Cabo Verde - GDP (current US$)

The latest value for GDP (current US$) in Cabo Verde was $1,976,814,000 as of 2018. Over the past 38 years, the value for this indicator has fluctuated between $1,976,814,000 in 2018 and $132,019,100 in 1984.

Definition: GDP at purchaser's prices is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. Data are in current U.S. dollars. Dollar figures for GDP are converted from domestic currencies using single year official exchange rates. For a few countries where the official exchange rate does not reflect the rate effectively applied to actual foreign exchange transactions, an alternative conversion factor is used.

Source: World Bank national accounts data, and OECD National Accounts data files.

See also:

Year Value
1980 $142,246,900
1981 $139,468,100
1982 $140,630,800
1983 $138,476,200
1984 $132,019,100
1985 $137,728,200
1986 $190,651,200
1987 $235,253,200
1988 $264,308,100
1989 $267,448,500
1990 $306,891,100
1991 $319,827,100
1992 $357,161,000
1993 $490,417,400
1994 $406,580,600
1995 $487,149,000
1996 $501,979,100
1997 $490,608,700
1998 $521,910,600
1999 $592,416,700
2000 $539,227,300
2001 $563,024,400
2002 $620,974,700
2003 $813,963,800
2004 $924,318,500
2005 $971,977,100
2006 $1,107,891,000
2007 $1,513,934,000
2008 $1,789,334,000
2009 $1,711,817,000
2010 $1,664,311,000
2011 $1,865,916,000
2012 $1,741,810,000
2013 $1,850,470,000
2014 $1,859,898,000
2015 $1,596,800,000
2016 $1,663,009,000
2017 $1,769,787,000
2018 $1,976,814,000

Limitations and Exceptions: Gross domestic product (GDP), though widely tracked, may not always be the most relevant summary of aggregated economic performance for all economies, especially when production occurs at the expense of consuming capital stock. While GDP estimates based on the production approach are generally more reliable than estimates compiled from the income or expenditure side, different countries use different definitions, methods, and reporting standards. World Bank staff review the quality of national accounts data and sometimes make adjustments to improve consistency with international guidelines. Nevertheless, significant discrepancies remain between international standards and actual practice. Many statistical offices, especially those in developing countries, face severe limitations in the resources, time, training, and budgets required to produce reliable and comprehensive series of national accounts statistics. Among the difficulties faced by compilers of national accounts is the extent of unreported economic activity in the informal or secondary economy. In developing countries a large share of agricultural output is either not exchanged (because it is consumed within the household) or not exchanged for money.

Statistical Concept and Methodology: Gross domestic product (GDP) represents the sum of value added by all its producers. Value added is the value of the gross output of producers less the value of intermediate goods and services consumed in production, before accounting for consumption of fixed capital in production. The United Nations System of National Accounts calls for value added to be valued at either basic prices (excluding net taxes on products) or producer prices (including net taxes on products paid by producers but excluding sales or value added taxes). Both valuations exclude transport charges that are invoiced separately by producers. Total GDP is measured at purchaser prices. Value added by industry is normally measured at basic prices.

Aggregation method: Gap-filled total

Periodicity: Annual


Topic: Economic Policy & Debt Indicators

Sub-Topic: National accounts