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 19th century resulted in an economic crisis, and the growing port of Mindelo on São Vicente replaced Praia as the most important port. With few natural resources and inadequate sustainable investment from the Portuguese, the citizens grew increasingly discontented with the colonial masters, who nevertheless refused to provide the local authorities with more autonomy. The island population were disadvantaged by the Portuguese colonial system and supported Amílcar Cabral and the African Party for the Independence of Guinea and Cape Verde and the independence of 1975. Santiago is the largest island of Cape Verde, with an area of . It is