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–United States relations time and continues today. The first U.S. consulate in sub-Saharan Africa was established in Cape Verde in 1818. U.S. consular representation continued throughout the 19th century. The United States recognized Cape Verde on its independence day and supported its admission to the United Nations. Cape Verde assigned one of its first ambassadors to the United States, and a resident U.S. ambassador was posted to Cape Verde in 1983. Prime Minister Jose Neves visited Cape Verdean communities in New England during an official trip to the United States in 2002, and President Pedro Pires visited the United States in April 2005.