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Economy of Cape Verde vs Lesotho compared: GDP & Debt

Updated on by Georank

Cape Verde has a GDP of $3.06B compared to $2.57B for Lesotho, ranking 172/197 and 175/197 by economy size, respectively.

Cape Verde has $3.09B in government debt (101% of GDP), compared to $1.26B (49.1% of GDP) in Lesotho.

Cape Verde vs Lesotho GDP by year

Cape Verde
Lesotho
1x
Year GDP, current $
Cape Verde Lesotho
2025 $3,056,630,435 $2,573,572,920
2024 $2,713,721,857 $2,391,282,548
2023 $2,504,525,538 $2,129,871,530
2022 $2,247,003,344 $2,354,980,960
2021 $2,051,842,619 $2,412,130,057
2020 $1,821,565,614 $2,053,699,864
2019 $2,252,177,124 $2,390,702,296
2018 $2,205,099,507 $2,556,247,292
2017 $1,996,741,540 $2,306,741,672
2016 $1,849,789,986 $2,114,426,452
2015 $1,749,857,620 $2,359,686,725
2014 $2,041,930,125 $2,441,063,054
2013 $2,028,910,915 $2,367,112,932
2012 $1,913,081,210 $2,477,702,216
2011 $2,046,817,987 $2,579,409,620
2010 $1,824,751,468 $2,234,754,242
2009 $1,852,334,575 $1,740,894,965
2008 $1,959,620,648 $1,766,902,709
2007 $1,649,621,739 $1,682,131,785
2006 $1,107,571,458 $1,800,092,564
2005 $972,241,677 $1,682,343,527
2004 $924,940,012 $1,511,236,656
2003 $813,260,469 $1,157,825,435
2002 $620,507,387 $775,777,239
2001 $563,090,490 $825,706,961
2000 $539,227,278 $887,291,688
1999 $592,416,703 $912,773,681
1998 $521,910,561 $928,460,893
1997 $490,608,658 $998,004,259
1996 $501,979,270 $946,112,493
1995 $487,148,994 $1,001,894,000
1994 $406,580,652 $878,250,945
1993 $490,417,390 $835,582,062
1992 $357,160,985 $831,029,862
1991 $319,827,059 $704,325,367
1990 $306,890,963 $596,410,264
1989 $267,448,571 $495,409,233
1988 $264,308,140 $470,395,801
1987 $235,253,065 $402,768,324
1986 $190,651,168 $318,858,423
1985 $137,728,205 $268,629,926
1984 $132,019,039 $333,163,670
1983 $138,476,176 $386,699,309
1982 $140,630,679 $348,741,684
1981 $139,468,209 $434,188,034
1980 $142,246,815 $431,542,537
1979 - $290,134,593
1978 - $266,570,067
1977 - $193,315,048
1976 - $147,660,037
1975 - $149,558,896
1974 - $150,851,317
1973 - $121,188,716
1972 - $80,913,200
1971 - $76,480,285
1970 - $68,739,973
1969 - $65,967,974
1968 - $61,445,975
1967 - $59,261,976
1966 - $56,699,977
1965 - $54,879,978
1964 - $51,939,979
1963 - $47,039,981
1962 - $41,859,983
1961 - $35,699,986
1960 - $34,579,986

Data sources: World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08).

GeoRank.org/economy/cape-verde/lesotho | CC BY

GDP per capita in Cape Verde vs Lesotho by year

Cape Verde
GDP per capita

GDP per capita, PPP
Lesotho
GDP per capita

GDP per capita, PPP
1x
Year Current $
Cape Verde Lesotho
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $5,796 - $1,089 -
2024 $5,170 $11,195 $1,023 $3,001
2023 $4,795 $10,242 $921 $2,881
2022 $4,323 $9,481 $1,030 $2,761
2021 $3,971 $7,685 $1,067 $2,545
2020 $3,539 $6,853 $919 $2,559
2019 $4,381 $8,646 $1,082 $2,568
2018 $4,295 $7,916 $1,171 $2,632
2017 $3,893 $7,936 $1,069 $2,619
2016 $3,609 $7,351 $992 $2,942
2015 $3,415 $6,773 $1,121 $3,035
2014 $3,986 $6,417 $1,174 $2,771
2013 $3,961 $6,367 $1,151 $2,538
2012 $3,737 $6,318 $1,218 $2,291
2011 $4,002 $6,384 $1,281 $2,279
2010 $3,579 $6,039 $1,119 $2,153
2009 $3,660 $5,901 $879 $2,036
2008 $3,909 $6,011 $898 $2,064
2007 $3,325 $5,567 $861 $1,932
2006 $2,257 $4,758 $925 $1,813
2005 $2,004 $4,324 $861 $1,681
2004 $1,929 $3,969 $767 $1,561
2003 $1,718 $3,551 $583 $1,484
2002 $1,329 $3,388 $389 $1,385
2001 $1,223 $3,217 $413 $1,350
2000 $1,190 $3,124 $443 $1,273
1999 $1,327 $2,714 $456 $1,199
1998 $1,187 $2,443 $465 $1,179
1997 $1,134 $2,182 $502 $1,154
1996 $1,180 $1,963 $480 $1,103
1995 $1,165 $1,762 $513 $1,037
1994 $991 $1,540 $456 $995
1993 $1,220 $1,291 $439 $932
1992 $908 $1,186 $444 $893
1991 $832 $1,069 $382 $830
1990 $817 $1,044 $330 $764
1989 $727 - $279 -
1988 $729 - $270.4 -
1987 $658 - $236.5 -
1986 $541 - $191.4 -
1985 $396 - $165.4 -
1984 $385 - $211 -
1983 $410 - $252 -
1982 $423 - $233.9 -
1981 $425 - $299.8 -
1980 $440 - $307 -
1979 - - $212.4 -
1978 - - $200.8 -
1977 - - $149.9 -
1976 - - $117.8 -
1975 - - $123.2 -
1974 - - $128.7 -
1973 - - $107 -
1972 - - $74 -
1971 - - $72.4 -
1970 - - $67.4 -
1969 - - $67.1 -
1968 - - $64.8 -
1967 - - $64.8 -
1966 - - $64.3 -
1965 - - $64.3 -
1964 - - $62.6 -
1963 - - $58.4 -
1962 - - $53.5 -
1961 - - $47 -
1960 - - $47 -

Data sources: World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08).

GeoRank.org/economy/cape-verde/lesotho | CC BY

Cape Verde's GDP per capita is $5,796, ranking 116/197, compared to $1,089 in Lesotho, ranking 179/197. Adjusted for purchasing power (GDP per capita PPP), Cape Verde ranks 129th at $11,195, while Lesotho ranks 180th at $3,001.

Economic indicators

Cape Verde Lesotho
Gross domestic product
$3.06B
2025
$2.57B
2025
GDP rank
172/197
2025
175/197
2025
GDP growth
6.3%
2024-2025
1.98%
2024-2025
GDP per capita
$5,796
2025
$1,089
2025
GDP per capita rank
116/197
2025
179/197
2025
GDP per capita, PPP
$11,195
2024
$3,001
2024
GDP per capita PPP rank
129/197
2024
180/197
2024
Government debt
$3.09B
2025
$1.26B
2025
Debt-to-GDP ratio
101%
2025
49.1%
2025
Government debt per person
$5,854
2025
$535
2025
Government debt per person rank
77/185
2025
165/185
2025
Average annual personal income after taxes
$2,506
2026
$1,455
2026
Income share by richest 10%
32.3%
2015
32.9%
2017
Income share by poorest 10%
2.2%
2015
1.7%
2017
Government expenditure, % of GDP
27%
2025
54.2%
2025
Consumer prices inflation
2.3%
2024-2025
4.27%
2024-2025
Central bank interest rate
1.5%
2024
6.5%
2025
Unemployment rate
11.3%
2019
18.7%
2024
Population
530853
2402837

Spending and national debt comparison by year

Cape Verde
Spending

Debt
Lesotho
Spending

Debt
1x
Year % of GDP
Cape Verde Lesotho
Government spending Government debt Government spending Government debt
2025 27% 101% 54.2% 49.1%
2024 26.1% 112.8% 52.5% 52.8%
2023 25.7% 117.5% 49% 61.1%
2022 26.6% 127.6% 50.8% 64.4%
2021 30.8% 149.5% 53.6% 58%
2020 34.5% 149.1% 54.2% 54.7%
2019 27.5% 109.8% 52.9% 58.2%
2018 27.5% 112.3% 51.9% 48.2%
2017 28% 113% 50.4% 41%
2016 26.6% 115.6% 54.1% 41.5%
2015 28.7% 115.7% 51.7% 45.8%
2014 27.8% 105.7% 50.1% 41.5%
2013 30.9% 93.5% 58.4% 41.2%
2012 31.6% 82.9% 58.1% 39.8%
2011 30.3% 71.6% 60.2% 36.2%
2010 35.7% 66.2% 55.3% 33.8%
2009 30.6% 58.8% 66.4% 35.9%
2008 27.6% 57.5% 54.1% 47%
2007 27.1% 59.6% 48.1% 49.6%
2006 28.4% 66.2% 43.2% 43.7%
2005 26.2% 66.7% 37.6% 41%
2004 26.3% 67.8% 36.3% 49.4%
2003 23.4% 65.6% 39.8% 52.6%
2002 28.5% 64.7% 41.2% 79.6%
2001 24.2% 62.2% 41.4% 108.7%
2000 36.7% 71.9% 39.3% 88.5%
1999 35% 66.4% 50.8% 83%
1998 29.8% 72.9% 51.4% 79.4%
1997 34.8% 79.3% 44.6% 65.7%
1996 38.9% 85.7% 41.5% 71.6%
1995 44.5% 74.3% 42.1% 62.8%
1994 48.1% 73.4% 40.2% 67%
1993 - - 36% 71.2%
1992 - - 35.3% 64.4%
1991 - - 31.3% 11.9%
1990 - - 32.9% 18%
1989 - - 35.8% 112.5%
1988 - - 35.3% 105.2%
1987 - - 40.3% 97.4%
1986 - - 33.2% 92.5%
1985 - - 32.8% 86.3%
1984 - - 26.8% 57.2%
1983 - - 27.2% 56.7%
1982 - - 29.9% 61.4%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1982–1996, retrieved 2026-07-08).

GeoRank.org/economy/cape-verde/lesotho | CC BY

In 2025, Cape Verde's government spending was $827M, accounting for 27% of its GDP, while Lesotho spent $1.4B, or 54.2% of GDP.

Debt-to-GDP ratio is 101% in Cape Verde and 49.1% in Lesotho, ranking 23/185 and 106/185, respectively.

Government deficit by year

Deficit/surplus
Cape Verde

Lesotho
1x
Year Deficit/surplus, % of GDP
Cape Verde Lesotho
2025 1.06% 2.15%
2024 -1.07% 8.17%
2023 -0.28% 7.36%
2022 -4.25% -6.33%
2021 -7.51% -4.79%
2020 -9.29% 1.45%
2019 -1.62% -5.09%
2018 -2.36% -4.41%
2017 -2.63% -2.02%
2016 -2.73% -9.43%
2015 -4.16% -1.38%
2014 -6.93% 3.16%
2013 -8.49% -2.58%
2012 -9.36% 4.56%
2011 -6.98% -9.85%
2010 -9.6% -1.49%
2009 -5.32% -4.16%
2008 -1.42% 8.1%
2007 -0.86% 10.8%
2006 -4.32% 11.6%
2005 -4.69% 4.46%
2004 -2.98% 6.05%
2003 -3.63% 0.89%
2002 -6.14% -2.44%
2001 -5.03% -2.76%
2000 -15.5% -0.95%
1999 -10.9% -15.3%
1998 -3.16% -11.8%
1997 -10.2% 0.27%
1996 -11.2% 2.11%
1995 -11.1% 5.13%
1994 -12.8% 5.69%
1993 - 7.55%
1992 - 4.65%
1991 - 9.74%
1990 - 8.78%
1989 - 3.88%
1988 - -1.87%
1987 - -2.85%
1986 - 0.87%
1985 - 1.68%
1984 - 4.82%
1983 - 1.85%
1982 - -2.03%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1982–1989, retrieved 2026-07-08).

GeoRank.org/economy/cape-verde/lesotho | CC BY

In 2025, Cape Verde's government surplus, the difference between spending and revenue, was $32.3M, equivalent to 1.06% of GDP. This compares to Lesotho's surplus of $55.4M, or 2.15% of GDP.

Over the past 32 years, Cape Verde recorded a fiscal deficit in 31 of those years, while Lesotho ran a deficit in 16 years. On average, Cape Verde posted an annual deficit equal to 5.8% of GDP, compared to deficit of 0.09% of GDP for Lesotho.

Inflation comparison by year

Inflation
Cape Verde

Lesotho
1x
Year Consumer prices inflation
Cape Verde Lesotho
2025 2.3% 4.27%
2024 1.1% 6.11%
2023 3.7% 6.34%
2022 7.9% 8.27%
2021 1.9% 6.05%
2020 0.6% 4.98%
2019 1.1% 5.19%
2018 1.3% 4.75%
2017 0.8% 4.45%
2016 -1.4% 6.6%
2015 0.1% 3.22%
2014 -0.2% 5.37%
2013 1.5% 4.87%
2012 2.5% 6.05%
2011 4.5% 5.04%
2010 2.1% -2.41%
2009 1% -16.9%
2008 6.8% 10.7%
2007 4.4% 8.01%
2006 4.8% 6.07%
2005 0.4% 3.44%
2004 -1.9% 5.02%
2003 1.2% 6.63%
2002 1.9% 33.8%
2001 3.7% -9.62%
2000 -2.4% 6.13%
1999 4.3% -
1998 4.4% -
1997 8.6% -

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2025, retrieved 2026-07-08); World Bank | Economy & Growth (2000–2025, retrieved 2026-07-08).

GeoRank.org/economy/cape-verde/lesotho | CC BY

Over the past 26 years, Cape Verde has recorded an average annual inflation rate of 1.91%, compared with 5.1% in Lesotho. In 2025, inflation was 2.3% in Cape Verde and 4.27% in Lesotho.

Balance of trade

Cape Verde Lesotho
Current account balance
$108M
2025
-$3.94M
2025
Current account balance ranking
63/190
2025
71/190
2025
Current account balance, % of GDP
+3.53%
2025
-0.15%
2025
Goods imports
$1.29B
2025
$1.69B
2025
Goods exports
$344M
2025
$933M
2025
Service imports
$350M
2025
$467M
2025
Service exports
$940M
2025
$16M
2025
Imports of goods and services, % of GDP
53.4%
2025
104.5%
2025
Exports of goods and services, % of GDP
42%
2025
49.5%
2025

Economic freedom indices

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

Cape Verde Lesotho
Economic freedom 71.4 54.9
Economic freedom ranking 32/197 130/197
Property rights 72.7 41.7
Government integrity 63.3 39.6
Judicial effectiveness 77.1 43.6
Tax burden 84.4 76.4
Government spending 79.5 21.3
Fiscal health 74.4 93.5
Business freedom 78.9 50.6
Labor freedom 59.5 57
Monetary freedom 80.4 74.8
Trade freedom 66.6 65.4
Investment freedom 60 55
Financial freedom 60 40

Economic freedom comparison by year

Cape Verde
Lesotho
1x
Year Economic freedom index
Cape Verde Lesotho
2026 71.4 54.9
2025 68.7 54.1
2024 62.9 51.9
2023 65.8 51.6
2022 66.7 48.1
2021 63.8 53.5
2020 63.6 54.5
2019 63.1 53.1
2018 60 53.9
2017 56.9 53.9
2016 66.5 50.6
2015 66.4 49.6
2014 66.1 49.5
2013 63.7 47.9
2012 63.5 46.6
2011 64.6 47.5
2010 61.8 48.1
2009 61.3 49.7
2008 57.9 52.1
2007 56.5 53.2
2006 58.6 54.7
2005 57.8 53.9
2004 58.1 50.3
2003 56.1 52
2002 57.6 48.9
2001 56.3 50.6
2000 51.9 48.4
1999 50.7 48.2
1998 48 48.4
1997 47.7 47.2
1996 49.7 47

Data sources: The Heritage Foundation | Economic Freedom Index (1996–2026, retrieved 2026-07-08).

GeoRank.org/economy/cape-verde/lesotho | CC BY

The Economic Freedom Index for Cape Verde is 71.4, ranking 32/197, compared to 54.9 for Lesotho, ranking 130/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Cape Verde Lesotho
Services, % of GDP
67.9%
2025
55.6%
2025
Industry, % of GDP
10.7%
2025
25.2%
2025
Agriculture, forestry, and fishing, % of GDP
5.04%
2025
6.49%
2025
GNI, Atlas method
$2.95B
2025
$3.03B
2025
GNI per capita, PPP
$12,010
2025
$3,900
2025
Total reserves including gold
$1.26B
2025
$1.01B
2024
Total reserves ranking
138/177
2025
142/177
2024
Net foreign direct investment
-$130M
2025
$5.77M
2025
Net inflows of foreign direct investment
$110M
2024
-$12.6M
2024
Net outflows of foreign direct investment
$20.8M
2024
$0
2024
Servicing debt to the IMF, % of GNI
5.72%
2024
3.79%
2024
Poverty at national poverty lines
24.8%
2023
49.7%
2017
Gross capital formation, % of GDP
17.4%
2025
31.2%
2025

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2025, retrieved 2026-07-08); U.S. Census Bureau (1985–2025, retrieved 2026-07-08).

GeoRank.org/economy/cape-verde/lesotho | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08)
  3. The Heritage Foundation | Economic Freedom Index (1996–2026, retrieved 2026-07-08)
  4. U.S. Census Bureau (1985–2025, retrieved 2026-07-08)
  5. International Monetary Fund (IMF) | Public Finances in Modern History (1982–1996, retrieved 2026-07-08)
  6. United Nations | World Population Prospects (2026, retrieved 2026-07-08)
  7. LivingCost (2026, retrieved 2026-07-08)

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.