Cape Verde GDP Expands Solidly in Q1

Cape Verde’s economy advanced by 7.1% year-on-year in the last quarter of 2025, following an upwardly revised 8.3% growth in the previous period. Key positive contributions came from manufacturing (13.1% vs 15.1% in Q3), transport and storage (10% vs 12.5%), financial and insurance services (15.6% vs 4.3%), public administration (9.9% vs 8.6%), and education (78.5% vs 9.1%). Net taxes on production and imports also increased by 7.4%. Conversely, notable declines were seen in agriculture, livestock and forestry (-24% vs -7.2%); fishing and aquiculture (-6.9% vs 1.5%); mining (-7.4% vs 17.6%); information & communication (-10.4% vs 13.9%) and construction (-7.2% vs 17.1%). On the expenditure side, growth was mainly supported by higher public consumption (18.8% vs 10.1%) and net external demand, as stronger exports of goods and services (5.7% vs 3.9%) offset imports (3.8% vs 11.9%). In 2025, GDP expanded by 6.3%, following a 7% increase in 2024.

The economy of Cape Verde expanded by 7.3% year-on-year in Q3 2025, accelerating from a 6.2% advance in the previous three-month period. This was the strongest growth rate since Q1 2024, driven mainly by manufacturing (+15.2%), construction (+17.2%), transport & storage (+12.6%), and public administration (+8.5%). Conversely, agriculture, livestock and forestry registered a steep decline of 15.5%. Net taxes on products increased 11.8%, contributing 1.9 percentage points. On the demand side, the expansion was supported by higher public consumption and increased investment. Final consumption rose 4.3%, with private consumption up 3.0% and public consumption up 8.7%. Fixed investment jumped 53.7%. Net trade contributed negatively to the GDP, as exports slipped 3.8% whereas imports jumped 9.2%.

The economy of Cape Verde expanded by 6.2% year-on-year in Q2 2025, accelerating from a 3.7% rise in the previous period. Key sectors driving growth included construction (23.2% vs 15.7% in Q1), mining (25.2% vs 20.1%), fisheries (20.5% vs -17.9%), transport (7.9% vs 6.3%), accommodation and food services (15% vs 4.7%), public administration (9% vs -1%), and business services (10.9% vs 2.7%). Additionally, net taxes on products, after subsidies, increased 8.3% in Q2, adding 1.3 percentage points to total GDP growth. On the demand side, private consumption rose 2.7%, and public consumption grew 5.2%, while investment surged 12.3%. Net external demand also contributed positively to the GDP growth, as exports advanced by 3.2% (vs -6.4% in Q1) whereas imports rose by only 0.2% (vs -7.3% in Q1).