Cape Verde Economy Surges 6.3% in 2025: Manufacturing Leads
Cape Verde’s economy maintained robust momentum through 2025, recording a 6.3% growth in Gross Domestic Product (GDP), according to the latest data released by the National Institute of Statistics (INE) on Thursday.
A Steady Performance Despite Slight Cooling
The annual growth rate reflects a minor deceleration from the 7.0% expansion recorded in 2024. Despite this slight cooling, the island nation’s economy closed the year on a high note, with the fourth quarter alone posting a year-on-year growth of 7.1% in real terms.
The INE also updated its historical data, revising the 2024 growth figure downward from an earlier estimate of 7.2% to a final calculation of 7.0%.
Key Drivers of Growth
From a production standpoint, the Gross Value Added (GVA) rose by 7.0% over the year. The surge was fueled primarily by three core areas:
- Manufacturing industries
- Transportation
- Public services
However, the performance across the economy was not uniform. While most sectors showed positive movement, the INE reported declines in both the agriculture and construction sectors, which faced headwinds during the period.
Expenditure and Trade
When analyzing the economy through the lens of expenditure, growth was largely sustained by two pillars: increased public spending and a rise in exports of goods and services. While imports also grew, the pace of purchasing goods from abroad was less intense than in previous periods, helping to balance the national accounts.
The figures underscore Cape Verde’s resilience and its continued recovery trajectory, positioning the nation as a steady performer in the regional economic landscape.
Image: Pexels – Carlo Jünemann
