Country profile

Cabo Verde

Republic of Cabo Verde: its economy, what is open there now and who is doing business there.

Open tenders, funding calls and programmes
1Show open
Contract awards on record
596Awards
Companies on record
31
Deals tracked
0
Portuguese Cape Verdean Escudo (CVE) Portuguese civil law
AU, ECOWAS, AfCFTA, CPLP, WTO

Cabo Verde is a small island nation in the Atlantic that has achieved remarkable development outcomes relative to its limited natural resources. The economy is driven by tourism (particularly from Europe), fisheries, remittances from a large diaspora, and services. The country graduated from Least Developed Country (LDC) status in 2007 and has one of Africa's lowest corruption levels (CPI rank 33). The International Business Centre targets financial services and tech companies. Challenges include water scarcity, limited arable land, small market size, and vulnerability to global tourism cycles. The escudo is pegged to the euro, reflecting close ties with Portugal and the EU.

SnapshotIndicatorsCountry FactsFocus SectorsTradeRegulations & TaxesBusinesses (31)

Snapshot

Population~0.5 MWorld Bank, 2025
GDP (current USD)$3.1 BWorld Bank, 2025
GDP per Capita$5,796World Bank, 2025
GDP Growth6.30%World Bank, 2025
Inflation (y/y)~2.34%World Bank, 2025
Unemployment11.94%World Bank, ILO modelled estimate, 2025
Internet Use~74.74%World Bank, 2024
Electrification~95.00%World Bank WDI
CPI Score (Rank)60.0/100 (#33)Transparency Intl
HDI (Rank)0.662 (#130)UNDP HDR
Credit RatingS&P: B+ (Positive), 6 Feb 2026Fitch: B (Positive), 28 Apr 2026Long term foreign currency, checked 6 Nov 2026
MarketBolsa de Valores de Cabo Verde (BVC)

World Bank Indicators Compare with another country

GDP (current USD)$3.1 BWorld Bank, 2025
GDP growth (annual)6.30%World Bank, 2025
GDP per capita (USD)$5,796World Bank, 2025
Population, total527,326World Bank, 2025
FDI net inflows (USD)$153.9 MWorld Bank, 2025
Inflation (consumer prices)2.34%World Bank, 2025
Unemployment (% labour force)11.94%World Bank, 2025
Internet use (% of people)74.74%World Bank, 2024
Trade (% of GDP)95.33%World Bank, 2025

Climate Readiness Full ranking

75out of 100
Advanced readiness
Climate adaptation readiness for Cabo Verde, from 5 of 5 measured indicators.
Energy access9595.0% · 30% weight
Governance readiness6060 / 100 CPI · 20% weight
Human readiness660.662 HDI · 20% weight
Economic readiness73$5,796, 2025 · 15% weight
Digital readiness6969.0% · 15% weight
This scores climate adaptation readiness (adaptive capacity), following the readiness dimension of the ND-GAIN framework, from five measured indicators scaled 0 to 100. It does not measure emissions or physical climate vulnerability. Energy access is the most climate-specific of the five; the others cover governance, the economy, human development and digital readiness. The economic sub-score is relative to the African countries we cover.
How this is computed

Adaptive capacity to absorb climate finance and adapt, following the readiness dimension of the ND-GAIN framework, from measured indicators only. It is not a measure of emissions or physical climate vulnerability.

  • Energy access (30%): World Bank, access to electricity (% of population). The single most climate and energy specific signal held: SDG 7 and the clean-energy transition.
  • Governance readiness (20%): Transparency International, Corruption Perceptions Index (0-100). ND-GAIN governance readiness: the capacity to govern and deploy climate finance. Higher is cleaner.
  • Human readiness (20%): UNDP, Human Development Index (0-1). ND-GAIN social readiness: the adaptive capacity of the population.
  • Economic readiness (15%): World Bank, GDP per capita (current US$), latest measured year. ND-GAIN economic readiness: the capacity to finance adaptation. Scored relative to the covered set.
  • Digital readiness (15%): World Bank, individuals using the Internet (% of population). Information systems for early warning and adaptation.

A country is scored only when at least 4 of the five indicators are held. Sub-scores are weighted and renormalised over the indicators that are present; nothing is estimated for one that is absent.

Country Facts

CapitalPraia
RegionWest Africa
CurrencyCape Verdean Escudo (CVE)
FX RegimeFixed peg to EUR (CVE 110.265 = 1 EUR)
Stock ExchangeBolsa de Valores de Cabo Verde (BVC)
Legal SystemPortuguese civil law
Time ZoneAtlantic/Cape_Verde

Focus Sectors

Tourism
Fisheries
Services
Renewable Energy
Maritime Services
ICT
Agriculture
Construction
Remittances

Trade

Exports $86.5M (2024)

2.0% to other African countries

Top export partners

Spain
56.4%
Italy
12.8%
Portugal
12.7%
India
6.1%
USA
5.0%
United Kingdom
1.1%
Estonia
0.9%
Gambia
0.8%
Canada
0.5%
Mozambique
0.4%

Top export products (HS 4)

Prepared or preserved fish
67.6%
Ferrous waste and scrap
3.8%
Footwear
3.1%
Fishing rods, fish-hooks and other line fishing tackle
2.9%
Underpants, briefs, nightshirts, pyjamas, bathrobes, dressing gowns and similar articles
2.2%
T-shirts, singlets and other vests
2.1%
Suits, ensembles, jackets, blazers, trousers, bib and brace overalls, breeches and shorts (other than swimwear)
1.5%
Copper
1.5%
Telephone sets, including smartphones and other telephones for cellular/wireless networks
1.0%
Ethyl alcohol, undenatured
0.9%

By HS chapter

Meat, fish, crustaceans, molluscs or other aquatic invertebrates, or insects 67.7%Apparel and clothing accessories; knitted or crocheted 4.4%Iron and steel 3.8%Footwear 3.2%Toys, games and sports requisites 3.1%Machinery and mechanical appliances, boilers, nuclear reactors 2.9%Electrical machinery and equipment and parts thereof 2.4%Fish and crustaceans, molluscs and other aquatic invertebrates 2.0%Apparel and clothing accessories; not knitted or crocheted 1.8%Copper and articles thereof 1.5%

Imports $997.3M (2024)

2.1% from other African countries

Top import partners

Portugal
41.2%
China
11.3%
Netherlands
9.2%
Spain
8.4%
Italy
7.0%
Brazil
4.6%
France
2.9%
Australia
2.9%
Belgium
2.1%
Thailand
1.1%

Top import products (HS 4)

Petroleum oils and oils from bituminous minerals, not crude
16.5%
Motor cars and other motor vehicles
2.4%
Meat and edible offal of poultry
2.0%
Rice
1.8%
Portland cement, aluminous cement (ciment fondu), slag cement, supersulphate cement and similar hydraulic cements, whether or not coloured or in the form of clinkers
1.8%
Oils and other products of the distillation of high temperature coal tar
1.5%
Prepared or preserved fish
1.5%
Coal
1.5%
Milk and cream
1.5%
Iron ores and concentrates
1.4%

By HS chapter

Mineral fuels, mineral oils and products of their distillation 19.7%Machinery and mechanical appliances, boilers, nuclear reactors 7.2%Electrical machinery and equipment and parts thereof 4.6%Vehicles 4.5%Dairy produce 3.6%Meat and edible meat offal 3.4%Plastics and articles thereof 3.2%Meat, fish, crustaceans, molluscs or other aquatic invertebrates, or insects 2.9%Animal, vegetable or microbial fats and oils and their cleavage products 2.6%Cereals 2.5%

Source: CEPII BACI (version 202601, updated 22 Jan 2026), Etalab 2.0 (licence). Goods only, HS 2022, current USD, 2024. Aggregated by allbusiness.africa.

Regulations & Taxes

Corporate Income Tax22% standard (reduced rates for industrial/tourism)
VAT / Sales Tax15% standard

Contract Awards

View All

ASSOCIACAO DAS MULHERES DO PLANALTO LESTE: 101084398 - CIRAWA - AGRO-ECOLOGICAL STRATEGIES FOR RESILIENT FARMING IN WEST AFRICA

European Research Executive Agency (REA)

REPUBLICA DE CABO VERDE*REPUBLIQUEDU CAP VERT REPUBLIC OF CAPE VERDE: 101084398 - CIRAWA - AGRO-ECOLOGICAL STRATEGIES FOR RESILIENT FARMING IN WEST AFRICA

European Research Executive Agency (REA)

UNIVERSIDADE DE CABO VERDE: 101092500 - SPECTACOLO - IMPROVEMENT OF VET OFFER FOR THEATRE PROFESSIONS

Education, Audiovisual and Culture Executive Agency (EACEA)

ASSOCIACAO DOS JOVENS AGRICULTORESDA ZONA PERI-URBANA DE PORTO NOVO - AJAZPUPN: 101084398 - CIRAWA - AGRO-ECOLOGICAL STRATEGIES FOR RESILIENT FARMING IN WEST AFRICA

European Research Executive Agency (REA)