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Economy of Cape Verde vs Cayman Islands compared: GDP & Debt

Updated on by Georank team

Cape Verde has a GDP of $2.73B compared to $7.24B for the Cayman Islands, ranking 172/197 and 158/197 by economy size, respectively.

Cape Verde vs Cayman Islands GDP by year

Cape Verde
Cayman Islands
1x
Year GDP, current $
Cape Verde Cayman Islands
2024 $2,725,414,151 -
2023 $2,504,525,549 $7,241,244,269
2022 $2,247,003,344 $6,660,161,212
2021 $2,051,842,619 $6,060,813,808
2020 $1,821,565,614 $5,655,357,984
2019 $2,252,177,124 $5,941,896,600
2018 $2,205,099,507 $5,530,178,499
2017 $1,996,741,540 $5,166,281,293
2016 $1,849,789,986 $4,909,322,200
2015 $1,749,857,620 $4,708,167,255
2014 $2,041,930,125 $4,562,853,582
2013 $2,028,910,915 $4,405,796,081
2012 $1,913,081,210 $4,291,004,486
2011 $2,046,817,987 $4,186,073,160
2010 $1,824,751,468 $4,156,841,164
2009 $1,852,334,575 $4,281,714,618
2008 $1,959,620,648 $4,585,948,969
2007 $1,649,621,739 $4,466,278,031
2006 $1,107,571,458 $4,200,288,282
2005 $972,241,677 -
2004 $924,940,012 -
2003 $813,260,469 -
2002 $620,507,387 -
2001 $563,090,490 -
2000 $539,227,278 -
1999 $592,416,703 -
1998 $521,910,561 -
1997 $490,608,658 -
1996 $501,979,270 -
1995 $487,148,994 -
1994 $406,580,652 -
1993 $490,417,390 -
1992 $357,160,985 -
1991 $319,827,059 -
1990 $306,890,963 -
1989 $267,448,571 -
1988 $264,308,140 -
1987 $235,253,065 -
1986 $190,651,168 -
1985 $137,728,205 -
1984 $132,019,039 -
1983 $138,476,176 -
1982 $140,630,679 -
1981 $139,468,209 -
1980 $142,246,815 -

Data sources: World Bank | Economy & Growth (1980–2024, retrieved 2026-04-06).

GeoRank.org/economy/cape-verde/cayman-islands | CC BY

GDP per capita in Cape Verde vs Cayman Islands by year

Cape Verde
GDP per capita

GDP per capita, PPP
Cayman Islands
GDP per capita

GDP per capita, PPP
1x
Year Current $
Cape Verde Cayman Islands
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $5,192 $11,195 - -
2023 $4,795 $10,242 $99,144 $88,428
2022 $4,323 $9,481 $93,031 $82,296
2021 $3,971 $7,685 $86,450 $74,160
2020 $3,539 $6,853 $82,339 $66,119
2019 $4,381 $8,646 $88,254 $72,697
2018 $4,295 $7,916 $83,866 $71,812
2017 $3,893 $7,936 $80,054 $68,018
2016 $3,609 $7,351 $77,802 $65,680
2015 $3,415 $6,773 $76,379 $64,009
2014 $3,986 $6,417 $75,845 $63,561
2013 $3,961 $6,367 $75,114 $63,648
2012 $3,737 $6,318 $75,102 $64,727
2011 $4,002 $6,384 $75,281 $66,629
2010 $3,579 $6,039 $76,838 $66,325
2009 $3,660 $5,901 $81,374 $69,254
2008 $3,909 $6,011 $89,655 $76,297
2007 $3,325 $5,567 $89,888 $77,337
2006 $2,257 $4,758 $87,085 $75,191
2005 $2,004 $4,324 - -
2004 $1,929 $3,969 - -
2003 $1,718 $3,551 - -
2002 $1,329 $3,388 - -
2001 $1,223 $3,217 - -
2000 $1,190 $3,124 - -
1999 $1,327 $2,714 - -
1998 $1,187 $2,443 - -
1997 $1,134 $2,182 - -
1996 $1,180 $1,963 - -
1995 $1,165 $1,762 - -
1994 $991 $1,540 - -
1993 $1,220 $1,291 - -
1992 $908 $1,186 - -
1991 $832 $1,069 - -
1990 $817 $1,044 - -
1989 $727 - - -
1988 $729 - - -
1987 $658 - - -
1986 $541 - - -
1985 $396 - - -
1984 $385 - - -
1983 $410 - - -
1982 $423 - - -
1981 $425 - - -
1980 $440 - - -

Data sources: World Bank | Economy & Growth (1980–2024, retrieved 2026-04-06).

GeoRank.org/economy/cape-verde/cayman-islands | CC BY

Cape Verde's GDP per capita is $5,192, ranking 118/197, compared to $99,144 in the Cayman Islands, ranking 6/197. Adjusted for purchasing power (GDP per capita PPP), Cape Verde ranks 129th at $11,195, while the Cayman Islands ranks 10th at $88,428.

Economic indicators

Cape Verde Cayman Islands
Gross domestic product
$2.73B
2024
$7.24B
2023
GDP rank
172/197
2024
158/197
2023
GDP growth
7.24%
2023-2024
5.82%
2022-2023
GDP per capita
$5,192
2024
$99,144
2023
GDP per capita rank
118/197
2024
6/197
2023
GDP per capita, PPP
$11,195
2024
$88,428
2023
GDP per capita PPP rank
129/197
2024
10/197
2023
Government debt
$3.03B
2024
n/a
Debt-to-GDP ratio
111.2%
2024
n/a
Government debt per person
$5,776
2024
n/a
Government debt per person rank
76/185
2024
n/a
Average annual personal income after taxes
$2,576
2026
$93,253
2026
Market capitalization of domestic companies n/a
$644M
2020
Income share by richest 10%
32.3%
2015
n/a
Income share by poorest 10%
2.2%
2015
n/a
Government expenditure, % of GDP
26.1%
2024
14%
2025
Consumer prices inflation
1%
2023-2024
-0.63%
2015-2016
Central bank interest rate
1.5%
2024
n/a
Unemployment rate
11.3%
2019
4.24%
2015
Population
530391
77619

Inflation comparison by year

Inflation
Cape Verde

Cayman Islands
1x
Year Consumer prices inflation
Cape Verde Cayman Islands
2024 1% -
2023 3.7% -
2022 7.9% -
2021 1.9% -
2020 0.6% -
2019 1.1% -
2018 1.3% -
2017 0.8% -
2016 -1.4% -0.63%
2015 0.1% -2.35%
2014 -0.2% 1.27%
2013 1.5% 2.16%
2012 2.5% 1.19%
2011 4.5% 1.33%
2010 2.1% 0.28%
2009 1% -
2008 6.8% -
2007 4.4% -
2006 4.8% -
2005 0.4% -
2004 -1.9% -
2003 1.2% -
2002 1.9% -
2001 3.7% -
2000 -2.4% -
1999 4.3% -
1998 4.4% -
1997 8.6% -

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2024, retrieved 2026-02-20); World Bank | Economy & Growth (2010–2016, retrieved 2026-04-06).

GeoRank.org/economy/cape-verde/cayman-islands | CC BY

Over the past 7 years, Cape Verde has recorded an average annual inflation rate of 1.3%, compared with 0.46% in the Cayman Islands. In 2016, inflation was 1% in Cape Verde and -0.63% in the Cayman Islands.

Balance of trade

Cape Verde Cayman Islands
Current account balance
$107M
2024
-$713M
2023
Current account balance ranking
67/190
2024
116/190
2023
Current account balance, % of GDP
+3.91%
2024
-9.84%
2023
Goods imports
$1.17B
2024
$1.64B
2023
Goods exports
$328M
2024
$150M
2023
Service imports
$298M
2024
$1.8B
2023
Service exports
$830M
2024
$4.45B
2023
Imports of goods and services, % of GDP
54%
2024
45.8%
2020
Exports of goods and services, % of GDP
42.5%
2024
59.6%
2020

Economic freedom indices

The indices of economic freedom below are issued by the Heritage Foundation. Higher scores indicate stronger economic health.

Cape Verde Cayman Islands
Economic freedom 71.4 74
Economic freedom ranking 32/197 22/197
Property rights 72.7 n/a
Government integrity 63.3 n/a
Judicial effectiveness 77.1 n/a
Tax burden 84.4 n/a
Government spending 79.5 n/a
Fiscal health 74.4 n/a
Business freedom 78.9 n/a
Labor freedom 59.5 n/a
Monetary freedom 80.4 n/a
Trade freedom 66.6 n/a
Investment freedom 60 n/a
Financial freedom 60 n/a

Other economic metrics

Cape Verde Cayman Islands
Services, % of GDP
68.7%
2024
86%
2023
Industry, % of GDP
10.7%
2024
7.84%
2023
Agriculture, forestry, and fishing, % of GDP
4.92%
2024
0.42%
2023
GNI, Atlas method
$2.6B
2024
$5.53B
2023
GNI per capita, PPP
$11,000
2024
$68,030
2023
Total reserves including gold
$783M
2024
$234M
2023
Total reserves ranking
144/177
2024
169/177
2023
Net foreign direct investment
-$89.2M
2024
-$5.52B
2023
Net inflows of foreign direct investment
$110M
2024
$35.9B
2024
Net outflows of foreign direct investment
$20.8M
2024
$27.2B
2024
Servicing debt to the IMF, % of GNI
5.69%
2024
n/a
Poverty at national poverty lines
24.8%
2023
n/a
Gross capital formation, % of GDP
16.4%
2024
n/a

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2024, retrieved 2026-04-06); U.S. Census Bureau (1985–2024, retrieved 2026-02-08).

GeoRank.org/economy/cape-verde/cayman-islands | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1980–2025, retrieved 2026-04-06)
  2. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  3. International Monetary Fund (IMF) | World Economic Outlook (1997–2024, retrieved 2026-02-20)
  4. The Heritage Foundation | Economic Freedom Index (2026, retrieved 2026-03-09)
  5. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  6. LivingCost (2026, retrieved 2025-10-14)

Creative Commons Attribution (CC BY) — you’re free to copy, share, remix, adapt, and use even commercially as long as you give appropriate credit and clearly indicate if you made changes. Other sources may be subject to different license terms.

The current account balance is the sum of net trade in goods and services, net earnings from cross-border investments, and net transfer payments. It reflects a country's economic transactions with the rest of the world and is a fundamental component of the balance of payments. A surplus indicates that a country exports more than it imports, while a deficit shows the opposite.

Gross National Income (GNI) measures a country's total income. It encompasses income earned by residents, businesses, and foreign sources, defined as employee compensation and investment profits. GNI adds product taxes not included elsewhere and subtracts subsidies. It accounts for income from residents working abroad but excludes earnings from foreigners within the country.

A negative value for Net Foreign Direct Investment indicates a country is a net receiver of investments, as foreign inflows exceed outflows after Balance of Payments adjustments. A positive value indicates a net provider, with outflows exceeding inflows. Inflows are credits (increasing foreign claims on domestic assets), while outflows are debits (increasing domestic assets abroad).

Foreign direct investment (FDI, net inflows) shows how much capital foreign investors bring into a country after accounting for any funds that flow back in the opposite direction. It represents the net value of overseas companies establishing, expanding, or financing businesses in the reporting country. A positive number means more capital entered the country than was withdrawn, while a negative number means foreign investors pulled out more than they invested.

Foreign direct investment (FDI, net outflows) shows how much capital residents of a country invest abroad after accounting for any funds that flow back in the opposite direction. It represents the net value of domestic companies establishing, expanding, or financing businesses in other countries. A positive number means more capital was invested abroad than withdrawn, while a negative number means residents pulled back more than they invested.

Principal and interest payments to the IMF in currency, goods, or services on long-term debt expressed as a share of GNI.

Formerly gross domestic investment, gross capital formation measures the share of a country’s economic output invested in fixed assets, including buildings, machinery, and infrastructure. It indicates how much of the economy is devoted to building productive capacity.