514,428,722.28. It ranks 153rd out of 170 countries.
Summary
Cape Verde exhibits a pattern of significantly lower import values across various categories compared to global averages, ranking relatively low among countries. However, the country tends to have higher percentages of imports relative to its GDP, especially in international tourism expenditures. These indicators suggest that while Cape Verde may have limited financial resources for imports overall, it strategically allocates a significant portion of its GDP towards specific sectors like tourism, potentially highlighting a focus on economic diversification and development through tourism.
Merchandise Imports
1. Merchandise imports (current US$): With a value of $720,000,000, Cape Verde is ranked 168 out of 190 countries in this attribute. The country's value is significantly lower than the average of $89,385,605,262. Cape Verde's merchandise imports are below the average.
2. Manufactures imports (% of merchandise imports): Cape Verde's value of 44.08% is below the average of 66.76%. The country is ranked 150 out of 152 countries in this attribute.
3. Agricultural raw materials imports (% of merchandise imports): At 0.87%, Cape Verde's imports of agricultural raw materials are lower than the average of 1.27%. The country is ranked 103 out of 152 countries.
4. Food imports (% of merchandise imports): Cape Verde's food imports account for 21.98% of merchandise imports, higher than the average of 15.89%. The country is ranked 30 out of 152 countries.
5. Fuel imports (% of merchandise imports): With a value of 32.64%, Cape Verde's fuel imports are significantly higher than the average of 11.38%. The country is ranked 2 out of 152 countries in this attribute.
6. Ores and metals imports (% of merchandise imports): Cape Verde's imports of ores and metals constitute 0.39% of merchandise imports, below the average of 2.57%. The country is ranked 147 out of 152 countries.
7. Merchandise imports by the reporting economy, residual (% of total merchandise imports): At 1.90%, Cape Verde's residual imports are below the average of 2.51%. The country's rank is 45 out of 180 countries in this attribute.
Summary
Cape Verde has below-average levels of merchandise imports in various categories such as manufactures, agricultural raw materials, and ores/metals. However, the country has a higher than average percentage of food and fuel imports. These indicators are important as they provide insights into Cape Verde's trade composition, economic dependency on certain sectors, and overall vulnerability to external market fluctuations.
Service Imports
1. Service imports (BoP, current US$): Cape Verde has a value of 218,534,974.15, which is significantly below the attribute average of 27,615,356,170.47. This places Cape Verde at rank 154 out of 171 countries in the dataset.
2. Communications, computer, etc. (% of service imports, BoP): Cape Verde's value of 41.74% is slightly below the attribute average of 44.40%. The country ranks at 96 out of 169 countries.
3. Transport services (% of service imports, BoP): At 29.69%, Cape Verde's value is below the attribute average of 32.90%. The country ranks 81 out of 169.
4. Travel services (% of service imports, BoP): Cape Verde's value of 23.66% surpasses the attribute average of 14.14%, ranking the country at 29 out of 169.
5. Insurance and financial services (% of service imports, BoP): With a value of 4.91%, Cape Verde falls below the attribute average of 8.53%. The country is ranked 106 out of 169 countries.
Summary
Cape Verde exhibits a mixed profile in key macroeconomic indicators for service imports. While the country's values for communications, transport, and travel services as a percentage of total service imports hover around or below global averages, its performance in insurance and financial services lags behind. These indicators are crucial for assessing the diversity and efficiency of Cape Verde's service sector, highlighting areas that may require attention to boost competitiveness and enhance overall economic growth.
Commercial Service Imports
Cape Verde's commercial service imports amount to $204,920,566.03, ranking 154th out of 171 countries. This value is significantly below the attribute average of $27,102,746,128.60.
In terms of Computer, communications, and other services as a percentage of commercial service imports, Cape Verde stands at 37.87%, below the average of 41.71%. The country ranks 98th out of 169 included nations.
For Insurance and financial services as a percentage of commercial service imports, Cape Verde's value is 5.24%, lower than the average of 8.85%. The country ranks 105th out of 169 countries.
Regarding Transport services as a percentage of commercial service imports, Cape Verde is at 31.67%, lower than the average of 34.71%. It ranks 81st out of 169 countries.
As for Travel services as a percentage of commercial service imports, Cape Verde's value is 25.23%, above the average of 14.73%. This places Cape Verde at the 26th rank out of 169 countries.
Summary
Cape Verde's commercial service imports are significantly below the global average, indicating a limited participation in international trade. The country also shows below-average percentages in key service sectors such as Computer, Communications, and Transport services, reflecting potential areas for development and investment to enhance economic diversification and competitiveness.
Infrastructure
- Air transport, freight: Cape Verde's value of 0.031316 million ton-km is significantly below the average of 1384.3654403116147 million ton-km. With a rank of 119 out of 126 countries, Cape Verde has limited air freight activity compared to other nations in the dataset.
- Air transport, registered carrier departures worldwide: Cape Verde's 4248 departures is well below the average of 134365.60535838926 departures. Ranked 104 out of 149 countries, Cape Verde has relatively low air travel volume compared to other nations in the dataset.
- Air transport, passengers carried: Cape Verde's 226645.666 passengers carried is significantly below the average of 11848242.70036577 passengers. With a rank of 110 out of 149 countries, Cape Verde has a much lower volume of passengers transported by air compared to the dataset average.
- Container port traffic: Cape Verde's 76139 TEU is notably below the average of 6907110.268181819 TEU. Ranked 104 out of 110 countries, Cape Verde has relatively low container port traffic compared to the other nations in the dataset.
Summary
Cape Verde demonstrates significantly lower air transport activity in terms of freight, registered carrier departures, and passengers carried, as well as notably lower container port traffic compared to the dataset averages. These indicators are crucial as they reflect Cape Verde's limited connectivity and trade volume on both air and maritime fronts, which can impact its economic growth, global competitiveness, and integration into the global supply chain network.
Information Technology Infrastructure
1. Secure Internet servers: Cape Verde has 99 secure internet servers, which is significantly below the average of 458,294. Cape Verde's rank is 161 out of 193 countries.
2. Secure Internet servers (per 1 million people): Cape Verde has 169.92 secure internet servers per 1 million people, much lower than the average of 14,067.17. Cape Verde ranks 124 out of 193 countries.
3. Individuals using the Internet (% of population): Cape Verde has 63.16% of its population using the internet, slightly below the average of 64.77%. Cape Verde's rank is 113 out of 180 countries.
4. Fixed broadband subscriptions: Cape Verde has 24,839 fixed broadband subscriptions, which is significantly lower than the average of 6,591,956.35. Cape Verde ranks 150 out of 185 countries.
5. Mobile cellular subscriptions: Cape Verde has 544,729 mobile cellular subscriptions, below the average of 42,526,463.87. Cape Verde's rank is 165 out of 193 countries.
Summary
Cape Verde lags behind global averages in key digital indicators such as secure internet servers, internet usage, fixed broadband subscriptions, and mobile cellular subscriptions. This indicates a need for increased investments in digital infrastructure to improve connectivity and access to online resources for its population. Enhancing these metrics is crucial for fostering economic growth, innovation, education, and communication within the country.
Energy Consumption
For Renewable energy consumption, Cape Verde has a value of 23.42%, which is below the average of 32.18%. This places Cape Verde at rank 98 out of 191 countries in the dataset.
Regarding CO2 emissions, Cape Verde emits 620.6 kt, significantly lower than the average emissions of 171,895.94 kt. This positions Cape Verde at rank 164 out of 188 countries.
Summary
Cape Verde has a relatively low renewable energy consumption of 23.42%, ranking 98th out of 191 countries, and emits significantly less CO2 at 620.6 kt, placing it at 164th out of 188 countries. These indicators suggest that Cape Verde has room for growth in transitioning towards cleaner energy sources and has been successful in controlling its carbon emissions compared to many other nations. These findings are crucial as they highlight Cape Verde's current environmental impact and its potential for sustainable development in the future.
Government Balance Sheet
- Total reserves (% of total external debt): Cape Verde's percentage of total reserves compared to total
external debt is 35.47%, which is below the average of 66.13%. Cape Verde ranks 52 out of 102 countries in
this attribute.
- Reserves and related items (BoP, current US$): Cape Verde's value in this category is -136,528,597.40
USD, significantly below the average of 1,924,407,186.58 USD. Cape Verde ranks 116 out of 171 countries in
this attribute.
- Total reserves minus gold (current US$): With a value of 674,569,597.42 USD, Cape Verde falls well below
the average of 74,221,588,171.61 USD. Cape Verde ranks 135 out of 161 countries in this attribute.
- Total reserves (includes gold, current US$): Cape Verde's total reserves including gold amount to
735,084,797.42 USD, much lower than the average of 85,708,019,773.47 USD. Cape Verde ranks 132 out of 161
countries in this attribute.
- Total reserves in months of imports: Cape Verde's reserves in months of imports stand at 8.23, above the
average of 7.10 months. Cape Verde ranks 42 out of 151 countries in this attribute.
Summary
Cape Verde's total reserves as a percentage of total external debt, reserves and related items, total reserves minus gold, total reserves including gold, and reserves in months of imports all fall below the respective global averages. These lower values indicate potential vulnerability in Cape Verde's ability to meet external financial obligations and to withstand economic shocks compared to the global standard. It is crucial for Cape Verde to strengthen its reserve positions to enhance financial stability and resilience in the face of external economic challenges.
Taxes
For the Tariff rate on all products in Cape Verde, the value of 12.18% is significantly higher than the attribute average of 5.21%. This places Cape Verde at a rank of 13 out of 153 countries included in the data.
Summary
Cape Verde's tariff rate on all products, standing at 12.18%, exceeds the global average of 5.21%, positioning the country at 13th out of 153 nations in the dataset. This high tariff rate suggests that Cape Verde may be protective of its domestic industries, potentially impacting international trade relations and the cost of imported goods for its citizens.
Top Stats
Ranks in Top Decile For:
| Attribute | Rank/Total |
|---|---|
| Coal rents (% of GDP) | 1/65 |
| International tourism, receipts (% of total exports) | 8/120 |
| Food exports (% of merchandise exports) | 5/152 |
| Fuel imports (% of merchandise imports) | 2/152 |
| Tariff rate, applied, weighted mean, all products (%) | 13/153 |
Ranks in Bottom Decile For:
| Attribute | Rank/Total |
|---|---|
| Military expenditure (current USD) | 148/149 |
| Armed forces personnel, total | 161/164 |
| Renewable internal freshwater resources, total (billion cubic meters) | 165/178 |
| Cereal production (metric tons) | 167/174 |
| Industrial design applications, resident, by count | 108/113 |
| Patent applications, nonresidents | 118/129 |
| Patent applications, residents | 116/117 |
| Trademark applications, nonresident, by count | 129/130 |
| Trademark applications, resident, by count | 120/129 |
| Charges for the use of intellectual property, receipts (BoP, current US$) | 111/122 |
| Gross value added at basic prices (GVA) (current US$) | 160/176 |
| Industry (including construction), value added (current US$) | 168/183 |
| Manufacturing, value added (current US$) | 158/173 |
| Final consumption expenditure (current US$) | 148/159 |
| General government final consumption expenditure (current US$) | 145/158 |
| Household and NPISHs Final consumption expenditure (current US$) | 145/158 |
| External balance on goods and services (% of GDP) | 151/163 |
| Current account balance (% of GDP) | 158/170 |
| Exports of goods, services and primary income (BoP, current US$) | 157/170 |
| Exports of goods and services (BoP, current US$) | 158/170 |
| Exports of goods and services (current US$) | 149/163 |
| Goods exports (BoP, current US$) | 156/171 |
| Merchandise exports (current US$) | 175/187 |
| Agricultural raw materials exports (% of merchandise exports) | 149/151 |
| Ores and metals exports (% of merchandise exports) | 152/152 |
| High-technology exports (current US$) | 148/151 |
| Medium and high-tech exports (% manufactured exports) | 144/149 |
| Imports of goods and services (current US$) | 147/163 |
| Manufactures imports (% of merchandise imports) | 150/152 |
| Ores and metals imports (% of merchandise imports) | 147/152 |
| Service imports (BoP, current US$) | 154/171 |
| Commercial service imports (current US$) | 154/171 |
| Air transport, freight (million ton-km) | 119/126 |
| Container port traffic (TEU: 20 foot equivalent units) | 104/110 |