Cape Verdean economy posts growth in 2008, 2009 and 2010

28 January 2013

Cape Verde’s gross domestic product (GDP) at current prices posted growth of 6.7 percent in 2008, 2.2 percent in 2009 and 3.7 percent in 2010, the archipelago’s National Statistics Institute (INE) said Friday in Praia.

On publishing National Accounts for the 2007/2010 period, INE also said that GDP had grown by 13.6 percent in the period from 122 billion Cape Verdean escudos to 138.6 billion escudos in 2010.

The sector that contributed most to that growth was the services sector, which accounts for an average of 60.5 percent of the country’s GDP. In the period the services sector posted growth of 14 percent.

INE’s figures showed that in the primary sector (agriculture, water and aquaculture, and mining), there was a contraction of 5.8 percent in 2010, following growth of 7.3 percent in 2009 and 2.6 percent in 2008.

The secondary sector (food, beverages and tobacco industry, electricity, construction, and others), contracted by 3.7 percent in 2010, following rises of 2.3 percent in 2008 and 5.4 percent in 2009. (macauhub)