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Economy of Cape Verde vs Senegal compared: GDP & Debt

Updated on by Georank

Cape Verde has a GDP of $3.06B compared to $37B for Senegal, ranking 172/197 and 107/197 by economy size, respectively.

Cape Verde has $3.09B in government debt (101% of GDP), compared to $48.2B (130.2% of GDP) in Senegal.

Cape Verde vs Senegal GDP by year

Cape Verde
Senegal
1x
Year GDP, current $
Cape Verde Senegal
2025 $3,056,630,435 $37,006,536,238
2024 $2,713,721,857 $32,169,996,052
2023 $2,504,525,538 $30,696,331,296
2022 $2,247,003,344 $27,783,332,223
2021 $2,051,842,619 $27,520,784,130
2020 $1,821,565,614 $24,530,513,038
2019 $2,252,177,124 $23,403,995,992
2018 $2,205,099,507 $23,116,701,556
2017 $1,996,741,540 $20,965,069,573
2016 $1,849,789,986 $19,040,312,333
2015 $1,749,857,620 $17,774,766,696
2014 $2,041,930,125 $19,797,253,440
2013 $2,028,910,915 $18,918,667,725
2012 $1,913,081,210 $17,660,870,412
2011 $2,046,817,987 $17,814,283,639
2010 $1,824,751,468 $16,121,315,909
2009 $1,852,334,575 $16,145,867,495
2008 $1,959,620,648 $16,853,989,628
2007 $1,649,621,739 $13,994,218,413
2006 $1,107,571,458 $11,697,918,243
2005 $972,241,677 $11,009,033,438
2004 $924,940,012 $10,076,816,667
2003 $813,260,469 $8,768,721,563
2002 $620,507,387 $7,006,402,320
2001 $563,090,490 $6,507,824,829
2000 $539,227,278 $6,013,185,004
1999 $592,416,703 $6,592,834,933
1998 $521,910,561 $6,505,607,909
1997 $490,608,658 $6,041,478,726
1996 $501,979,270 $6,559,712,166
1995 $487,148,994 $6,326,342,633
1994 $406,580,652 $5,034,588,196
1993 $490,417,390 $7,367,986,241
1992 $357,160,985 $7,769,817,840
1991 $319,827,059 $7,255,210,470
1990 $306,890,963 $7,390,967,360
1989 $267,448,571 $6,366,039,373
1988 $264,308,140 $6,418,419,389
1987 $235,253,065 $6,487,353,103
1986 $190,651,168 $5,392,093,446
1985 $137,728,205 $3,818,944,918
1984 $132,019,039 $3,485,165,432
1983 $138,476,176 $3,569,356,125
1982 $140,630,679 $4,013,951,443
1981 $139,468,209 $4,095,892,781
1980 $142,246,815 $4,510,108,291
1979 - $4,084,877,823
1978 - $3,280,354,921
1977 - $2,938,046,463
1976 - $2,869,777,884
1975 - $2,830,388,405
1974 - $2,099,325,229
1973 - $1,863,398,590
1972 - $1,620,857,104
1971 - $1,339,549,033
1970 - $1,297,407,655
1969 - $1,245,234,931
1968 - $1,309,384,862
1967 - $1,246,480,766
1966 - $1,246,908,186
1965 - $1,210,058,228
1964 - $1,188,930,645
1963 - $1,122,139,862
1962 - $1,085,475,791
1961 - $1,058,975,257
1960 - $1,003,692,370

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

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

GDP per capita in Cape Verde vs Senegal by year

Cape Verde
GDP per capita

GDP per capita, PPP
Senegal
GDP per capita

GDP per capita, PPP
1x
Year Current $
Cape Verde Senegal
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $5,796 - $1,955 -
2024 $5,170 $11,195 $1,739 $5,071
2023 $4,795 $10,242 $1,698 $4,778
2022 $4,323 $9,481 $1,574 $4,530
2021 $3,971 $7,685 $1,598 $4,174
2020 $3,539 $6,853 $1,461 $3,753
2019 $4,381 $8,646 $1,431 $3,648
2018 $4,295 $7,916 $1,453 $3,380
2017 $3,893 $7,936 $1,355 $3,234
2016 $3,609 $7,351 $1,266 $3,101
2015 $3,415 $6,773 $1,218 $2,994
2014 $3,986 $6,417 $1,399 $2,854
2013 $3,961 $6,367 $1,380 $2,769
2012 $3,737 $6,318 $1,327 $2,764
2011 $4,002 $6,384 $1,375 $2,685
2010 $3,579 $6,039 $1,276 $2,663
2009 $3,660 $5,901 $1,309 $2,606
2008 $3,909 $6,011 $1,399 $2,581
2007 $3,325 $5,567 $1,189 $2,499
2006 $2,257 $4,758 $1,017 $2,422
2005 $2,004 $4,324 $980 $2,350
2004 $1,929 $3,969 $918 $2,236
2003 $1,718 $3,551 $818 $2,131
2002 $1,329 $3,388 $669 $2,027
2001 $1,223 $3,217 $637 $2,044
2000 $1,190 $3,124 $603 $1,963
1999 $1,327 $2,714 $678 $1,893
1998 $1,187 $2,443 $685 $1,798
1997 $1,134 $2,182 $651 $1,719
1996 $1,180 $1,963 $723 $1,679
1995 $1,165 $1,762 $715 $1,656
1994 $991 $1,540 $584 $1,578
1993 $1,220 $1,291 $878 $1,588
1992 $908 $1,186 $951 $1,573
1991 $832 $1,069 $913 $1,561
1990 $817 $1,044 $957 $1,513
1989 $727 - $849 -
1988 $729 - $880 -
1987 $658 - $916 -
1986 $541 - $784 -
1985 $396 - $571 -
1984 $385 - $536 -
1983 $410 - $564 -
1982 $423 - $652 -
1981 $425 - $683 -
1980 $440 - $772 -
1979 - - $716 -
1978 - - $589 -
1977 - - $540 -
1976 - - $541 -
1975 - - $547 -
1974 - - $417 -
1973 - - $381 -
1972 - - $342 -
1971 - - $291.1 -
1970 - - $290.5 -
1969 - - $287.3 -
1968 - - $311 -
1967 - - $305 -
1966 - - $315 -
1965 - - $314 -
1964 - - $318 -
1963 - - $309 -
1962 - - $307 -
1961 - - $308 -
1960 - - $300 -

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

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

Cape Verde's GDP per capita is $5,796, ranking 116/197, compared to $1,955 in Senegal, ranking 160/197. Adjusted for purchasing power (GDP per capita PPP), Cape Verde ranks 129th at $11,195, while Senegal ranks 158th at $5,071.

Economic indicators

Cape Verde Senegal
Gross domestic product
$3.06B
2025
$37B
2025
GDP rank
172/197
2025
107/197
2025
GDP growth
6.3%
2024-2025
6.68%
2024-2025
GDP per capita
$5,796
2025
$1,955
2025
GDP per capita rank
116/197
2025
160/197
2025
GDP per capita, PPP
$11,195
2024
$5,071
2024
GDP per capita PPP rank
129/197
2024
158/197
2024
Government debt
$3.09B
2025
$48.2B
2025
Debt-to-GDP ratio
101%
2025
130.2%
2025
Government debt per person
$5,854
2025
$2,544
2025
Government debt per person rank
77/185
2025
112/185
2025
Average annual personal income after taxes
$2,506
2026
$1,979
2026
Income share by richest 10%
32.3%
2015
28.8%
2021
Income share by poorest 10%
2.2%
2015
3%
2021
Government expenditure, % of GDP
27%
2025
29.2%
2025
Consumer prices inflation
2.3%
2024-2025
1.46%
2024-2025
Central bank interest rate
1.5%
2024
n/a
Unemployment rate
11.3%
2019
5.78%
2024
Population
530853
19596169

Spending and national debt comparison by year

Cape Verde
Spending

Debt
Senegal
Spending

Debt
1x
Year % of GDP
Cape Verde Senegal
Government spending Government debt Government spending Government debt
2025 27% 101% 29.2% 130.2%
2024 26.1% 112.8% 33.5% 132.4%
2023 25.7% 117.5% 35.5% 118.4%
2022 26.6% 127.6% 36.1% 104.7%
2021 30.8% 149.5% 33.7% 98.7%
2020 34.5% 149.1% 29.6% 90.1%
2019 27.5% 109.8% 34.3% 81.5%
2018 27.5% 112.3% 22.6% 61.5%
2017 28% 113% 22.5% 61.1%
2016 26.6% 115.6% 24% 47.5%
2015 28.7% 115.7% 22.9% 44.5%
2014 27.8% 105.7% 23.1% 42.4%
2013 30.9% 93.5% 22.1% 36.9%
2012 31.6% 82.9% 23% 34.5%
2011 30.3% 71.6% 23.3% 32.9%
2010 35.7% 66.2% 21.7% 34.6%
2009 30.6% 58.8% 21.1% 29.9%
2008 27.6% 57.5% 20.9% 19.1%
2007 27.1% 59.6% 22.2% 19%
2006 28.4% 66.2% 21.3% 17.5%
2005 26.2% 66.7% 18.7% 36.1%
2004 26.3% 67.8% 18.1% 38%
2003 23.4% 65.6% 17.1% 42.9%
2002 28.5% 64.7% 15.5% 52%
2001 24.2% 62.2% 15.7% 53.2%
2000 36.7% 71.9% 14% 57.5%
1999 35% 66.4% 14.6% 15%
1998 29.8% 72.9% 13.5% 18.8%
1997 34.8% 79.3% 14.1% 67.8%
1996 38.9% 85.7% 15.4% 0.07%
1995 44.5% 74.3% 14.4% 65.3%
1994 48.1% 73.4% 15.9% 77.3%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1994–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1994–1996, retrieved 2026-07-08).

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

In 2025, Cape Verde's government spending was $827M, accounting for 27% of its GDP, while Senegal spent $10.8B, or 29.2% of GDP.

Debt-to-GDP ratio is 101% in Cape Verde and 130.2% in Senegal, ranking 23/185 and 10/185, respectively.

Government deficit by year

Deficit/surplus
Cape Verde

Senegal
1x
Year Deficit/surplus, % of GDP
Cape Verde Senegal
2025 1.06% -7.9%
2024 -1.07% -13.4%
2023 -0.28% -14.8%
2022 -4.25% -16.1%
2021 -7.51% -13.7%
2020 -9.29% -9.62%
2019 -1.62% -13.9%
2018 -2.36% -3.66%
2017 -2.63% -2.97%
2016 -2.73% -3.27%
2015 -4.16% -3.66%
2014 -6.93% -3.9%
2013 -8.49% -4.34%
2012 -9.36% -4.18%
2011 -6.98% -4.92%
2010 -9.6% -3.94%
2009 -5.32% -3.66%
2008 -1.42% -3.53%
2007 -0.86% -2.8%
2006 -4.32% -3.67%
2005 -4.69% -0.26%
2004 -2.98% 0.18%
2003 -3.63% -0.52%
2002 -6.14% 0.19%
2001 -5.03% -1.44%
2000 -15.5% 0.78%
1999 -10.9% -0.62%
1998 -3.16% 0.93%
1997 -10.2% 0.98%
1996 -11.2% 0.92%
1995 -11.1% 2.41%
1994 -12.8% 5.9%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1994–2025, retrieved 2026-07-08).

GeoRank.org/economy/cape-verde/senegal | 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 Senegal's deficit of $2.92B, or 7.9% of GDP.

Over the past 32 years, Cape Verde recorded a fiscal deficit in 31 of those years, while Senegal ran a deficit in 24 years. On average, Cape Verde posted an annual deficit equal to 5.8% of GDP, compared to deficit of 4.01% of GDP for Senegal.

Inflation comparison by year

Inflation
Cape Verde

Senegal
1x
Year Consumer prices inflation
Cape Verde Senegal
2025 2.3% 1.46%
2024 1.1% 0.8%
2023 3.7% 5.94%
2022 7.9% 9.7%
2021 1.9% 2.18%
2020 0.6% 2.54%
2019 1.1% 1.76%
2018 1.3% 0.46%
2017 0.8% 1.32%
2016 -1.4% 0.84%
2015 0.1% 0.14%
2014 -0.2% -1.09%
2013 1.5% 0.71%
2012 2.5% 1.42%
2011 4.5% 3.4%
2010 2.1% 1.23%
2009 1% -2.25%
2008 6.8% 7.35%
2007 4.4% 5.85%
2006 4.8% 2.11%
2005 0.4% 1.71%
2004 -1.9% 0.51%
2003 1.2% -0.05%
2002 1.9% 2.34%
2001 3.7% 2.97%
2000 -2.4% 0.73%
1999 4.3% 0.83%
1998 4.4% 1.16%
1997 8.6% 1.75%

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

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

Over the past 29 years, Cape Verde has recorded an average annual inflation rate of 2.31%, compared with 1.99% in Senegal. In 2025, inflation was 2.3% in Cape Verde and 1.46% in Senegal.

Top exports between countries

Cape Verde
Export category Export value
Senegal
Export category Export value
Animal & marine products $3.9M
Processed food, beverages & tobacco $2.94M
Textiles & consumer goods $1.33M
Raw materials & minerals $356K
Metals $251K
Machinery & equipment $234K
Chemicals & pharma $184K
Raw agricultural goods $125K
Precious metals & jewellery $98K
Wood & paper products $84K

Balance of trade

Cape Verde Senegal
Current account balance
$108M
2025
-$6.07B
2023
Current account balance ranking
63/190
2025
168/190
2023
Current account balance, % of GDP
+3.53%
2025
-19.8%
2023
Goods imports
$1.29B
2025
$10.8B
2023
Goods exports
$344M
2025
$5.52B
2023
Service imports
$350M
2025
$4.08B
2023
Service exports
$940M
2025
$1.48B
2023
Imports of goods and services, % of GDP
53.4%
2025
38.6%
2025
Exports of goods and services, % of GDP
42%
2025
32.5%
2025

Economic freedom indices

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

Cape Verde Senegal
Economic freedom 71.4 53.2
Economic freedom ranking 32/197 140/197
Property rights 72.7 57.4
Government integrity 63.3 47.3
Judicial effectiveness 77.1 50.5
Tax burden 84.4 68.8
Government spending 79.5 63.1
Fiscal health 74.4 0
Business freedom 78.9 55.2
Labor freedom 59.5 54.4
Monetary freedom 80.4 74.3
Trade freedom 66.6 67
Investment freedom 60 60
Financial freedom 60 40

Economic freedom comparison by year

Cape Verde
Senegal
1x
Year Economic freedom index
Cape Verde Senegal
2026 71.4 53.2
2025 68.7 56.4
2024 62.9 55.4
2023 65.8 57.7
2022 66.7 60
2021 63.8 58
2020 63.6 58
2019 63.1 56.3
2018 60 55.7
2017 56.9 55.9
2016 66.5 58.1
2015 66.4 57.8
2014 66.1 55.4
2013 63.7 55.5
2012 63.5 55.4
2011 64.6 55.7
2010 61.8 54.6
2009 61.3 56.3
2008 57.9 58.3
2007 56.5 58.1
2006 58.6 56.2
2005 57.8 57.9
2004 58.1 58.9
2003 56.1 58.1
2002 57.6 58.6
2001 56.3 58.7
2000 51.9 58.9
1999 50.7 60.6
1998 48 59.7
1997 47.7 58.1
1996 49.7 58.2

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

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

The Economic Freedom Index for Cape Verde is 71.4, ranking 32/197, compared to 53.2 for Senegal, ranking 140/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Cape Verde Senegal
Services, % of GDP
67.9%
2025
46.3%
2025
Industry, % of GDP
10.7%
2025
26.1%
2025
Agriculture, forestry, and fishing, % of GDP
5.04%
2025
17.1%
2025
GNI, Atlas method
$2.95B
2025
$33.6B
2025
GNI per capita, PPP
$12,010
2025
$5,100
2025
Total reserves including gold
$1.26B
2025
n/a
Total reserves ranking
138/177
2025
n/a
Net foreign direct investment
-$130M
2025
-$4.72B
2023
Net inflows of foreign direct investment
$110M
2024
$2.02B
2024
Net outflows of foreign direct investment
$20.8M
2024
$48.1M
2024
Servicing debt to the IMF, % of GNI
5.72%
2024
11.3%
2024
Poverty at national poverty lines
24.8%
2023
37.5%
2021
Gross capital formation, % of GDP
17.4%
2025
26.9%
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/senegal | 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 (1994–2025, 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. TradeMap (2024, retrieved 2026-07-08)
  6. International Monetary Fund (IMF) | Public Finances in Modern History (1994–1996, retrieved 2026-07-08)
  7. United Nations | World Population Prospects (2026, retrieved 2026-07-08)
  8. 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.