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Region:
Western Africa
Capital:
Praia
Population:
415,294 (July
2004 est.)
Surface
area:
4033 sq km
Currency:
escudo
GDP
per capita:
Purchasing Power
Parity - $1,400
(2002 est.)
Background:
The uninhabited
islands were
discovered and
colonized by
the Portuguese
in the 15th century;
Cape Verde subsequently
became a trading
center for African
slaves and later
an important
coaling and resupply
stop for whaling
and transatlantic
shipping. Following
independence
in 1975, and
a tentative interest
in unification
with Guinea-Bissau,
a one-party system
was established
and maintained
until multi-party
elections were
held in 1990.
Cape Verde continues
to exhibit one
of Africa's most
stable democratic
governments.
Repeated droughts
during the second
half of the 20th
century caused
significant hardship
and prompted
heavy emigration.
As a result,
Cape Verde's
expatriate population
is greater than
its domestic
one. Most Cape
Verdeans have
both African
and Portuguese
antecedents.
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
72% of GDP. Although
nearly 70% of
the population
lives in rural
areas, the share
of agriculture
in GDP in 2001
was only 11%,
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.
Prospects for
2004 depend heavily
on the maintenance
of aid flows,
tourism, remittances,
and the momentum
of the government's
development program.
United
Nations Membership
date:
16 September
1975
New
York Mission:
Permanent Mission
of the Republic
of Cape Verde
to the United
Nations
27 East 69th
Street
New York, N.Y.
10021 USA
Telephone: 212-472-0333
Fax: 212-794-1398
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