Cape Verde's real gross domestic product grew 8.9% year-on-year in the second quarter of 2026, accelerating from 6.4% in the first quarter, statistics agency INE said on September 30. Investment increased 56.9% in volume and private consumption grew 6.2%. Trade, construction, financial services and agriculture were the main contributors on the production side, INE said.
Analysis: Growth averaged 7.6% in the first half, well ahead of the IMF's February forecast of 5.1% for the whole of 2026, while the second quarter was the strongest since early 2024. INE identified investment as the main driver, even as hotel and restaurant output declined 8.8%, suggesting an expansion driven more by building and inventory accumulation than tourism. Contractors, construction suppliers and their lenders could benefit first. Third-quarter national accounts, due by late December, should reveal whether growth held up as fuel and import costs increased.
Source: INE Cabo Verde, INE, Contas Nacionais Trimestrais - 2º trimestre 2026, Q2 2026; INE Cabo Verde, INE, Contas Nacionais Trimestrais - 2º trimestre 2026 (press note PDF), Q2 2026 and Q1 2026 and H1 2026; International Monetary Fund, IMF Press Release No. 26/036 (2025 Article IV, 7th ECF review, 3rd RSF review), 2026; Ministério das Finanças de Cabo Verde, Ministério das Finanças, Relatório OE 2027, 2027