Cape Verde recorded a trade deficit of 6578.60 CVE Million in June of 2021. source: Banco de Cabo Verde

Balance of Trade in Cape Verde averaged -5143.45 CVE Million from 1999 until 2021, 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. This page provides - Cape Verde Balance of Trade - actual values, historical data, forecast, chart, statistics, economic calendar and news. Cape Verde Balance of Trade - values, historical data and charts - was last updated on October of 2021.

Balance of Trade in Cape Verde is expected to be -5830.00 CVE Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Cape Verde Balance of Trade is projected to trend around -6660.00 CVE Million in 2022, according to our econometric models.

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Cape Verde Balance of Trade

Cape Verde Last Unit Reference Previous Highest Lowest
Balance of Trade -6578.60 CVE Million Jun/21 -5821.70 -1864.74 -27692.99
Current Account -7479.00 CVE Million Jun/21 -6996.30 3102.20 -11803.10
Current Account to GDP -15.60 percent of GDP Dec/20 0.30 3.04 -16.20
Imports 6874.80 CVE Million Jun/21 6295.10 32602.32 2004.13
Exports 296.30 CVE Million Jun/21 473.30 5233.00 37.30
Remittances 2373.60 CVE Million Jun/21 2234.60 2373.60 523.08
Capital Flows -3440.90 CVE Millions Mar/21 938.80 2517.80 -9432.47
Foreign Direct Investment 1886.60 CVE Million Dec/20 2183.90 8369.50 -488.40

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).