The cumulative growth rate for the four quarters of 2015 point to growth of 1.5 percent of Gross Domestic Product (GDP) for Cabo Verde (Cape Verde), the West African archipelago’s National Statistics Institute (INE) said Thursday.
According to the Quarterly National Accounts disclosure sheet for the last three months of 2015, Cabo Verde’s GDP saw annual growth of 1.3 percent in the first quarter, 0.2 percent in the second quarter, 1.0 percent in the third and 3.2 percent in the fourth quarter.
The increase in the fourth quarter was due, according to INE, mainly to the growth recorded in agriculture activities, real estate, public administration and taxes net of subsidies.
Manufacturing, trade, transport and telecommunications posted negative growth.
INE also reported it had revised the growth rate for 2014 from 1.8 percent of GDP to 1.9 percent of GDP. (macauhub/CV)