Cape Verde Economy and Business

• GDP: US$1.6 billion (2007).
• Main exports: Shoes, clothes, fish, bananas and salt.
• Main imports: Petroleum, foodstuffs, consumer goods and machinery.
• Main trade partners: Portugal, Japan, The Netherlands and USA.

About one quarter of the working population is engaged in agriculture. Maize and beans are the main crops; a variety of fruit and vegetables are also grown. The agricultural sector is especially vulnerable to the periodic droughts that afflict the islands, often lasting for several years. Meanwhile, the fishing industry is vastly important, contributing almost half of the total export earnings.

A further vital source of national income is the wages of Cape Verdeans working abroad- some 700,000 Cape Verdeans have emigrated, mainly to the USA. 

Annual growth in Cape Verde was at 2.4% in 2008, while inflation stood at 4.5%. However, unemployment continues to be a problem with an estimated 21% of the population still without a job.

All correspondence should be in English or French. Most of Cape Verde’s business links are with Portugal.

Office hours: Mon-Fri 0800-1230 and 1430-1800.

The larger hotels on the main islands can provide conference facilities.

Câmara de Comercío Industria, Agricultura e Serviços de Barlavento
Rua de Luz 31, CP 728, Mindelo, São Vicente, Cape Verde
Tel: 328 495.
Website: www.cciasb.com

Câmara de Comercío Industria e Servícos de Sotavento
Av. Andrade Corvo, Edificio Shopping Moeda, Praia, Santiago, Cape Verde
Tel: 615 352.

Ministry for Education, Science, Youth and Sport (Information on Conferences/Conventions)
Palácio do Governo, Santiago, Praia, Cape Verde
Tel: 610 507.