Praia -> Economy

Economy

Cape Verde is primarily an agricultural economy. It employs more than one-third of the population and produces corn (maize), beans, cassava, and sweet potatoes. Livestock raising as the main occupation. The country faces a severe water shortage throughout the year. Desalinisation plants have been built to reduce the islands' severe water shortage. Cape Verde has a low per capita GDP and it reflects a poor natural resource base. The economy is service-oriented, with commerce, transport, and public services accounting for almost 70% of GDP. The fishing potential, mostly lobster and tuna, is not fully exploited. 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.

 

 

 

 

 



Fact File
Area : 4,030 sq km.
Population : 401,343.
Language : Portuguese. People: Creole, African, European.
Religion: Roman Catholic, Protestant