The GDP composition of Cabo Verde for 2023 reveals a dominant services sector, comprising 35.56% of the GDP, followed by wholesale, retail trade, restaurants, and hotels at 20.34%. Transport, storage, and communication represent 14.75%, while mining, manufacturing, and utilities account for 10%. Construction and agriculture sectors contribute 9.93% and 9.42%, respectively. Over the last two years, the services sector showed a modest growth, but the wholesale and retail sector expanded significantly. Transport, mining, and construction sectors had slight variations, while agriculture faced minimal growth. The five-year CAGR indicates a steady increase overall.
Future trends to watch for Cabo Verde's GDP composition include:
- Potential expansion in the tourism industry impacting the wholesale, retail, trade, and services sectors positively.
- Infrastructure development may drive growth in the construction sector.
- Technological advancements could stimulate the transport and communication industry.
- Sustainable practices and innovation might lead to developments in the agriculture sector.
Top countries in GDP Composition by Sector
# | 6 Countries | Percent | Last Year | |
---|---|---|---|---|
1 | 1 Services | 35.56 | 2016 | |
2 | 2 Wholesale, retail trade, restaurants and hotels | 20.34 | 2016 | |
3 | 3 Transport, storage and communication | 14.75 | 2016 | |
4 | 4 Mining, Manufacturing, Utilities | 10 | 2016 | |
5 | 5 Construction | 9.93 | 2016 | |
6 | 6 Agriculture, hunting, forestry, fishing | 9.42 | 2016 |