Insurance and financial services in Cape Verde
Cape Verde: Insurance and financial services was 3.5% in 2025. ◆ Volatile
Insurance and financial services in Cape Verde, 1977–2025
Source: Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of service imports, BoP.
Analysis
Cape Verde recorded 3.5% for insurance and financial services in 2025.
Compared with earlier readings it is down 5.7% on the previous year and down 30.7% over ten years.
Over the whole period, insurance and financial services in Cape Verde peaked at 6.9% in 2011 and was at its lowest, 0.2%, in 1979.
Cape Verde ranks 145th of 197 countries on this measure, in the middle of the range.
The series is highly variable year to year, so single readings are best treated with caution.
Insurance and financial services in Cape Verde, year by year
| Year | % of service imports, BoP | Change |
|---|---|---|
| 1977 | 0.6% | — |
| 1978 | 1.6% | +180.6% |
| 1979 | 0.2% | -90.3% |
| 1980 | 1.0% | +574.6% |
| 1981 | 0.5% | -47.7% |
| 1982 | 0.5% | -2.1% |
| 1983 | 0.2% | -60.1% |
| 1984 | 2.4% | +1072.9% |
| 1985 | 1.3% | -48.5% |
| 1986 | 0.6% | -49.6% |
| 1998 | 2.6% | +310.4% |
| 1999 | 5.2% | +99.7% |
| 2000 | 3.2% | -38.4% |
| 2001 | 5.2% | +63.1% |
| 2002 | 3.7% | -28.6% |
| 2003 | 3.7% | -1.1% |
| 2004 | 4.7% | +27.0% |
| 2005 | 5.3% | +13.2% |
| 2006 | 4.8% | -9.5% |
| 2007 | 4.8% | +1.2% |
| 2008 | 5.1% | +5.9% |
| 2009 | 5.4% | +4.5% |
| 2010 | 6.0% | +11.0% |
| 2011 | 6.9% | +15.5% |
| 2012 | 5.6% | -19.0% |
| 2013 | 4.7% | -15.9% |
| 2014 | 6.7% | +42.1% |
| 2015 | 5.1% | -24.1% |
| 2016 | 2.6% | -49.0% |
| 2017 | 3.2% | +23.4% |
| 2018 | 2.0% | -36.3% |
| 2019 | 2.4% | +17.5% |
| 2020 | 4.9% | +106.4% |
| 2021 | 3.7% | -23.6% |
| 2022 | 3.9% | +3.5% |
| 2023 | 3.3% | -16.1% |
| 2024 | 3.7% | +14.0% |
| 2025 | 3.5% | -5.7% |
Cape Verde compared with similar countries
- Cape Verde's 3.5% is below the median for upper middle income countries, which is 6.2%, 57% of the median. (55 countries reporting)
- Cape Verde's 3.5% is below the median for Sub-Saharan Africa, which is 6.5%, 54% of the median. (45 countries reporting)
Biggest year-on-year movements
Years where Insurance and financial services in Cape Verde changed far more than this series normally does. A large move can be a real event or a change in how the figure was measured — the source note below says who published it.
| Year | Change | From | To |
|---|---|---|---|
| 1984 | +1072.9% | 0.2% | 2.4% |
| 1980 | +574.6% | 0.2% | 1.0% |
| 1998 | +310.4% | 0.6% | 2.6% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 0.8% | 0.2% | 1.6% | 3 |
| 1980s | 0.9% | 0.2% | 2.4% | 7 |
| 1990s | 3.9% | 2.6% | 5.2% | 2 |
| 2000s | 4.6% | 3.2% | 5.4% | 10 |
| 2010s | 4.5% | 2.0% | 6.9% | 10 |
| 2020s | 3.8% | 3.3% | 4.9% | 6 |
Countries ranked near Cape Verde
More economy & growth data for Cape Verde
- Foreign direct investment, net outflows (BoP, current US$), gaps 23.86 million BoP, current US$ (2025)
- Foreign direct investment, net outflows (BoP, current US$), per unit 0.0078 BoP, current US$ per US$ of GDP (2025)
- Foreign direct investment, net outflows (BoP, current US$), per capita 45.25 BoP, current US$ per person (2025)
- Foreign direct investment, net inflows (BoP, current US$), gaps filled 153.85 million BoP, current US$ (2025)
- Foreign direct investment, net inflows (BoP, current US$), annual 39.95 % change on previous year (2025)
- Foreign direct investment, net inflows (BoP, current US$), per unit 0.0503 BoP, current US$ per US$ of GDP (2025)
- Foreign direct investment, net inflows (BoP, current US$), per capita 291.76 BoP, current US$ per person (2025)
- Total reserves (includes gold, current US$), annual growth rate 60.76 % change on previous year (2025)
- Total reserves (includes gold, current US$), per unit of GDP 0.4119 includes gold, current US$ per US$ of GDP (2025)
- Total reserves (includes gold, current US$), per capita 2,387 includes gold, current US$ per person (2025)
Frequently asked questions
- What is insurance and financial services in Cape Verde?
- Insurance and financial services in Cape Verde was 3.5% in 2025, according to Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest insurance and financial services recorded in Cape Verde?
- The highest recorded value was 6.9% in 2011.
- What is the lowest insurance and financial services recorded in Cape Verde?
- The lowest recorded value was 0.2% in 1979.
- How does Cape Verde rank for insurance and financial services?
- Cape Verde ranks 145th out of 197 countries with data for 2025.
- Is insurance and financial services rising or falling in Cape Verde?
- Over the last ten years it is down 30.7%. The long-run trend across the full record is volatile.
- Where does this Cape Verde data come from?
- The figures come from Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF), published as part of Insurance and financial services (% of service imports, BoP). Statizoid updates them automatically from the source API.
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About this data
Insurance and financial services cover various types of insurance provided to nonresidents by resident insurance enterprises and vice versa, and financial intermediary and auxiliary services (except those of insurance enterprises and pension funds) exchanged between residents and nonresidents. This indicator is expressed as a percentage of service imports which are services provided by non-residents to residents.