Cabo Verde: New businesses registered (number)

Key figures

What the numbers say

In 2024, Cabo Verde's new businesses registered (number) rose 22.4% on 2023 (from 6,308 to 7,719).

Across the 15 yearly changes before that (2009 to 2023), the average change was +25.4% and a typical year strayed about 45.5% from that (the standard deviation). This year's change was 0.1 standard deviations below that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.

On record, the biggest yearly rise was 142.5% in 2016 and the biggest yearly fall was 20.3% in 2020. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.

From 2015 to 2024 the straight-line trend is upward, about 614.81 a year. A straight line explains 67% of the movement over 10 observed years.

Worked out from the yearly values above. How the checks work: standard deviation, z-scores and straight-line trends.

How it compares

In 2024, Cabo Verde had the 79th highest value of the 127 economies reporting that year. Higher is not always better: for some indicators the lowest value is the one to aim for. See the full ranking.

Closest to Cabo Verde in the 2024 ranking

• Latvia — 76th of 127: 8,218
• Lao PDR — 77th of 127: 7,941
• Paraguay — 78th of 127: 7,915
• Bahrain — 80th of 127: 7,580
• Moldova — 81st of 127: 7,478
• Bangladesh — 82nd of 127: 7,365

What this measures

New businesses registered are the number of new limited liability corporations (or its equivalent) registered in the calendar year.

Limitations: The definition of entrepreneurship used is limited to the formal sector. Yet, it should be noted that the exclusion of the informal sector is based on the difficulties of quantifying the number of firms that compose it, rather than on its relevance for developing economies. Data collected from economies categorized as offshore financial centers by Eurostat are excluded from the analysis, because registered entities in these countries may not fit the objective of the Entrepreneurship Database aiming at measuring formally registered companies with actual economic activities.

All 17 values

New businesses registered (number) in nearby economies

• Angola — 30,956 (2024)
• Benin — 5,522 (2024)
• Botswana — 21,456 (2024)
• Burkina Faso — 10,046 (2024)
• Burundi — 7,263 (2024)
• Central African Republic — 258 (2024)
• Chad — 1,391 (2024)
• Comoros — 387 (2024)
• Congo, Dem. Rep. — 6,095 (2024)
• Congo, Rep. — 1,437 (2024)
• Côte d'Ivoire

More private sector & trade data for Cabo Verde

• Merchandise imports (current US$) — US$2.04 billion (2025)
• Merchandise exports (current US$) — US$96 million (2025)
• Merchandise imports from high-income economies (% of total merchandise imports) — 83.8% (2023)
• Merchandise imports from low- and middle-income economies in Sub-Saharan Africa (% of total merchandise imports) — 0.69% (2023)
• Merchandise imports by the reporting economy, residual (% of total merchandise imports) — 0% (2023)
• Merchandise imports by the reporting economy (current US$) — US$1.74 billion (2023)
• Merchandise imports from low- and middle-income economies within region (% of total merchandise imports) — 0.69% (2023)

Reading data like this

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Questions people ask

What is Cabo Verde's new businesses registered (number)?

7,719 in 2024, according to the World Bank (World Development Indicators).

How has it changed since 2008?

It is up 1,546% from 469 in 2008 (19.13% a year on average, compounded). The highest value was 9,191 in 2021 and the lowest 469 in 2008.

How does Cabo Verde rank?

79th highest of 127 economies with data for 2024.

Is the latest change in new businesses registered (number) unusual for Cabo Verde?

In 2024, Cabo Verde's new businesses registered (number) rose 22.4% on 2023 (from 6,308 to 7,719). Across the 15 yearly changes before that (2009 to 2023), the average change was +25.4% and a typical year strayed about 45.5% from that (the standard deviation). This year's change was 0.1 standard deviations below that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.

Source

World Bank, World Development Indicators, indicator IC.BUS.NREG, licensed CC BY 4.0. Original source: Entrepreneurship Database, World Bank (WB), uri: https://www.worldbank.org/en/programs/entrepreneurship Figures are fetched from the World Bank API and refreshed monthly; see the series on data.worldbank.org. The full definition and method are in the World Bank's metadata glossary. Comparisons use the same World Bank release.

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