Cape Verde GDP Growth Hits 1-1/2-Year High

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).

Cape Verde’s economy grew by 3.7% year-on-year in the first quarter of 2025, marking the slowest expansion since the third quarter of 2023 and easing from a downwardly revised 6.6% increase in the previous period. A strong rebound was recorded in the agriculture sector, which surged 25.7% after contracting 1.3% in Q4 2024. Solid performances were also seen in mining (up 20.1% vs. 23% in Q4) and construction (15.7% vs. 15.1%). Transport and warehousing growth accelerated to 6.3% from 4.7%. In contrast, public administration shrank by 1% after a sharp 13.9% rise previously, and trade contracted further, down 7.4% compared to a 4.8% drop in Q4. Growth in the real estate sector also slowed to 5.9% from 7.6%. The World Bank expects Cape Verde’s economy to grow by 5.9% in 2025, down from 7.3% in 2024.