The gross domestic product of Cape Verde advanced 6.7 percent year-on-year in the third quarter of 2019, quickening from a 6.2 percent growth in the previous period. It was the fastest economic expansion since the last quarter of 2018, mainly driven by transportation services (26.6% vs 13.1% in Q2); construction (14.9% vs 6.6%); mining (11% vs 4.5%); manufacturing (9.9% vs 7.7%); public administration (7.9% vs 4.6%) and business services (2.1% vs -8.1%). On the other hand, growth slowed in accommodation & food services (3.3% vs 3.5%); internal trade (5.1% vs 10%); electricity & water supply (3.9% vs 7.1%); finance & insurance (3.9% vs 9.8%) and real estate activities (3.2% vs 4.1%). Meantime, contractions were seen in fishing activity (-34.3% vs -9.5%); agriculture (-5.7% vs 6.4%) and post& telecommunications (-0.7% vs -6.7%).
GDP Annual Growth Rate in Cape Verde averaged 3.90 percent from 1981 until 2019, reaching an all time high of 13.60 percent in the third quarter of 2008 and a record low of -3.40 percent in the first quarter of 2013. 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.
GDP Annual Growth Rate in Cape Verde is expected to be 4.70 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Cape Verde to stand at 5.30 in 12 months time. In the long-term, the Cape Verde GDP Annual Growth Rate is projected to trend around 5.10 percent in 2020, according to our econometric models.