Cape Verde Tenders

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Capital Praia
ISO 3166 Code CV
Population 518,467
Area, Sq KM 4,033
Currency Cape Verdean escudo
Official Language Portuguese
GDP, Billion USD 1,897
GDP Growth Rate, % 1.0
Inflation, Avg CP, % Chng 7.50
Interest Rates, % N/A
Unemployement Rate, % N/A
Exchange Rate, 1 USD Equals 97.10
International dial code 238
Time Zone GMT-01:00
Internet TLD .cv

Cape Verde is known officially as Republic of Cabo Verde and is an island country which is located 570 kilometers away from the coast of Western Africa and spans an archipelago of 10 volcanic islands in central Atlantic Ocean. The islands are estimated to cover an overall area of 4,000 square kilometers. The country has a horse shoe shaped cluster of eight islets and ten islands. Santiago is the largest island in terms of population and size and also hosts, Praia, the nation’s capital. The islands can be divided into group groups such as the Leeward Islands like Santiago and Windward Islands. Portuguese explores were the first ones to discover and explore these islands and colonize them in the 15th century. Cape Verde emigrated across the world at the time of independence from Portugal in the year 1975. The name “Cape Verde” has been used historically in English for the archipelago but since the independence of this country, the government decided that the Portuguese designations “Cabo Verde” will only be used for official purposes. The economy of Cape Verde is service oriented. It has gained a lot of international recognition over time as it has shown economic growth despite of the lack in the natural resources. Cape Verde has been identified as a developing nation since the year 2007 and due to the international recognition it has acquired, it often receives development aid from other countries as well as other international organizations. Five islands out of ten contribute to a certain extent in terms of agriculture but most of the food consumed in Cape Verde is imported from other countries. The country does have a few mineral resources such as limestone, volcanic rock that is used for the production of cement and salt. There are a few wineries in Cape Verde that prepare Portuguese style wines and have acquired popularity in domestic market and slowly gaining acclaim internationally. In spite of having a service oriented economy, the country’s public services, transport along with commerce account for more than 70% of GDP. Fishing as well as agriculture contributes up to 9 percent of the GDP. Since the year 1991, the government of Cape Verde has pursued market oriented economic policies which mainly includes a far reaching privatization programme and welcoming foreign investors. Between the years 2000 and 2009, the real GDP of the country increased on an average by 7% in a year.

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