Economy of Cape Verde Economy of Cape Verde Cape Verde is a small archipelagic nation that lacks resources and has experienced severe droughts. Agriculture is made difficult by lack of rain and is restricted to only four islands for most of the year. Most of the nation's GDP comes from the service industry. Cape Verde's economy has been steadily growing since the late 1990s, and it is now officially considered a country of average development, being only the second African country to have achieved such transition, after Botswana in 1994. Cape Verde has significant cooperation with Portugal at every level of the economy, which
Santiago, Cape Verde Praia, located in the southeast coast, is the largest city on the island, and also the largest city and capital of the country. Other towns on the island include Cidade Velha, west of Praia, Cape Verde's first capital; Assomada, in the centre of the island; Tarrafal in the north; Pedra Badejo and Calheta de São Miguel along the east coast. In the 1830s, Santiago's population was estimated at 30,000. Santiago has always been the most populous island in Cape Verde. The island population has doubled since the independence of Cape Verde in 1975. The population of the island was 294,135