The Republic of Cabo Verde Export Data

Cabo Verde's Imports/Exports Overview and Domestic Market Analysis

Imports & Exports

• Top Trade Partners: Cabo Verde's main trading partners include Portugal, Spain, and the Netherlands, reflecting its historical ties and geographical proximity.

• Imports: The top 5 imported goods are food products, machinery, vehicles, pharmaceuticals, and fuels, accounting for a significant portion of the total imports.

• Exports: Major exports consist of fish, fruits, and vegetables, with fish alone representing a considerable share of total exports.

• Trade Deficit Analysis: Cabo Verde consistently faces a trade deficit, as imports far outweigh exports, a challenge exacerbated by the need for food and fuel imports.

• Trade Policy Snapshot: Cabo Verde's trade policy is geared towards diversification and reducing dependency on imports, with efforts to boost local production and export-oriented industries.

Cabo Verde's Market Condition

• Consumer Spending Trends: Consumer spending is stable but sensitive to external shocks, such as commodity price fluctuations, affecting daily necessities and imported goods.

• Interest Rates and Inflation: Inflation remains a concern, influenced by global commodity prices, while interest rates are managed to control inflation and promote economic stability.

• Supply Chain Dynamics: The supply chain is impacted by heavy reliance on imports, leading to vulnerability in times of global instability or increased shipping costs.

• Sectoral Performance: The tourism sector is a key performer, along with fisheries and agriculture, which are crucial for exports, while efforts are underway to strengthen the manufacturing sector.

Overall Outlook

Cabo Verde's economic outlook is cautiously optimistic, with a focus on sustainable tourism, renewable energy projects, and improving local industry capabilities to address the trade deficit and foster economic resilience.