08.10.202510:22:17UTC+00Cape Verde GDP Growth Accelerates in Q2

In the second quarter of 2025, Cape Verde's economy saw a robust growth of 6.2% compared to the same period the previous year, marking an increase from the 3.7% growth observed in the first quarter. This expansion was notably driven by several key sectors: construction boomed by 23.2%, up from 15.7% in Q1; mining experienced a growth of 25.2%, rising from 20.1%; fisheries recovered with a remarkable 20.5% growth after a decline of 17.9%; transport saw an increase to 7.9% from 6.3%; accommodation and food services soared to 15% from 4.7%; public administration improved significantly to 9% from a previous contraction of 1%; and business services expanded by 10.9%, up from 2.7%. Furthermore, net taxes on products, accounting for subsidies, rose by 8.3% in Q2, contributing an additional 1.3 percentage points to the overall GDP growth. On the demand side, private consumption increased by 2.7%, public consumption grew by 5.2%, and investment surged by an impressive 12.3%.