Remittances received by Cape Verde in foreign currency grew 3% in 2025 and reached a record level, according to central bank data consulted today by Lusa.
The total reached around 31 billion escudos (€284 million), with the same origin pattern as previous years: the largest share comes from Portugal (around one third), followed by the United States (29%) and France (18%). The distribution mirrors population density, with the most populous municipality, the capital Praia, receiving a quarter of all remittances, followed by the island of São Vicente (16%) and the municipality of Santa Catarina on Santiago island (11%).
Despite the record, growth slowed — remittances rose 3% between 2024 and 2025, after having increased 6% the previous year. Nevertheless, since 2019 the accumulated value of emigrant deposits held in the archipelago’s banks has been growing steadily, reaching around 60 billion escudos (€544 million) in 2025, according to the same Bank of Cape Verde bulletin.
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Remittances are one of the main pillars of the Cape Verdean economy alongside tourism, reflecting the weight of the diaspora, estimated at around 1.5 million people — roughly triple the archipelago’s resident population.
