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Cape Verde: Sea, especially tourism, accounts for a fifth of GDP

Economic activities related to the sea account for around a fifth of the wealth produced in Cabo Verde, especially those linked to tourism, according to information published by the National Statistics Institute (INE) on Wednesday.

“The gross domestic product (GDP) of the maritime economy reached 20.1% of the national GDP in 2023, an increase of two percentage points compared to 2022,” reads the statement on the Maritime Satellite Account.

According to the document, “the recreation, sport, culture and tourism group [of activities] made the largest contribution to national production, corresponding to 10.3% and 12.0% of the national total in 2022 and 2023, respectively”.

This was followed by activities related to Porto and logistics and, in third place, fishing and fish processing. In terms of employment, maritime activities linked to tourism also dominate, followed by fishing and processing.

The Cabo Verde Sea Satellite Account aims to publicise the importance of the sea to the total economy, a project funded by Spanish Cooperation and supported by Portugal’s INE and the Canary Islands Statistics Institute (ISTAC).

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