Final Accounts for 2023 Correct Cape Verde’S GDP by 0.6 Pp

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Final Accounts for 2023 Correct Cape Verde'S GDP by 0.6 Pp
Final Accounts for 2023 Correct Cape Verde'S GDP by 0.6 Pp

Africa-Press – Cape verde. Cape Verde’s Gross Domestic Product (GDP) grew 4.8% in 2023, according to the Final National Accounts published today, which correct the provisional value of 5.4% by 0.6 percentage points.

The provisional value had been updated in October 2024, by the National Statistics Institute (INE), after publication of the final accounts for 2022 and, more recently, in April, after review of the quarterly accounts.

According to the INE, economic growth in 2023 was based on final consumption by public administrations and exports (on the demand side), as well as on the activities of the food, accommodation and catering industries (on the supply side).

Taxes net of subsidies showed a positive year-on-year increase of 8.9%.

Economy of Cape Verde

Growth rates (updated by INE)

2020: -20.8%

2021: +7%

2022: +15.8%

2023: +4.8%

2024: +7.3% (p)

(p) – ‘provisional’ for all purposes, until the publication of the 2024 annual accounts

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