The trade deficit in Cape Verde widened to CVE 5049.6 million in February 2019 from CVE 4122.3 million in the same month a year ago. Imports surged 21.5 percent to CVE 5421.6 million, fuelled by purchases of consumption goods (20.7 percent) and intermediate goods (50.6 percent). Conversely, imports declined for capital goods (-1.2 percent), of which agricultural machinery (-78.7 percent); boats (-43.4 percent); and fuels (-6.1 percent), mostly fuel-oil (-47.3 percent). Meantime, exports rose at a slower 4.5 percent to CVE 372 million, as sales of traditional products grew 10.5 percent, namely frozen fish (675.6 percent) while manufactured ones fell 6.5 percent, of which clothing (-19.4 percent). Balance of Trade in Cape Verde averaged -5056.31 CVE Million from 1999 until 2019, reaching an all time high of -1864.74 CVE Million in February of 2004 and a record low of -27692.99 CVE Million in December of 2002.

Balance of Trade in Cape Verde is expected to be -5781.07 CVE Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Balance of Trade in Cape Verde to stand at -5733.90 in 12 months time. In the long-term, the Cape Verde Balance of Trade is projected to trend around -5712.13 CVE Million in 2020, according to our econometric models.

Cape Verde Balance of Trade
Forecast Data Chart
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Cape Verde Trade Last Previous Highest Lowest Unit
Balance of Trade -5049.60 -6197.60 -1864.74 -27692.99 CVE Million [+]
Current Account -1054.97 -5079.51 1350.56 -11803.10 CVE Million [+]
Current Account to GDP -4.50 -6.40 3.04 -16.20 percent [+]
Imports 5421.60 6526.30 32602.32 2004.13 CVE Million [+]
Exports 372.00 328.70 4909.34 37.30 CVE Million [+]
Remittances 1680.20 1968.20 2161.00 720.30 CVE Million [+]
Tourist Arrivals 212010.00 170166.00 312880.00 71246.00 [+]
Foreign Direct Investment 2113.40 1984.40 8369.50 -488.40 CVE Million [+]
Capital Flows -5779.11 469.01 2534.34 -9432.47 CVE Millions [+]

Exports by Country  |   Exports by Category  |   Imports by Country  |   Imports by Category

Cape Verde Balance of Trade

Cape Verde runs systemic trade deficits due to small export volume. The country’s main exports are fish (75 percent of total exports) and clothing (10 percent). Cape Verde is dependent on imports for fuel, food and machinery. Cape Verde main trading partners are Portugal (10 percent of total exports and 57 percent of imports) and Spain (86 percent of exports and 5 percent of imports). This page provides - Cape Verde Balance of Trade - actual values, historical data, forecast, chart, statistics, economic calendar and news. Cape Verde Balance of Trade - actual data, historical chart and calendar of releases - was last updated on June of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
-5049.60 -6197.60 -1864.74 -27692.99 1999 - 2019 CVE Million Monthly

Country Last Previous
Argentina 1131.00 Apr/19
Australia 4871.00 Apr/19
Brazil 6422.00 May/19
Canada -966.20 Apr/19
China 416.58 May/19
Euro Area 15671.60 Apr/19
France -4981.00 Apr/19
Germany 17900.00 Apr/19
India -15360.00 May/19
Indonesia -2501.90 Apr/19
Italy 2884.57 Apr/19
Japan -967.11 May/19
Mexico 1370.00 Apr/19
Netherlands 4154.00 Apr/19
Russia 13705.00 Apr/19
Saudi Arabia 180059.00 Dec/18
Singapore 3962.64 May/19
South Africa -3427.45 Apr/19
South Korea 2271.00 May/19
Spain -2352600.00 Mar/19
Switzerland 1906.00 Apr/19
Turkey -2982.01 Apr/19
United Kingdom -2740.00 Apr/19
United States -50791.00 Apr/19