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
Flag of Cape Verde African colours of red, green and yellow, and was identical to the flag of Guinea-Bissau except for the proportions and the charge in the hoist-side stripe. Their similarity evoked the plans to unite both countries, which, however, were abandoned shortly after independence. Guinea-Bissau gained independence on 10 September 1974. Flag of Cape Verde The national flag of Cape Verde was adopted on September 22, 1992, replacing the flag adopted during Cape Verdean independence, fought for with Guinea-Bissau, another former Portuguese colony on mainland West Africa. The National Flag of the Republic of Cabo Verde has five unequal horizontal bands of