Serbia and Cape Verde
Serbia and Cabo Verde maintain non-resident representation, ministerial contacts and educational ties. A visit by Serbia's ambassador in 2025 examined cooperation ahead of the diplomatic fiftieth anniversary planned for 2026.
Analysis reviewed: 2026-10-08 · Indicators updated: 2026-10-08History and institutional framework
Ambassador Ana Ilić visited Cabo Verde and spoke with officials responsible for Foreign Affairs, Culture, Agriculture, Tourism and Transport, and Sports and Youth, according to the communication of 4 April 2025.
What merchandise trade shows
In 2025, goods trade between Serbia and Cape Verde totalled 0.0392 million current USD.
Cooperation and bilateral issues
An existing tie was Cabo Verdean students at Serbian universities through World in Serbia.
Bilateral indicators
Blank cells: data unavailable.
| Indicator | Value | Period |
|---|---|---|
| Goods trade | 0.0392 M USD | 2025 · Comtrade |
| Goods: Serbia to Cape Verde | 0.039 M USD | 2025 · Comtrade |
| Goods: Cape Verde to Serbia | 0.000154 M USD | 2025 · Comtrade |
| Services trade | ||
| Export share: Serbia to Cape Verde | 0.000105 % | 2025 · Comtrade |
| Export share: Cape Verde to Serbia | ||
| Investment stock: Serbia in Cape Verde | ||
| Investment stock: Cape Verde in Serbia |
Definitions and sources
Trade adds both directions. Shares refer to the country’s total goods exports; investment is an accumulated stock, not an annual flow. Every figure retains the currency and period of its source. BEA positions are historical-cost estimates based on the immediate counterpart, not market values or investment by ultimate owner. ‘More than’ indicates a lower bound, not an exact amount. A recorded stock does not establish new activity or authorisation to operate under sanctions.
- Goods trade
- 2025 · UN Comtrade; reporters RWA, SAU, SEN, SGP, SRB · Goods; full calendar year; reporter SRB. Exports normally FOB and imports CIF; no addition of mirror declarations. Both directions are identified from the same customs authority.
- Goods: Serbia to Cape Verde
- 2025 · UN Comtrade; reporters RWA, SAU, SEN, SGP, SRB · Goods; full calendar year; reporter SRB. Exports normally FOB and imports CIF; no addition of mirror declarations. Both directions are identified from the same customs authority.
- Goods: Cape Verde to Serbia
- 2025 · UN Comtrade; reporters RWA, SAU, SEN, SGP, SRB · Goods; full calendar year; reporter SRB. Exports normally FOB and imports CIF; no addition of mirror declarations. Both directions are identified from the same customs authority.
- Export share: Serbia to Cape Verde
- 2025 · UN Comtrade; reporters RWA, SAU, SEN, SGP, SRB · Exports to the partner / worldwide exports by the same reporter; same year and coverage.
Country comparison
Period and source beside each figure · est. = estimate by the stated institution.
| Indicator | Serbia | Cape Verde |
|---|---|---|
| Nominal GDP | 99.95 billion USD2025 · WB | 3.06 billion USD2025 · WB |
| GDP per capita | 15,262.05 USD2025 · WB | 5,796.47 USD2025 · WB |
| GDP growth | 2.03 %2025 · WB | 6.3 %2025 · WB |
| Policy interest rate | ||
| Inflation · annual average | 3.89 %Annual average · 2025 · WB | 2.34 %Annual average · 2025 · WB |
| Inflation · latest year-on-year figure | ||
| Unemployment | 7.12 %ILO est.2025 · WB | 11.94 %ILO est.2025 · WB |
| Budget balance (% of GDP) | -2.2 %IMF est.2025 · IMF | 1.1 %IMF est.2025 · IMF |
| Gross public debt (% of GDP) | 42.4 %IMF est.2025 · IMF | 101 %IMF est.2025 · IMF |
| Current account balance (% of GDP) | -4.9 %2025 · WB | 3.53 %2025 · WB |
| Population | 6,549,143World Bank est.2025 · WB | 527,3262025 · WB |
| Area | 84,990 km²2023 · WB | 4,030 km²2023 · WB |
| Military expenditure | ||
| Military expenditure (% of GDP) |
Definitions, dates and sources
Blank cells are not zero. Average annual inflation and the latest year-on-year figure appear in separate rows: they are not the same measure. Every annual indicator retains its reference year; when the years differ, the figures are identified as not directly comparable. When a figure is unavailable from the World Bank, an annual IMF estimate is used and identified as such. The latest year-on-year figure is the latest official release verified as of 7 October 2026. This includes advance releases marked as provisional. Mexico may have a fortnightly figure before the full month is published; it is not automatically compared with a monthly figure. The publication date is retained in each source’s details; it does not replace the observation period or the annual average. Policy rates carry their own dates and represent different instruments. Spain and France share the ECB rate. Balances are positive for surpluses and negative for deficits. The IMF may use fiscal years; unemployment retains each source’s definition (ILO estimates, IMF WEO or PCBS), as stated in the details. For Palestine, debt and the fiscal balance cover central government and retain the PCBS definition; they are not presented as consolidated general government. These are economic magnitudes, not measures of relationship quality.
Area retains each source’s territorial coverage; it does not determine sovereignty or effective control. Canada uses an archived national geographic reference. Military expenditure retains the 2024 SIPRI sample distributed by the World Bank: the amount and percentage of GDP use that same definition, which differs from NATO’s. It is not an approved budget or a 2026 figure. Information from the Stockholm International Peace Research Institute (SIPRI). Military expenditure database · Terms of use0
Indicators reviewed: 2026-10-07. Each source retains its original access date; this review does not turn all the data into 2026 observations. Figures may be revised.
- Nominal GDP
- Current USDSerbia: 2025 · World Bank · Official World Bank series. Observation year, not download date.Cape Verde: 2025 · World Bank · Annual World Bank observation, with its original year; not monthly data.
- GDP per capita
- Current USD per personSerbia: 2025 · World Bank · Official World Bank series. Observation year, not download date.Cape Verde: 2025 · World Bank · Annual World Bank observation, with its original year; not monthly data.
- GDP growth
- Annual real change (%)Serbia: 2025 · World Bank · Official World Bank series. Observation year, not download date.Cape Verde: 2025 · World Bank · Annual World Bank observation, with its original year; not monthly data.
- Policy interest rate
- Central bank instrument (%)
- Inflation · annual average
- Average annual change in headline CPI (%)Serbia: 2025 · Annual average change in the CPI (%) · World Bank · Official World Bank series. Observation year, not download date.Cabo Verde: 2025 · Annual average CPI change (%) · World Bank · Annual World Bank observation, with its original year; not monthly data.
- Inflation · latest year-on-year figure
- Headline CPI relative to the same period of the previous year (%); monthly or fortnightly frequency stated
- Unemployment
- % of the labour force; definition used by the stated institutionSerbia: 2025 · ILO modelled estimate; percentage of the labour force · World Bank · ILO est. · Official World Bank series. Observation year, not download date.Cabo Verde: 2025 · ILO modelled estimate; percentage of the labour force · World Bank · ILO est. · Annual World Bank observation, with its original year; not monthly data.
- Budget balance
- General government (% of GDP)Serbia: 2025 · IMF · IMF est. · WEO general-government estimate, % of GDP. Not an observed balance for the current month.Cape Verde: 2025 · IMF · IMF est. · WEO general-government estimate, % of GDP. Not an observed balance for the current month.
- Gross public debt
- General government (% of GDP)Serbia: 2025 · IMF · IMF est. · WEO general-government estimate, % of GDP. Not an observed balance for the current month.Cape Verde: 2025 · IMF · IMF est. · WEO general-government estimate, % of GDP. Not an observed balance for the current month.
- Current account balance
- % of GDPSerbia: 2025 · World Bank · Official World Bank series. Observation year, not download date.Cape Verde: 2025 · World Bank · Annual World Bank observation, with its original year; not monthly data.
- Population
- PeopleSerbia: 2025 · World Bank · World Bank est. · Extrapolated estimate identified by the World Bank; not a census for the reference year.Cape Verde: 2025 · World Bank · Annual World Bank observation, with its original year; not monthly data.
- Area
- Total area in km²; territorial coverage of the sourceSerbia: 2023 · World Bank · Official World Bank series. Observation year, not download date.Cape Verde: 2023 · World Bank · Annual World Bank observation, with its original year; not monthly data.
- Military expenditure
- Current USD per year; SIPRI series
- Military expenditure (% of GDP)
- Percentage of GDP; SIPRI definition, not NATO’s definition
Other data specific to this relationship
What they buy and sell
Documented selection, not an exhaustive list. Cells without a figure do not mean zero value; some products are identified without a verified amount.
Serbia to Cape Verde
| Product or sector | Value / share |
|---|---|
Cape Verde to Serbia
| Product or sector | Value / share |
|---|---|
Connections between people
Ambassador Ana Ilić visited Cabo Verde and spoke with officials responsible for Foreign Affairs, Culture, Agriculture, Tourism and Transport, and Sports and Youth, according to the communication of 4 April 2025. Serbia's foreign ministry highlighted cooperation and reciprocal multilateral support and identified tourism, agriculture, culture and sports as areas with development potential. An existing tie was Cabo Verdean students at Serbian universities through World in Serbia. [1]
Residents, study and travel
Blank cells: data unavailable. Each measure retains its definition and period.
| Indicator | Value | Period / source |
|---|---|---|
| Residents from Serbia living in Cape Verde | ||
| Residents from Cape Verde living in Serbia | ||
| Study and training: Serbia in Cape Verde | ||
| Study and training: Cape Verde in Serbia | ||
| Academic stays: Serbia in Cape Verde | ||
| Academic stays: Cape Verde in Serbia | ||
| Travel: Serbia to Cape Verde | ||
| Travel: Cape Verde to Serbia |
What each figure measures
Residents are counted by nationality and the coverage of the stated register, not as people born in the other country or as new arrivals in one year. PERE includes dual nationals and people born outside Spain. Study with OPT and stays carrying academic credit are different measures. Travel may include several visits by the same person; FRONTUR arrivals require an overnight stay, whereas the Canadian survey includes day visits. These figures are neither added together nor automatically compared across directions.
Mobility data added or reviewed: 2026-10-07. Reference periods may be earlier.
Underlying ties
History, institutions and long-standing issues.
History and institutional framework
Ambassador Ana Ilić visited Cabo Verde and spoke with officials responsible for Foreign Affairs, Culture, Agriculture, Tourism and Transport, and Sports and Youth, according to the communication of 4 April 2025. Serbia's foreign ministry highlighted cooperation and reciprocal multilateral support and identified tourism, agriculture, culture and sports as areas with development potential. [1]
The scale of both economies
Nominal GDP for Serbia is 100 billion USD (2025), compared with 3.1 for Cape Verde (2025). The reference populations are 6.55 and 0.527 million, respectively. In the same year, the economy of Serbia was 32.7 times that of Cape Verde in nominal GDP. The comparison provides context on market size, but does not, on its own, measure influence, well-being or diplomatic closeness. Estimates and their sources retain their labels in the tables. [3] [4] [5] [6]
Recent developments
Recent developments and latest available data · Review: 2026-10-08
Cooperation and bilateral issues
An existing tie was Cabo Verdean students at Serbian universities through World in Serbia. During the visit, Ilić also met the European Union delegation and United Nations system coordination in Cabo Verde. [1]
What merchandise trade shows
In 2025, merchandise trade between the two countries (Serbia and Cape Verde) totalled 0.0392 million current USD. Shipments from the first to the second were 0.039 million; those in the opposite direction, 0.000154 million. The difference between the two flows was 0.0389 million, in favour of Serbia. This is a goods balance, not the total balance of the economic relationship: it excludes services, income and transfers. Both directions come from a single customs reporter to avoid adding mirror records. [2]
The partner's share of exports
Sales from Serbia to the partner represented 0.000105% of its worldwide goods exports in 2025. The share compares the same reporter, year and coverage. It measures export concentration, not the percentage of GDP dependent on this relationship. A partner may be important in a specific sector even if its share of total goods trade is small. [2]
Sources and data
Periods and scope of the figures
Institutional sources and periods accompany each figure. Annual trade, investment positions, residents and visits are distinct measures. Empty cells do not mean zero. Statements of intent are not presented as project implementation or treaties in force.
- Bilateral relations — SRB-CPV
lisbon.mfa.gov.rs · Institutional source · Accessed: 2026-10-08
- Bounded matrix; reporter, partner, year, chapter and direction identified in each record
UN Comtrade; reporters RWA, SAU, SEN, SGP, SRB · Institutional source · Accessed: 2026-10-08
- NY.GDP.MKTP.CD; ISO and reference year; no military dataset expansion
World Bank · Institutional source · Accessed: 2026-10-07
- Official series — gdp
World Bank · Institutional source · Accessed: 2026-10-07
- SP.POP.TOTL; ISO and reference year; no military dataset expansion
World Bank · Institutional source · Accessed: 2026-10-07
- Official series — population
World Bank · Institutional source · Accessed: 2026-10-07