The Gross Domestic Product (GDP) in Cape Verde contracted 34.30 percent in the second quarter of 2020 over the previous quarter. source: INE, Cape Verde

GDP Growth Rate in Cape Verde averaged 0.39 percent from 2007 until 2020, reaching an all time high of 11.10 percent in the fourth quarter of 2007 and a record low of -34.30 percent in the second quarter of 2020. This page provides - Cape Verde Gdp Growth Rate- actual values, historical data, forecast, chart, statistics, economic calendar and news. Cape Verde GDP Growth Rate - values, historical data and charts - was last updated on February of 2021.

GDP Growth Rate in Cape Verde is expected to be 3.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Growth Rate in Cape Verde to stand at 1.60 in 12 months time. In the long-term, the Cape Verde GDP Growth Rate is projected to trend around 2.30 percent in 2021 and 1.50 percent in 2022, according to our econometric models.

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Cape Verde GDP Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
-34.30 -1.90 11.10 -34.30 2007 - 2020 percent Quarterly

Cape Verde GDP Last Previous Highest Lowest Unit
GDP Annual Growth Rate -18.20 -31.70 13.60 -31.70 percent [+]
GDP 1.98 1.97 1.98 0.13 USD Billion [+]
GDP per capita 3907.70 2749.48 2749.48 496.99 USD [+]
GDP per capita PPP 7171.80 6864.10 7171.80 1730.80 USD [+]
Gross Fixed Capital Formation 17958.00 11650.00 19598.70 6800.70 CVE Million [+]
GDP Constant Prices 34267.67 28374.27 44007.21 28374.27 CVE Million [+]
GDP From Agriculture 1327.00 2272.00 4151.20 1327.00 CVE Million [+]
GDP From Construction 4565.00 2701.00 4644.60 2057.60 CVE Million [+]
GDP From Manufacturing 2026.00 1627.00 2857.00 1271.20 CVE Million [+]
GDP From Mining 92.00 55.00 296.80 55.00 CVE Million [+]
GDP From Public Administration 7683.00 7198.00 7683.00 3137.00 CVE Million [+]
GDP From Services 3381.00 2653.00 4819.40 2653.00 CVE Million [+]
GDP From Transport 2313.00 1128.00 3960.00 1128.00 CVE Million [+]
GDP From Utilities 1317.00 1248.00 1461.10 203.60 CVE Million [+]


Cape Verde GDP Growth Rate
The most important sector of Cape Verde’s economy is services and accounts for 72 percent of total GDP, of which public administration (18 percent); real estate and other services (13 percent); wholesale and retail trade (12 percent); transport (11 percent) and hotels and restaurants (7 percent). Industry constitutes 21 percent with construction (9 percent) and manufacturing, mining and quarrying (8 percent). Agriculture and fishing create 7 percent of the wealth. On the expenditure side, household consumption is the main component of GDP and accounts for 66 percent of its total use, followed by capital formation (36 percent) and government expenditure (17 percent). Exports of goods and services account for 47 percent of GDP while imports account for 67 percent, subtracting 20 percent of total GDP.