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2025-07-29 17:42:06
Cape Verde's GDP growth slowed to 3.7% in the first quarter. (1) Cape Verde's GDP grew by 3.7% year-on-year in the first quarter of 2025, a significant slowdown from the previously revised 6.6% and the lowest growth rate since the third quarter of 2023. (2) The agricultural sector rebounded strongly, with year-on-year growth of 25.7% (previous -1.3%). Mining (20.1% vs. 23% in the previous quarter) and construction (15.7% vs. 15.1%) remained robust. Transport and warehousing growth accelerated to 6.3% (previous 4.7%). (3) The public administration sector contracted by 1% year-on-year (previous +13.9%), the trade sector's decline widened to 7.4% (previous -4.8%), and real estate growth slowed to 5.9% (previous 7.6%). (4) The World Bank projects Cape Verde's economic growth to slow to 5.9% in 2025 (7.3% in 2024).
