Market Research In Cape Verde

Cape Verde Profile:

Cape Verde is officially the Republic of Cabo Verde is an island country spanning an archipelago of 10 volcanic islands in the central Atlantic Ocean.
Cape Verde has been a stable representative democracy, and remains one of the most developed and democratic countries in Africa.
Country is lacking natural resources and has developing economy mostly service-oriented, with a growing focus on tourism and foreign investment.
Cape Verde is a member of the African Union. In 2011 Cape Verde ratified the Rome Statute of the International Criminal Court.
Cape Verde has a special partnership status with the EU, under the Cotonou Agreement, and might apply for special membership, because the Cape Verdean escudo, the country’s currency, is indexed to the Euro

Cape Verde Economy:

Cabo Verde’s economy is vulnerable to external shocks and depends on development aid, foreign investment, remittances and tourism.
The economy is service-oriented with commerce, transport, tourism and public services accounting for about three-fourths of GDP.
Tourism is the mainstream of the economy and depends on conditions in the euro-zone countries.
Although about 40% of the population lives in rural areas, the share of food production in GDP is low and suffers from a poor natural resource base, including serious water shortages, exacerbated by cycles of long-term drought and poor soil for growing food on several of the islands.
Economic reforms are aimed at developing the private sector and attracting foreign investment to diversify the economy and mitigate high unemployment.

Cape Verde Facts:

Population: 560,899
Capital: Praia
Largest city: Praia
Area: 4,033 sq km
Major language: Portuguese (official), Crioulo
Major religion: Roman Catholic 77.3%, Protestant 4.6%, other Christian 3.4%, Muslim 1.8%, other 1.3%
Life expectancy: 70.1 years (Male), 74.8 years (Female)
Monetary unit: 1 Cape Verde Escudo(CVE) = 100 Centavos
Main exports: Fuel (re-exports), shoes, garments, fish, hides
GNI per Capita: $6,230

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