Cape Verde Economic information

Cape Verde is an island country located in West Africa. Its economy is generally based on agriculture, fishing, tourism and the service sector. The agricultural sector forms an important part of the Cape Verdean economy. It is especially common to grow products such as bananas, pineapples, sugar cane, corn and beans. In addition, the country's rich seafood resources also contribute to the growth of the fishing industry. The tourism sector has an important share in the country's economy. Cape Verde attracts tourists due to its natural beauty, white sandy beaches and warm climate. In particular, Praia, the capital of the islands, is a popular destination among tourists. The service sector is also an important component of the economy. The activities of companies that provide services in areas such as banking, insurance and telecommunications contribute to the country's economy. The economy of Cape Verde is classified as a low-income country. The country's income inequality and poverty rates are high. However, some improvements have been seen in recent years with economic growth and development efforts. The country's economic performance fluctuates depending on internal and external factors. In particular, factors such as global economic fluctuations, natural disasters and changes in the prices of agricultural products can affect the economy.