Compare Cape Verde (2008) - Cape Verde (2007)

Compare Cape Verde (2008) z Cape Verde (2007)

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	Cape Verde (2008)	Cape Verde (2007)

Budget	revenues: $444.7 million expenditures: $496 million (2007 est.)	revenues: $354.2 million expenditures: $398.5 million (2006 est.)
Diplomatic representation in the US	chief of mission: Ambassador Fatima Lima VEIGA (since 16 August 2007) chancery: 3415 Massachusetts Avenue NW, Washington, DC 20007 telephone: [1] (202) 965-6820 FAX: [1] (202) 965-1207 consulate(s) general: Boston	chief of mission: Ambassador Jose BRITO chancery: 3415 Massachusetts Avenue NW, Washington, DC 20007 telephone: [1] (202) 965-6820 FAX: [1] (202) 965-1207 consulate(s) general: Boston
Economy - overview	This island economy suffers from a poor natural resource base, including serious water shortages exacerbated by cycles of long-term drought. The economy is service-oriented, with commerce, transport, tourism, and public services accounting for 66% of GDP. Although nearly 70% of the population lives in rural areas, the share of food production in GDP is low. About 82% 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 foreign aid and remittances from emigrants; remittances supplement GDP by more than 20%. Economic reforms are aimed at developing the private sector and attracting foreign investment to diversify the economy. Future prospects depend heavily on the maintenance of aid flows, the encouragement of tourism, remittances, and the momentum of the government's development program.	This island economy suffers from a poor natural resource base, including serious water shortages exacerbated by cycles of long-term drought. The economy is service-oriented, with commerce, transport, tourism, and public services accounting for 66% of GDP. Although nearly 70% of the population lives in rural areas, the share of food production in GDP in 2004 was only 12%, of which fishing accounted for 1.5%. About 82% 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 foreign aid and remittances from emigrants; remittances supplement GDP by more than 20%. Economic reforms are aimed at developing the private sector and attracting foreign investment to diversify the economy. Future prospects depend heavily on the maintenance of aid flows, the encouragement of tourism, remittances, and the momentum of the government's development program. Cape Verde has been exploring European Union membership in recent years.
Exchange rates	Cape Verdean escudos (CVE) per US dollar - 81.235 (2007), 87.946 (2006), 88.67 (2005), 88.808 (2004), 97.703 (2003)	Cape Verdean escudos (CVE) per US dollar - 87.946 (2006), 88.67 (2005), 88.808 (2004), 97.703 (2003), 117.168 (2002)
Exports	0 bbl/day (2004)	NA bbl/day
Exports - partners	Spain 39.4%, Portugal 19.3%, Netherlands 11.3%, Germany 10.9%, Morocco 4.1% (2006)	Spain 43.3%, Portugal 21.9%, Netherlands 12.8%, Morocco 4.6% (2006)
GDP - composition by sector	agriculture: 9.3% industry: 16.9% services: 73.9% (2007 est.)	agriculture: 9.6% industry: 16.6% services: 73.8% (2006 est.)
GDP - real growth rate	7% (2007 est.)	5.5% (2005 est.)
Imports	2,080 bbl/day (2004)	NA bbl/day
Imports - partners	Portugal 41.1%, Netherlands 10.6%, Spain 6.5%, Italy 5.5%, Cote d'Ivoire 5.2%, Brazil 4.8% (2006)	Portugal 41.2%, Netherlands 10.6%, Spain 6.2%, Italy 5.5%, Cote d'Ivoire 5.2%, Brazil 4.8% (2006)
Industrial production growth rate	9% (2007 est.)	NA%
Inflation rate (consumer prices)	3% (2007 est.)	5.4% (2006 est.)

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