Industrial production increased by 6.1% in Cape Verde in the third quarter – INE

By Ricardo Pedro

The Cape Verdean industrial production increased by 6.1% in the third quarter of this year, compared to the same period last year, according to data released today by the National Institute of Statistics (INE).

According to short-term industrial indicators, between July and September industrial production registered a decrease of 12.5 percentage points in relation to the previous quarter and in quarterly terms it registered a decrease of 3.2%.

In the period under review, the manufacturing industry and electricity, gas, steam, hot and cold water and cold air sections made the most relevant contributions to the change in the aggregate index, concluded INE, indicating that the remaining sections made a negative contribution for the variation of the index.

As for industrial production prices, they increased by 20.8% in the third quarter of 2022 compared to the same quarter of 2022, having been influenced by the grouping of the electricity, gas, steam, hot and cold water and cold air and manufacturing industries.

In turn, the turnover index increased by 29.7%, compared to the previous quarter, according to the Cape Verdean institute.

“In extractive industries, there was a negative change in turnover, of 53.9%. Turnover in the manufacturing industries section recorded a change of 8.2% and the electricity, gas, steam, hot and cold water and cold air and water treatment and distribution sections recorded year-on-year changes of 70.5% and 11.7%, respectively”, described INE.

In the third quarter of this year, the respective year-on-year changes in employment indices and hours worked in industry were -0.4% and -0.1%.

In turn, wages increased by 3.6%. In this period, extractive industries and manufacturing industries registered changes in the remuneration index of -13.5% and 1.4%. The sections of electricity, gas, steam, hot and cold water and cold air and water capture, treatment and distribution, registered variations of 6% and 7.6% respectively”, reads the INE note.

With information from Lusa/MSN

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