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Economy of Cape Verde vs Seychelles compared: GDP & Debt

Updated on by Georank

Cape Verde has a GDP of $3.06B compared to $2.39B for the Seychelles, ranking 172/197 and 177/197 by economy size, respectively.

Cape Verde has $3.09B in government debt (101% of GDP), compared to $1.23B (51.5% of GDP) in the Seychelles.

Cape Verde vs Seychelles GDP by year

Cape Verde
Seychelles
1x
Year GDP, current $
Cape Verde Seychelles
2025 $3,056,630,435 $2,387,022,853
2024 $2,713,721,857 $2,228,608,684
2023 $2,504,525,538 $2,171,547,935
2022 $2,247,003,344 $1,999,888,599
2021 $2,051,842,619 $1,487,173,795
2020 $1,821,565,614 $1,382,551,752
2019 $2,252,177,124 $1,868,690,097
2018 $2,205,099,507 $1,784,313,927
2017 $1,996,741,540 $1,675,370,641
2016 $1,849,789,986 $1,568,513,348
2015 $1,749,857,620 $1,432,403,352
2014 $2,041,930,125 $1,387,577,870
2013 $2,028,910,915 $1,333,160,407
2012 $1,913,081,210 $1,089,407,839
2011 $2,046,817,987 $1,058,918,707
2010 $1,824,751,468 $981,616,542
2009 $1,852,334,575 $850,901,620
2008 $1,959,620,648 $979,597,394
2007 $1,649,621,739 $1,077,308,814
2006 $1,107,571,458 $1,081,441,283
2005 $972,241,677 $977,899,382
2004 $924,940,012 $893,012,218
2003 $813,260,469 $750,847,230
2002 $620,507,387 $742,134,838
2001 $563,090,490 $662,064,156
2000 $539,227,278 $654,212,394
1999 $592,416,703 $662,838,615
1998 $521,910,561 $647,287,376
1997 $490,608,658 $598,966,982
1996 $501,979,270 $535,250,347
1995 $487,148,994 $540,733,048
1994 $406,580,652 $517,570,058
1993 $490,417,390 $504,230,621
1992 $357,160,985 $461,409,399
1991 $319,827,059 $398,307,170
1990 $306,890,963 $392,163,561
1989 $267,448,571 $324,333,367
1988 $264,308,140 $301,985,618
1987 $235,253,065 $265,212,957
1986 $190,651,168 $221,147,061
1985 $137,728,205 $179,691,483
1984 $132,019,039 $160,992,921
1983 $138,476,176 $156,098,237
1982 $140,630,679 $157,211,790
1981 $139,468,209 $163,750,728
1980 $142,246,815 $156,783,830
1979 - $127,261,099
1978 - $85,552,366
1977 - $64,526,401
1976 - $49,278,982
1975 - $47,803,146
1974 - $43,134,496
1973 - $36,896,280
1972 - $30,645,123
1971 - $21,965,951
1970 - $18,432,032
1969 - $16,452,028
1968 - $16,074,028
1967 - $16,632,032
1966 - $16,443,034
1965 - $15,603,032
1964 - $15,393,032
1963 - $13,923,029
1962 - $12,642,026
1961 - $11,592,024
1960 - $12,012,025

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

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

GDP per capita in Cape Verde vs Seychelles by year

Cape Verde
GDP per capita

GDP per capita, PPP
Seychelles
GDP per capita

GDP per capita, PPP
1x
Year Current $
Cape Verde Seychelles
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $5,796 - $19,449 -
2024 $5,170 $11,195 $18,365 $33,239
2023 $4,795 $10,242 $18,131 $31,781
2022 $4,323 $9,481 $16,683 $29,973
2021 $3,971 $7,685 $14,983 $29,980
2020 $3,539 $6,853 $14,041 $31,056
2019 $4,381 $8,646 $19,142 $34,219
2018 $4,295 $7,916 $18,440 $32,091
2017 $3,893 $7,936 $17,480 $30,675
2016 $3,609 $7,351 $16,567 $28,811
2015 $3,415 $6,773 $15,333 $25,435
2014 $3,986 $6,417 $15,188 $24,985
2013 $3,961 $6,367 $14,821 $22,487
2012 $3,737 $6,318 $12,337 $22,264
2011 $4,002 $6,384 $12,110 $21,781
2010 $3,579 $6,039 $10,935 $18,982
2009 $3,660 $5,901 $9,747 $18,453
2008 $3,909 $6,011 $11,265 $18,881
2007 $3,325 $5,567 $12,669 $19,473
2006 $2,257 $4,758 $12,783 $17,503
2005 $2,004 $4,324 $11,802 $15,846
2004 $1,929 $3,969 $10,828 $14,160
2003 $1,718 $3,551 $9,070 $14,142
2002 $1,329 $3,388 $8,864 $14,570
2001 $1,223 $3,217 $8,153 $14,615
2000 $1,190 $3,124 $8,064 $14,638
1999 $1,327 $2,714 $8,243 $13,853
1998 $1,187 $2,443 $8,210 $13,675
1997 $1,134 $2,182 $7,747 $13,458
1996 $1,180 $1,963 $7,004 $11,931
1995 $1,165 $1,762 $7,181 $10,809
1994 $991 $1,540 $6,975 $10,692
1993 $1,220 $1,291 $6,979 $11,020
1992 $908 $1,186 $6,520 $10,243
1991 $832 $1,069 $5,655 $9,387
1990 $817 $1,044 $5,642 $8,955
1989 $727 - $4,689 -
1988 $729 - $4,392 -
1987 $658 - $3,872 -
1986 $541 - $3,368 -
1985 $396 - $2,754 -
1984 $385 - $2,488 -
1983 $410 - $2,426 -
1982 $423 - $2,441 -
1981 $425 - $2,557 -
1980 $440 - $2,478 -
1979 - - $2,030 -
1978 - - $1,377 -
1977 - - $1,044 -
1976 - - $814 -
1975 - - $806 -
1974 - - $745 -
1973 - - $649 -
1972 - - $547 -
1971 - - $402 -
1970 - - $344 -
1969 - - $314 -
1968 - - $314 -
1967 - - $333 -
1966 - - $338 -
1965 - - $328 -
1964 - - $332 -
1963 - - $308 -
1962 - - $287 -
1961 - - $270.3 -
1960 - - $288.1 -

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

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

Cape Verde's GDP per capita is $5,796, ranking 116/197, compared to $19,449 in the Seychelles, ranking 64/197. Adjusted for purchasing power (GDP per capita PPP), Cape Verde ranks 129th at $11,195, while the Seychelles ranks 67th at $33,239.

Economic indicators

Cape Verde Seychelles
Gross domestic product
$3.06B
2025
$2.39B
2025
GDP rank
172/197
2025
177/197
2025
GDP growth
6.3%
2024-2025
5.8%
2024-2025
GDP per capita
$5,796
2025
$19,449
2025
GDP per capita rank
116/197
2025
64/197
2025
GDP per capita, PPP
$11,195
2024
$33,239
2024
GDP per capita PPP rank
129/197
2024
67/197
2024
Government debt
$3.09B
2025
$1.23B
2025
Debt-to-GDP ratio
101%
2025
51.5%
2025
Government debt per person
$5,854
2025
$10,019
2025
Government debt per person rank
77/185
2025
59/185
2025
Average annual personal income after taxes
$2,506
2026
$11,537
2026
Market capitalization of domestic companies n/a
$646M
2025
Income share by richest 10%
32.3%
2015
23.9%
2018
Income share by poorest 10%
2.2%
2015
2.6%
2018
Government expenditure, % of GDP
27%
2025
32.7%
2025
Consumer prices inflation
2.3%
2024-2025
0.3%
2024-2025
Central bank interest rate
1.5%
2024
1.75%
2024
Unemployment rate
11.3%
2019
2.59%
2024
Population
530853
125859

Spending and national debt comparison by year

Cape Verde
Spending

Debt
Seychelles
Spending

Debt
1x
Year % of GDP
Cape Verde Seychelles
Government spending Government debt Government spending Government debt
2025 27% 101% 32.7% 51.5%
2024 26.1% 112.8% 33% 56.1%
2023 25.7% 117.5% 33.1% 55.1%
2022 26.6% 127.6% 31.6% 60.6%
2021 30.8% 149.5% 38.8% 71%
2020 34.5% 149.1% 46.7% 77.4%
2019 27.5% 109.8% 31.7% 48.9%
2018 27.5% 112.3% 33% 51.3%
2017 28% 113% 34.3% 56.7%
2016 26.6% 115.6% 34.5% 64.3%
2015 28.7% 115.7% 31.5% 75.4%
2014 27.8% 105.7% 33.4% 70.4%
2013 30.9% 93.5% 37.8% 68.2%
2012 31.6% 82.9% 38.6% 80.1%
2011 30.3% 71.6% 36.4% 82.5%
2010 35.7% 66.2% 34.6% 82.2%
2009 30.6% 58.8% 32.1% 106.1%
2008 27.6% 57.5% 27% 192.1%
2007 27.1% 59.6% 41.9% 144%
2006 28.4% 66.2% 43.6% 135.1%
2005 26.2% 66.7% 39% 144.1%
2004 26.3% 67.8% 39.9% 163.2%
2003 23.4% 65.6% 44.6% 177%
2002 28.5% 64.7% 56.3% 195.9%
2001 24.2% 62.2% 46.8% 199.8%
2000 36.7% 71.9% 55.4% 177.8%
1999 35% 66.4% 56.1% 159.8%
1998 29.8% 72.9% 60.7% 161.2%
1997 34.8% 79.3% 54.7% 143%
1996 38.9% 85.7% 59.1% 146.7%
1995 44.5% 74.3% 53.1% 133.5%
1994 48.1% 73.4% 63.6% 123.5%
1993 - - 60.4% 82.2%
1992 - - 50.7% 79.9%
1991 - - 52.1% 89.2%
1990 - - 46.1% 80.4%
1989 - - 51.7% 39.9%
1988 - - 46.7% 41.3%
1987 - - 49.7% 37%
1986 - - 58% 31.5%
1985 - - 53% 26.5%
1984 - - 50.5% 15.3%
1983 - - 47.9% 12.4%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1983–1996, retrieved 2026-07-08).

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

In 2025, Cape Verde's government spending was $827M, accounting for 27% of its GDP, while the Seychelles spent $781M, or 32.7% of GDP.

Debt-to-GDP ratio is 101% in Cape Verde and 51.5% in the Seychelles, ranking 23/185 and 102/185, respectively.

Government deficit by year

Deficit/surplus
Cape Verde

Seychelles
1x
Year Deficit/surplus, % of GDP
Cape Verde Seychelles
2025 1.06% -0.99%
2024 -1.07% -0.68%
2023 -0.28% -1.15%
2022 -4.25% -0.77%
2021 -7.51% -5.76%
2020 -9.29% -15.7%
2019 -1.62% 0.42%
2018 -2.36% -0.8%
2017 -2.63% -1.67%
2016 -2.73% 0.02%
2015 -4.16% 1.39%
2014 -6.93% 2.87%
2013 -8.49% 0.33%
2012 -9.36% 2.93%
2011 -6.98% 3.36%
2010 -9.6% 0.52%
2009 -5.32% 4.84%
2008 -1.42% 7.88%
2007 -0.86% -9.93%
2006 -4.32% -2.54%
2005 -4.69% 0.42%
2004 -2.98% 0.44%
2003 -3.63% 3.4%
2002 -6.14% -16.3%
2001 -5.03% -8.93%
2000 -15.5% -14.7%
1999 -10.9% -10.3%
1998 -3.16% -16.7%
1997 -10.2% -5.91%
1996 -11.2% -9.69%
1995 -11.1% -2.58%
1994 -12.8% -6.95%
1993 - -3.62%
1992 - 6.44%
1991 - 3.15%
1990 - 11.9%
1989 - 8.26%
1988 - 11.8%
1987 - 2.77%
1986 - -10.1%
1985 - -4.86%
1984 - -6.09%
1983 - -3.13%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1983–1989, retrieved 2026-07-08).

GeoRank.org/economy/cape-verde/seychelles | 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 the Seychelles' deficit of $23.5M, or 0.99% of GDP.

Over the past 32 years, Cape Verde recorded a fiscal deficit in 31 of those years, while the Seychelles ran a deficit in 19 years. On average, Cape Verde posted an annual deficit equal to 5.8% of GDP, compared to deficit of 3.22% of GDP for the Seychelles.

Inflation comparison by year

Inflation
Cape Verde

Seychelles
1x
Year Consumer prices inflation
Cape Verde Seychelles
2025 2.3% 0.3%
2024 1.1% 0.31%
2023 3.7% -1.04%
2022 7.9% 2.63%
2021 1.9% 9.77%
2020 0.6% 1.2%
2019 1.1% 1.81%
2018 1.3% 3.7%
2017 0.8% 2.86%
2016 -1.4% -1.02%
2015 0.1% 4.04%
2014 -0.2% 1.39%
2013 1.5% 4.34%
2012 2.5% 7.11%
2011 4.5% 2.56%
2010 2.1% -2.4%
2009 1% 31.8%
2008 6.8% 37%
2007 4.4% 5.32%
2006 4.8% -0.35%
2005 0.4% 0.91%
2004 -1.9% 3.86%
2003 1.2% 3.3%
2002 1.9% 0.18%
2001 3.7% 5.97%
2000 -2.4% 6.27%
1999 4.3% 6.35%
1998 4.4% 2.58%
1997 8.6% 0.62%

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/seychelles | CC BY

Over the past 29 years, Cape Verde has recorded an average annual inflation rate of 2.31%, compared with 4.87% in the Seychelles. In 2025, inflation was 2.3% in Cape Verde and 0.3% in the Seychelles.

Top exports between countries

Cape Verde
Export category Export value
Seychelles
Export category Export value
Animal & marine products $232K

Balance of trade

Cape Verde Seychelles
Current account balance
$108M
2025
-$166M
2024
Current account balance ranking
63/190
2025
90/190
2024
Current account balance, % of GDP
+3.53%
2025
-7.46%
2024
Goods imports
$1.29B
2025
$1.38B
2024
Goods exports
$344M
2025
$595M
2024
Service imports
$350M
2025
$1B
2024
Service exports
$940M
2025
$1.71B
2024
Imports of goods and services, % of GDP
53.4%
2025
92.7%
2025
Exports of goods and services, % of GDP
42%
2025
79.6%
2025

Economic freedom indices

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

Cape Verde Seychelles
Economic freedom 71.4 66.5
Economic freedom ranking 32/197 60/197
Property rights 72.7 82.6
Government integrity 63.3 71.7
Judicial effectiveness 77.1 61.7
Tax burden 84.4 77.3
Government spending 79.5 68
Fiscal health 74.4 92.2
Business freedom 78.9 71.3
Labor freedom 59.5 52
Monetary freedom 80.4 79.8
Trade freedom 66.6 81.2
Investment freedom 60 30
Financial freedom 60 30

Economic freedom comparison by year

Cape Verde
Seychelles
1x
Year Economic freedom index
Cape Verde Seychelles
2026 71.4 66.5
2025 68.7 66.4
2024 62.9 60.4
2023 65.8 59.5
2022 66.7 61.1
2021 63.8 66.3
2020 63.6 64.3
2019 63.1 61.4
2018 60 61.6
2017 56.9 61.8
2016 66.5 62.2
2015 66.4 57.5
2014 66.1 56.2
2013 63.7 54.9
2012 63.5 53
2011 64.6 51.2
2010 61.8 47.9
2009 61.3 47.8
2008 57.9 -
2007 56.5 -
2006 58.6 -
2005 57.8 -
2004 58.1 -
2003 56.1 -
2002 57.6 -
2001 56.3 -
2000 51.9 -
1999 50.7 -
1998 48 -
1997 47.7 -
1996 49.7 -

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

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

The Economic Freedom Index for Cape Verde is 71.4, ranking 32/197, compared to 66.5 for the Seychelles, ranking 60/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Cape Verde Seychelles
Services, % of GDP
67.9%
2025
67.9%
2025
Industry, % of GDP
10.7%
2025
14.3%
2025
Agriculture, forestry, and fishing, % of GDP
5.04%
2025
2.61%
2025
GNI, Atlas method
$2.95B
2025
$2.36B
2025
GNI per capita, PPP
$12,010
2025
$34,930
2025
Total reserves including gold
$1.26B
2025
$774M
2024
Total reserves ranking
138/177
2025
146/177
2024
Net foreign direct investment
-$130M
2025
-$268M
2024
Net inflows of foreign direct investment
$110M
2024
$226M
2024
Net outflows of foreign direct investment
$20.8M
2024
-$41.4M
2024
Servicing debt to the IMF, % of GNI
5.72%
2024
n/a
Poverty at national poverty lines
24.8%
2023
25.3%
2018
Gross capital formation, % of GDP
17.4%
2025
18.7%
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/seychelles | 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 (1983–1996, retrieved 2026-07-08)
  6. United Nations | World Population Prospects (2026, retrieved 2026-07-08)
  7. LivingCost (2026, retrieved 2026-07-08)
  8. TradeMap (2025, 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.