Remittance inflows to GDP in Cape Verde
Cape Verde: Remittance inflows to GDP was 14.4% in 2020. ▼ Falling
Remittance inflows to GDP in Cape Verde, 1980–2020
Source: World Development Indicators (WDI), World Bank. Measured in %.
Analysis
In 2020, remittance inflows to gdp in Cape Verde stood at 14.4%.
The figure is up 18.5% on the previous year and up 83.4% over ten years.
Over the whole period, remittance inflows to gdp in Cape Verde peaked at 28.2% in 1980 and was at its lowest, 7.9%, in 2010.
That places Cape Verde 22nd out of 197 countries with data for 2020, putting it in the top quarter.
The long-run direction has been consistently falling across the 41 years of available data.
Remittance inflows to GDP in Cape Verde, year by year
| Year | % | Change |
|---|---|---|
| 1980 | 28.2% | — |
| 1981 | 22.7% | -19.6% |
| 1982 | 18.4% | -18.9% |
| 1983 | 14.8% | -19.3% |
| 1984 | 15.6% | +5.2% |
| 1985 | 15.1% | -3.5% |
| 1986 | 14.5% | -4.1% |
| 1987 | 15.5% | +7.1% |
| 1988 | 16.2% | +4.4% |
| 1989 | 17.8% | +10.3% |
| 1990 | 19.3% | +8.0% |
| 1991 | 19.5% | +1.2% |
| 1992 | 21.3% | +9.1% |
| 1993 | 15.6% | -26.7% |
| 1994 | 21.0% | +34.8% |
| 1995 | 21.7% | +3.4% |
| 1996 | 20.0% | -8.0% |
| 1997 | 15.6% | -22.1% |
| 1998 | 14.1% | -9.3% |
| 1999 | 13.5% | -4.8% |
| 2000 | 16.6% | +23.7% |
| 2001 | 14.4% | -13.6% |
| 2002 | 13.7% | -4.8% |
| 2003 | 13.3% | -2.7% |
| 2004 | 12.3% | -7.9% |
| 2005 | 14.1% | +14.6% |
| 2006 | 12.3% | -12.3% |
| 2007 | 9.2% | -25.6% |
| 2008 | 8.7% | -5.5% |
| 2009 | 7.9% | -8.6% |
| 2010 | 7.9% | -0.7% |
| 2011 | 9.5% | +20.5% |
| 2012 | 10.2% | +7.2% |
| 2013 | 9.5% | -6.4% |
| 2014 | 10.6% | +11.4% |
| 2015 | 12.6% | +18.8% |
| 2016 | 12.7% | +1.0% |
| 2017 | 12.2% | -3.7% |
| 2018 | 11.9% | -2.5% |
| 2019 | 12.2% | +2.1% |
| 2020 | 14.4% | +18.5% |
Cape Verde compared with similar countries
- Cape Verde's 14.4% is above the median for upper middle income countries, which is 4.0%, 3.6× the median. (58 countries reporting)
- Cape Verde's 14.4% is above the median for Sub-Saharan Africa, which is 2.4%, 6.1× the median. (48 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1980s | 17.9% | 14.5% | 28.2% | 10 |
| 1990s | 18.2% | 13.5% | 21.7% | 10 |
| 2000s | 12.2% | 7.9% | 16.6% | 10 |
| 2010s | 10.9% | 7.9% | 12.7% | 10 |
| 2020s | 14.4% | 14.4% | 14.4% | 1 |
Countries ranked near Cape Verde
More financial sector data for Cape Verde
- Reserve position in the IMF, US dollar, annual growth rate 7.55 % change on previous year (2025)
- Reserve position in the IMF, US dollar, per unit of GDP 0.0017 units per US$ of GDP (2025)
- Reserve position in the IMF, US dollar, per capita 9.88 units per person (2025)
- Reserve position in the IMF, SDR, annual growth rate 2.42 % change on previous year (2025)
- Reserve position in the IMF, SDR, per unit of GDP 0.0012 units per US$ of GDP (2025)
- Reserve position in the IMF, SDR, per capita 7.21 units per person (2025)
- Reserve tranche position, US dollar, annual growth rate 7.55 % change on previous year (2025)
- Reserve tranche position, US dollar, per unit of GDP 0.0017 units per US$ of GDP (2025)
- Reserve tranche position, US dollar, per capita 9.88 units per person (2025)
- Reserve tranche position, SDR, annual growth rate 2.42 % change on previous year (2025)
Frequently asked questions
- What is remittance inflows to gdp in Cape Verde?
- Remittance inflows to gdp in Cape Verde was 14.4% in 2020, according to World Development Indicators (WDI), World Bank.
- What is the highest remittance inflows to gdp recorded in Cape Verde?
- The highest recorded value was 28.2% in 1980.
- What is the lowest remittance inflows to gdp recorded in Cape Verde?
- The lowest recorded value was 7.9% in 2010.
- How does Cape Verde rank for remittance inflows to gdp?
- Cape Verde ranks 22nd out of 197 countries with data for 2020.
- Is remittance inflows to gdp rising or falling in Cape Verde?
- Over the last ten years it is up 83.4%. The long-run trend across the full record is falling.
- Where does this Cape Verde data come from?
- The figures come from World Development Indicators (WDI), World Bank, published as part of Remittance inflows to GDP (%). Statizoid updates them automatically from the source API.
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About this data
Workers' remittances and compensation of employees comprise current transfers by migrant workers and wages and salaries earned by nonresident workers. Data are the sum of three items defined in the fifth edition of the IMF's Balance of Payments Manual: workers' remittances, compensation of employees, and migrants' transfers. Remittances are classified as current private transfers from migrant workers resident in the host country for more than a year, irrespective of their immigration status, to recipients in their country of origin. Migrants' transfers are defined as the net worth of migrants who are expected to remain in the host country for more than one year that is transferred from one country to another at the time of migration. Compensation of employees is the income of migrants who have lived in the host country for less than a year.