Cape Verde GDP Annual Growth Rate

The Gross Domestic Product (GDP) in Cape Verde expanded 1 percent in 2012 from the previous year. GDP Annual Growth Rate in Cape Verde is reported by the Banco de Cabo Verde. From 1981 until 2012, Cape Verde GDP Annual Growth Rate averaged 5.2 Percent reaching an all time high of 10.9 Percent in December of 1999 and a record low of -1.3 Percent in December of 2009. Cape Verde is one of the most developed countries in Africa. In recent years, as a result of its solid economic and social performance it has gained the status of middle income country according to United Nations criteria. The most important sector of the economy is services with commerce, transport, government and tourism accounting for the biggest share. Remittances are also crucial (9 percent of GDP). In recent years, foreign direct investment in tourism and manufacturing has been increasing due to stable political environment and increasingly skilled labour force. However, in order to keep current pace of growth, Cape Verde has to address drought prone agriculture, outdated infrastructure and youth unemployment. This page provides - Cape Verde GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. 2014-04-17

Actual Previous Highest Lowest Forecast Dates Unit Frequency
1.00 1.70 10.90 -1.30 2.18 | 2013/12 1981 - 2012 Percent Yearly

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Cape Verde GDP Annual Growth Rate
LIST BY COUNTRY

GDP Last Previous Highest Lowest Forecast Unit
GDP 1.89 2012-12-31 1.90 1.90 0.13 1.98 2013-12-31 USD Billion [+]
GDP Annual Growth Rate 1.00 2012-12-31 1.70 10.90 -1.30 2.18 2013-12-31 Percent [+]
GDP per capita 2986.70 2012-12-31 2886.20 2986.70 772.80 3090.51 2013-12-31 USD [+]
GDP per capita PPP 3818.17 2012-12-31 3689.73 3818.17 987.89 3950.84 2013-12-31 USD [+]
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GDP Annual Growth Rate | Notes
The annual growth rate in Gross Domestic Product measures the increase in value of the goods and services produced by an economy over the period of a year. Therefore, unlike the commonly used quarterly GDP growth rate the annual GDP growth rate takes into account a full year of economic activity, thus avoiding the need to make any type of seasonal adjustment.


RELATED NEWS

Cape Verde Inflation Rate at 0.90 Percent  
The inflation rate in Cape Verde was recorded at 0.90 percent in February of 2014. Inflation Rate in Cape Verde is reported by the INE, Cape Verde.
Cape Verde Interest Rate at 8.25 Percent  
The benchmark interest rate in Cape Verde was last recorded at 8.25 percent. Interest Rate in Cape Verde is reported by the Banco de Cabo Verde.
Cape Verde Sales Tax Rate | VAT at 15.00 Percent  
The Sales Tax Rate in Cape Verde stands at 15 percent. Sales Tax Rate in Cape Verde is reported by the Ministry of Finance.
Cape Verde Balance of Trade at -4504.30 CVE Million  
Cape Verde recorded a trade deficit of 4504.30 CVE Million in November of 2013. Balance of Trade in Cape Verde is reported by the Banco de Cabo Verde.
Cape Verde Imports at 4989.99 CVE Million  
Imports in Cape Verde decreased to 4989.99 CVE Million in November of 2013 from 6720.37 CVE Million in October of 2013. Imports in Cape Verde is reported by the Banco de Cabo Verde.
Cape Verde Exports at 485.69 CVE Million  
Exports in Cape Verde decreased to 485.69 CVE Million in November of 2013 from 591.68 CVE Million in October of 2013. Exports in Cape Verde is reported by the Banco de Cabo Verde.
Cape Verde Current Account at -562.42 CVE Million  
Cape Verde recorded a Current Account deficit of 562.42 CVE Million in the third quarter of 2013. Current Account in Cape Verde is reported by the Banco de Cabo Verde.
Cape Verde Consumer Confidence at 13.00  
Consumer Confidence in Cape Verde decreased to 13 in the fourth quarter of 2013 from 16 in the third quarter of 2013. Consumer Confidence in Cape Verde is reported by the INE, Cape Verde.
Cape Verde Foreign Exchange Reserves at 33516.90 Escudo Million  
Gross Foreign Exchange Reserves in Cape Verde decreased to 33516.90 Escudo Million in October of 2013 from 33673 Escudo Million in September of 2013. Foreign Exchange Reserves in Cape Verde is reported by the Banco de Cabo Verde.
Cape Verde Money Supply M2 at 129469.60 Escudo Million  
Money Supply M2 in Cape Verde increased to 129469.60 Escudo Million in October of 2013 from 129306.90 Escudo Million in September of 2013. Money Supply M2 in Cape Verde is reported by the Banco de Cabo Verde.
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