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Cape verde - Trade & Marketing Information
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ALIGN="RIGHT" SRC="/cgtd/global/africa/capeverd.gif"> Cape verde - key economic data 
Economy Overview:

    Cape Verde's low per capita GDP reflects a poor natural resource base,
    serious water shortages exacerbated by cycles of long-term drought, and a
    high birthrate. The economy is service oriented, with commerce, transport,
    and public services accounting for 60% of GDP. Although nearly 70% of the
    population lives in rural areas, agriculture's share of GDP is only 20%; the
    fishing sector accounts for 4%. About 90% of food must be imported. The
    fishing potential, mostly lobster and tuna, is not fully exploited. Cape
    Verde annually runs a high trade deficit, financed by remittances from
    emigrants and foreign aid, which form important supplements to GDP. Economic
    reforms, launched by the new democratic government in 1991, are aimed at
    developing the private sector and attracting foreign investment to diversify
    the economy. Prospects for 1995 depend heavily on the maintenance of aid
    flows, remittances, and the momentum of the government's development
    program.


National product:
    GDP - purchasing power parity - $410 million (1993 est.)
National product real growth rate:
    3.5% (1992 est.)
National product per capita:
    $1,000 (1993 est.)
Inflation rate (consumer prices):
    7% (1992)
Unemployment rate:
    26% (1990 est.)
Budget:
  revenues:
    $174 million
  expenditures:
    $235 million, including capital expenditures of $165 million (1993 est.)



Industrial production:

    growth rate 3.6% (1990 est.); accounts for 8% of GDP
Electricity:
  capacity:
    15,000 kW
  production:
    40 million kWh
  consumption per capita:
    73 kWh (1993)



Economic Activity


Industries:

    fish processing, salt mining, garment industry, ship repair, construction
    materials, food and beverage production



Agriculture:
    accounts for 20% of GDP (including fishing); largely subsistence farming;
    bananas are the only export crop; other crops - corn, beans, sweet potatoes,
    coffee; growth potential of agricultural sector limited by poor soils and
    scanty rainfall; annual food imports required; fish catch provides for both
    domestic consumption and small exports
Cape verde - key foreign trade data 





Exports:

    $4.4 million (f.o.b., 1992 est.)
  Commodities:
    fish, bananas, hides and skins
   Major Trade Partners::
    Netherlands, Portugal, Angola



Imports:

    $173 million (c.i.f., 1992 est.)
  Commodities:
    foodstuffs, consumer goods, industrial products, transport equipment
   Major Trade Partners::
    Portugal, Netherlands, Germany, Spain
External debt:
    $156 million (1991)
Cape verde - Trade, Industry & Marketing information

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