Cabo Verde posts economic growth of 1.2 pct in 2012

2 April 2014

The gross domestic product (GDP) of Cabo Verde (Cape Verde) in 2012 posted nominal growth of 1.9 percent and year-on-year growth of 1.2 percent, according to the National Accounts Estimates published by the National Statistics Institute (INE).

The sector that contributed most to growth was the services sector which, as it accounts for 62.2 percent of total GDP, rose by 4.5 percent in value and 3.9 percent by volume.

The contribution of the secondary sector was negative due to contraction of the construction sector.

On the demand side a drop of 23.1 percent in gross fixed capital formation (investment) and of 14.7 percent in imports also had a significant effect on GDP growth. (macauhub)