Cabo Verde’s economy grows 1.4 percent in third quarter

31 December 2015

The Gross Domestic Product of Cabo Verde (Cape Verde) grew by 1.4 percent in the third quarter of 2015, compared with a contraction of 0.7 percent in the same quarter of 2014, the archipelago’s National Statistics Institute said in a statement.

The Quarterly National Accounts released Wednesday showed that the positive trend was due mainly to the growth of Electricity and Water, Hotels and Restaurants, Financial Services and Insurance, Business Services and Public Administration.

The most significant negative contributions were recorded in Manufacturing Industry, Construction, Trade, Transport and Telecommunications.

Since the beginning of the year the Cabo Verde economy grew by 1.0 percent in the first quarter and 0.1 percent in the second quarter. (macauhub/CV)