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
Cape Verde coast make up the majority of foreigners in the country. Over the last several years, a few thousand Europeans and Latin Americans have settled in the country. On the islands, there are over 22,000 foreigners/naturalized Cape Verdeans who hail from over 90 countries around the world living and working on a permanent basis. Over the years, Cape Verde has increasingly become a net immigration country due to its relative high per capita income, political and social stability, and freedom. Emigrants from the Cape Verde islands to North America have a long history of involvement with the armed forces. Enlisting in