The Gross Domestic Product (GDP) in Cape Verde expanded 16.80 percent in the first quarter of 2022 over the same quarter of the previous year. source: INE, Cape Verde

GDP Annual Growth Rate in Cape Verde averaged 3.40 percent from 1981 until 2022, reaching an all time high of 30.10 percent in the second quarter of 2021 and a record low of -32.30 percent in the second quarter of 2020. This page provides the latest reported value for - Cape Verde GDP Annual Growth Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Cape Verde GDP Annual Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on July of 2022.

GDP Annual Growth Rate in Cape Verde is expected to be 6.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Cape Verde GDP Annual Growth Rate is projected to trend around 6.10 percent in 2023 and 6.00 percent in 2024, according to our econometric models.

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Cape Verde GDP Annual Growth Rate



Calendar GMT Actual Previous Consensus TEForecast
2022-03-31 02:30 PM Q4 13.2% 9.4% 7%
2022-06-30 02:30 PM Q1 16.8% 13.2% 8.5%
2022-09-30 02:30 PM Q2


Related Last Previous Unit Reference
GDP Annual Growth Rate 16.80 13.20 percent Mar 2022
Gross Fixed Capital Formation 13839.00 13158.00 CVE Million Dec 2021
GDP Growth Rate 13.50 0.80 percent Dec 2021
GDP From Utilities 1537.00 1513.00 CVE Million Dec 2021
GDP From Transport 2880.00 2482.00 CVE Million Dec 2021
GDP From Services 4212.00 3767.00 CVE Million Dec 2021
GDP From Public Administration 9282.00 7750.00 CVE Million Dec 2021
GDP From Mining 78.00 88.00 CVE Million Dec 2021
GDP From Manufacturing 3481.00 2339.00 CVE Million Dec 2021
GDP From Construction 3927.00 4440.00 CVE Million Dec 2021
GDP From Agriculture 1036.00 1500.00 CVE Million Dec 2021
GDP Constant Prices 42624.73 37391.45 CVE Million Dec 2021

Cape Verde GDP Annual 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.
Actual Previous Highest Lowest Dates Unit Frequency
16.80 13.20 30.10 -32.30 1981 - 2022 percent Quarterly

News Stream
Cape Verde GDP Expands 13.2% YoY in Q4
The economy of Cape Verde advanced 13.2 percent year-on-year in the fourth quarter of 2021, following an upwardly revised 9.4 percent expansion in the previous three-month period. It was the fourth consecutive quarter of growth driven by low base effects from the previous year when the pandemic shock led to an unprecedented recession and amid the gradual reopening of economic activity. The main drivers of recovery were manufacturing industries (35.1 percent vs 15.4 percent in Q3), electricity and water (18.1 percent vs 14.9 percent), accommodation and restaurants (1145.9 percent vs 348.5 percent), services (11.8 percent vs 7.7 percent) and public Administration (13.3 percent vs 1 percent). On the demand side, household consumption (27.5 percent vs 16.2 percent) and exports (119.4 percent vs 108.4 percent) were the key growth drivers. Considering the full 2021, the GDP expanded 7 percent on year.
2022-03-31
Cape Verde GDP Expands 9% YoY in Q3
The economy of Cape Verde advanced by 9% year-on-year in the third quarter of 2021, following a record 30.8% percent expansion in the previous three-month period, amid the gradual reopening of economic activities. Output grew primarily for manufacturing and hotels & restaurants. On the demand side, private consumption and exports were the key drivers of growth.
2021-12-31
Cape Verde GDP Expands at Record Pace
The economy of Cape Verde expanded by 30.8% year-on-year in the second quarter of 2021, following four consecutive quarters of declines. It was the strongest growth since comparable records began in 2008, influenced by a low base effect from the previous year when the pandemic shock led to an unprecedented recession and amid the gradual reopening of economic activity. The main drivers of the recovery were hotels & restaurants (176.9% vs -93.6% in Q1); transportation (142.1% vs -28.6%); construction (67.3% vs 5.7%), mining (63.7% vs 3.5%); manufacturing (40.6% vs -4.1%) and real estate activities (26.8% vs -6.8%).
2021-09-30