Cabo Verde’s (Cape Verde’s) Gross Domestic Product (GDP) increased by 4.9% year-on-year in the third quarter of 2017, compared to 3.0% in the previous quarter, the archipelago’s National Statistics Institute (INE) said.
INE also reported in the communication with the Quarterly National Accounts for the period from July to September that the acceleration of final consumption was mainly due to an increase in final public consumption expenditure.
Gross fixed capital formation, or investment, had a negative variation of 12.3% year-on-year, compared to a positive variation of 22.4% in the previous quarter.
Exports in the third quarter registered a year-on-year increase of 14.1% compared to a decline of 5.2% in the previous quarter and imports grew by 5.8%, after a 15.0% increase in the previous period.
Gross Value Added (GVA) recorded a positive year-on-year increase of 4.7% in real terms in the period under analysis.
INE also reported that growth was very evident in the first three quarters. (macauhub)