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Economy of Cape Verde vs Sri Lanka compared: GDP & Debt

Updated on by Georank

Cape Verde has a GDP of $3.06B compared to $109B for Sri Lanka, ranking 172/197 and 71/197 by economy size, respectively.

Cape Verde has $3.09B in government debt (101% of GDP), compared to $100B (100.8% of GDP) in Sri Lanka.

Cape Verde vs Sri Lanka GDP by year

Cape Verde
Sri Lanka
1x
Year GDP, current $
Cape Verde Sri Lanka
2025 $3,056,630,435 $108,825,231,671
2024 $2,713,721,857 $99,616,111,266
2023 $2,504,525,538 $84,080,307,356
2022 $2,247,003,344 $74,143,020,304
2021 $2,051,842,619 $88,556,699,052
2020 $1,821,565,614 $84,335,574,372
2019 $2,252,177,124 $88,998,706,178
2018 $2,205,099,507 $94,450,015,983
2017 $1,996,741,540 $94,369,350,439
2016 $1,849,789,986 $88,000,210,878
2015 $1,749,857,620 $85,090,300,896
2014 $2,041,930,125 $82,531,125,462
2013 $2,028,910,915 $76,976,204,075
2012 $1,913,081,210 $70,447,216,891
2011 $2,046,817,987 $67,753,285,882
2010 $1,824,751,468 $58,636,049,581
2009 $1,852,334,575 $42,066,224,093
2008 $1,959,620,648 $40,713,826,215
2007 $1,649,621,739 $32,350,238,760
2006 $1,107,571,458 $28,267,410,543
2005 $972,241,677 $24,405,791,045
2004 $924,940,012 $20,662,525,941
2003 $813,260,469 $18,881,765,437
2002 $620,507,387 $16,536,535,647
2001 $563,090,490 $15,749,753,805
2000 $539,227,278 $16,595,882,819
1999 $592,416,703 $15,711,933,513
1998 $521,910,561 $15,760,736,956
1997 $490,608,658 $15,091,913,884
1996 $501,979,270 $13,897,738,375
1995 $487,148,994 $13,029,697,561
1994 $406,580,652 $11,717,604,209
1993 $490,417,390 $10,338,679,636
1992 $357,160,985 $9,703,011,636
1991 $319,827,059 $9,000,362,582
1990 $306,890,963 $8,032,551,173
1989 $267,448,571 $6,987,267,684
1988 $264,308,140 $6,978,371,581
1987 $235,253,065 $6,682,167,120
1986 $190,651,168 $6,405,210,564
1985 $137,728,205 $5,978,460,972
1984 $132,019,039 $6,043,474,843
1983 $138,476,176 $5,167,913,302
1982 $140,630,679 $4,768,765,017
1981 $139,468,209 $4,415,844,156
1980 $142,246,815 $4,024,621,900
1979 - $3,364,611,432
1978 - $2,733,183,857
1977 - $4,104,509,583
1976 - $3,591,319,857
1975 - $3,791,298,146
1974 - $3,574,586,466
1973 - $2,875,625,000
1972 - $2,553,936,348
1971 - $2,369,308,600
1970 - $2,296,470,588
1969 - $1,965,546,218
1968 - $1,801,344,538
1967 - $1,859,465,021
1966 - $1,751,470,588
1965 - $1,698,319,328
1964 - $1,309,747,899
1963 - $1,240,672,269
1962 - $1,434,156,379
1961 - $1,444,327,731
1960 - $1,409,873,950

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

GeoRank.org/economy/cape-verde/sri-lanka | CC BY

GDP per capita in Cape Verde vs Sri Lanka by year

Cape Verde
GDP per capita

GDP per capita, PPP
Sri Lanka
GDP per capita

GDP per capita, PPP
1x
Year Current $
Cape Verde Sri Lanka
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $5,796 - $5,002 -
2024 $5,170 $11,195 $4,545 $15,633
2023 $4,795 $10,242 $3,815 $14,456
2022 $4,323 $9,481 $3,343 $14,194
2021 $3,971 $7,685 $3,997 $14,316
2020 $3,539 $6,853 $3,848 $12,941
2019 $4,381 $8,646 $4,082 $14,113
2018 $4,295 $7,916 $4,359 $14,178
2017 $3,893 $7,936 $4,399 $13,610
2016 $3,609 $7,351 $4,149 $13,079
2015 $3,415 $6,773 $4,058 $12,227
2014 $3,986 $6,417 $3,972 $11,721
2013 $3,961 $6,367 $3,739 $11,253
2012 $3,737 $6,318 $3,328 $10,249
2011 $4,002 $6,384 $3,225 $9,076
2010 $3,579 $6,039 $2,808 $8,234
2009 $3,660 $5,901 $2,027 $7,576
2008 $3,909 $6,011 $1,974 $7,317
2007 $3,325 $5,567 $1,579 $6,820
2006 $2,257 $4,758 $1,389 $6,261
2005 $2,004 $4,324 $1,207 $5,679
2004 $1,929 $3,969 $1,029 $5,216
2003 $1,718 $3,551 $946 $4,850
2002 $1,329 $3,388 $835 $4,522
2001 $1,223 $3,217 $804 $4,328
2000 $1,190 $3,124 $860 $4,368
1999 $1,327 $2,714 $829 $4,103
1998 $1,187 $2,443 $848 $3,952
1997 $1,134 $2,182 $827 $3,804
1996 $1,180 $1,963 $776 $3,582
1995 $1,165 $1,762 $742 $3,454
1994 $991 $1,540 $678 $3,260
1993 $1,220 $1,291 $607 $3,067
1992 $908 $1,186 $580 $2,851
1991 $832 $1,069 $546 $2,713
1990 $817 $1,044 $491 $2,527
1989 $727 - $430 -
1988 $729 - $434 -
1987 $658 - $420 -
1986 $541 - $407 -
1985 $396 - $385 -
1984 $385 - $391 -
1983 $410 - $336 -
1982 $423 - $312 -
1981 $425 - $292.5 -
1980 $440 - $271.1 -
1979 - - $230.8 -
1978 - - $191 -
1977 - - $292.1 -
1976 - - $260.3 -
1975 - - $279.8 -
1974 - - $268.7 -
1973 - - $220.2 -
1972 - - $199.4 -
1971 - - $188.8 -
1970 - - $186.9 -
1969 - - $163.6 -
1968 - - $153.5 -
1967 - - $162.3 -
1966 - - $156.6 -
1965 - - $155.6 -
1964 - - $122.9 -
1963 - - $119.4 -
1962 - - $141.4 -
1961 - - $145.9 -
1960 - - $145.9 -

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

GeoRank.org/economy/cape-verde/sri-lanka | CC BY

Cape Verde's GDP per capita is $5,796, ranking 116/197, compared to $5,002 in Sri Lanka, ranking 124/197. Adjusted for purchasing power (GDP per capita PPP), Cape Verde ranks 129th at $11,195, while Sri Lanka ranks 111th at $15,633.

Economic indicators

Cape Verde Sri Lanka
Gross domestic product
$3.06B
2025
$109B
2025
GDP rank
172/197
2025
71/197
2025
GDP growth
6.3%
2024-2025
4.95%
2024-2025
GDP per capita
$5,796
2025
$5,002
2025
GDP per capita rank
116/197
2025
124/197
2025
GDP per capita, PPP
$11,195
2024
$15,633
2024
GDP per capita PPP rank
129/197
2024
111/197
2024
Government debt
$3.09B
2025
$100B
2024
Debt-to-GDP ratio
101%
2025
100.8%
2024
Government debt per person
$5,854
2025
$4,584
2024
Government debt per person rank
77/185
2025
90/185
2024
Average annual personal income after taxes
$2,506
2026
$2,830
2026
Market capitalization of domestic companies n/a
$26.1B
2025
Income share by richest 10%
32.3%
2015
30.8%
2019
Income share by poorest 10%
2.2%
2015
3.1%
2019
Government expenditure, % of GDP
27%
2025
19.1%
2024
Consumer prices inflation
2.3%
2024-2025
-4.76%
2024-2025
Central bank interest rate
1.5%
2024
7.75%
2025
Unemployment rate
11.3%
2019
4.32%
2024
Population
530853
21926160

Spending and national debt comparison by year

Cape Verde
Spending

Debt
Sri Lanka
Spending

Debt
1x
Year % of GDP
Cape Verde Sri Lanka
Government spending Government debt Government spending Government debt
2025 27% 101% - -
2024 26.1% 112.8% 19.1% 100.8%
2023 25.7% 117.5% 19.5% 110.4%
2022 26.6% 127.6% 18.6% 115.9%
2021 30.8% 149.5% 20% 102.7%
2020 34.5% 149.1% 22.1% 96.9%
2019 27.5% 109.8% 19.5% 82.6%
2018 27.5% 112.3% 17.5% 83.6%
2017 28% 113% 17.9% 72.3%
2016 26.6% 115.6% 18.2% 75%
2015 28.7% 115.7% 19.3% 76.3%
2014 27.8% 105.7% 17.2% 69.6%
2013 30.9% 93.5% 16.6% 69.5%
2012 31.6% 82.9% 17.3% 67.5%
2011 30.3% 71.6% 19.1% 69.4%
2010 35.7% 66.2% 19.3% 68.7%
2009 30.6% 58.8% 21% 72.8%
2008 27.6% 57.5% 19.1% 68.8%
2007 27.1% 59.6% 19.9% 71.8%
2006 28.4% 66.2% 20.5% 74.3%
2005 26.2% 66.7% 20.1% 76.6%
2004 26.3% 67.8% 19.3% 86.5%
2003 23.4% 65.6% 19.3% 86.5%
2002 28.5% 64.7% 20.8% 96.3%
2001 24.2% 62.2% 22.4% 84.4%
2000 36.7% 71.9% 21.7% 79.2%
1999 35% 66.4% 20.5% 77.7%
1998 29.8% 72.9% 21.4% 74.2%
1997 34.8% 79.3% 21.4% 70.1%
1996 38.9% 85.7% 23.1% 76.2%
1995 44.5% 74.3% 24.8% 77.8%
1994 48.1% 73.4% 24.1% 77.9%
1993 - - 23.2% 79.2%
1992 - - 23% 77.9%
1991 - - 26.4% 80.5%
1990 - - 25.4% 78.9%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1994–1996, retrieved 2026-07-08).

GeoRank.org/economy/cape-verde/sri-lanka | CC BY

In 2025, Cape Verde's government spending was $827M, accounting for 27% of its GDP, while Sri Lanka spent $19B, or 19.1% of GDP.

Debt-to-GDP ratio is 101% in Cape Verde and 100.8% in Sri Lanka, ranking 23/185 and 24/185, respectively.

Government deficit by year

Deficit/surplus
Cape Verde

Sri Lanka
1x
Year Deficit/surplus, % of GDP
Cape Verde Sri Lanka
2025 1.06% -
2024 -1.07% -5.43%
2023 -0.28% -8.32%
2022 -4.25% -10.2%
2021 -7.51% -11.7%
2020 -9.29% -13.4%
2019 -1.62% -7.52%
2018 -2.36% -4.96%
2017 -2.63% -5.1%
2016 -2.73% -5%
2015 -4.16% -6.64%
2014 -6.93% -5.99%
2013 -8.49% -5%
2012 -9.36% -5.44%
2011 -6.98% -6.01%
2010 -9.6% -6.73%
2009 -5.32% -8.33%
2008 -1.42% -5.93%
2007 -0.86% -5.81%
2006 -4.32% -5.91%
2005 -4.69% -5.93%
2004 -2.98% -6.32%
2003 -3.63% -6.15%
2002 -6.14% -6.9%
2001 -5.03% -8.48%
2000 -15.5% -7.78%
1999 -10.9% -5.58%
1998 -3.16% -6.79%
1997 -10.2% -5.71%
1996 -11.2% -6.89%
1995 -11.1% -7.11%
1994 -12.8% -7.41%
1993 - -5.77%
1992 - -4.95%
1991 - -7.97%
1990 - -6.39%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08).

GeoRank.org/economy/cape-verde/sri-lanka | CC BY

In 2024, Cape Verde's government deficit, the difference between spending and revenue, was $28.9M, equivalent to 1.07% of GDP. This compares to Sri Lanka's deficit of $5.4B, or 5.43% of GDP.

Over the past 31 years, Cape Verde recorded a fiscal deficit in 31 of those years, while Sri Lanka ran a deficit in 31 years. On average, Cape Verde posted an annual deficit equal to 6.02% of GDP, compared to deficit of 6.92% of GDP for Sri Lanka.

Inflation comparison by year

Inflation
Cape Verde

Sri Lanka
1x
Year Consumer prices inflation
Cape Verde Sri Lanka
2025 2.3% -4.76%
2024 1.1% -0.43%
2023 3.7% 16.5%
2022 7.9% 49.7%
2021 1.9% 7.01%
2020 0.6% 6.15%
2019 1.1% 3.53%
2018 1.3% 2.14%
2017 0.8% 7.7%
2016 -1.4% 3.96%
2015 0.1% 3.77%
2014 -0.2% 3.18%
2013 1.5% 6.91%
2012 2.5% 7.54%
2011 4.5% 6.72%
2010 2.1% 6.22%
2009 1% 3.46%
2008 6.8% 22.6%
2007 4.4% 15.8%
2006 4.8% 10%
2005 0.4% 11.6%
2004 -1.9% 7.58%
2003 1.2% 6.31%
2002 1.9% 9.55%
2001 3.7% 14.2%
2000 -2.4% 6.18%
1999 4.3% 4.69%
1998 4.4% 9.36%
1997 8.6% 9.57%

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/sri-lanka | CC BY

Over the past 29 years, Cape Verde has recorded an average annual inflation rate of 2.31%, compared with 8.86% in Sri Lanka. In 2025, inflation was 2.3% in Cape Verde and -4.76% in Sri Lanka.

Top exports between countries

Cape Verde
Export category Export value
Sri Lanka
Export category Export value
Processed food, beverages & tobacco $266K
Raw agricultural goods $55K
Machinery & equipment $45K
Precious metals & jewellery $1K

Balance of trade

Cape Verde Sri Lanka
Current account balance
$108M
2025
$1.21B
2024
Current account balance ranking
63/190
2025
49/190
2024
Current account balance, % of GDP
+3.53%
2025
+1.21%
2024
Goods imports
$1.29B
2025
$18.8B
2024
Goods exports
$344M
2025
$12.8B
2024
Service imports
$350M
2025
$3.48B
2024
Service exports
$940M
2025
$6.91B
2024
Imports of goods and services, % of GDP
53.4%
2025
22.8%
2025
Exports of goods and services, % of GDP
42%
2025
19%
2025

Economic freedom indices

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

Cape Verde Sri Lanka
Economic freedom 71.4 50.3
Economic freedom ranking 32/197 162/197
Property rights 72.7 47.3
Government integrity 63.3 37.3
Judicial effectiveness 77.1 47.2
Tax burden 84.4 77
Government spending 79.5 89
Fiscal health 74.4 0
Business freedom 78.9 60.1
Labor freedom 59.5 54.3
Monetary freedom 80.4 65.9
Trade freedom 66.6 65.6
Investment freedom 60 30
Financial freedom 60 30

Economic freedom comparison by year

Cape Verde
Sri Lanka
1x
Year Economic freedom index
Cape Verde Sri Lanka
2026 71.4 50.3
2025 68.7 49.4
2024 62.9 49.2
2023 65.8 52.2
2022 66.7 53.3
2021 63.8 55.7
2020 63.6 57.4
2019 63.1 56.4
2018 60 57.8
2017 56.9 57.4
2016 66.5 59.9
2015 66.4 58.6
2014 66.1 60
2013 63.7 60.7
2012 63.5 58.3
2011 64.6 57.1
2010 61.8 54.6
2009 61.3 56
2008 57.9 58.4
2007 56.5 59.4
2006 58.6 58.7
2005 57.8 61
2004 58.1 61.6
2003 56.1 62.5
2002 57.6 64
2001 56.3 66
2000 51.9 63.2
1999 50.7 64
1998 48 64.6
1997 47.7 65.5
1996 49.7 62.5
1995 - 60.6

Data sources: The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-07-08).

GeoRank.org/economy/cape-verde/sri-lanka | CC BY

The Economic Freedom Index for Cape Verde is 71.4, ranking 32/197, compared to 50.3 for Sri Lanka, ranking 162/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Cape Verde Sri Lanka
Services, % of GDP
67.9%
2025
54.6%
2025
Industry, % of GDP
10.7%
2025
25.4%
2025
Agriculture, forestry, and fishing, % of GDP
5.04%
2025
8.36%
2025
GNI, Atlas method
$2.95B
2025
$102B
2025
GNI per capita, PPP
$12,010
2025
$16,750
2025
Total reserves including gold
$1.26B
2025
$6.09B
2024
Total reserves ranking
138/177
2025
96/177
2024
Net foreign direct investment
-$130M
2025
-$651M
2024
Net inflows of foreign direct investment
$110M
2024
$761M
2024
Net outflows of foreign direct investment
$20.8M
2024
$110M
2024
Servicing debt to the IMF, % of GNI
5.72%
2024
4.96%
2024
Poverty at national poverty lines
24.8%
2023
14.3%
2019
Gross capital formation, % of GDP
17.4%
2025
29.6%
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/sri-lanka | 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 (1995–2026, retrieved 2026-07-08)
  4. U.S. Census Bureau (1985–2025, retrieved 2026-07-08)
  5. TradeMap (2023–2024, 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.