Flag Cape Verde

Product Exports (2018): $115M, Rank 187 of 222

Exports Per Capita (2018): $212, Rank 26 of 219

Product Imports (2018): $893M, Rank 174 of 221

Imports Per Capita (2018): $1.64k, Rank 8 of 219

Service Exports (2017): $639M, Rank 114 of 139

Service Imports (2017): $327M, Rank 126 of 139

GDP (2018): $1.98B, CURRENT US$
Rank 171 of 196

GDP growth (2008 - 2018): 10.5%, CURRENT US$
Rank 142 of 196

GDP PC (2018): $3,635, CURRENT US$
Rank 127 of 196

GDP PC GROWTH (2008 - 2018): -2.31%, CURRENT US$
Rank 154 of 196

Overview: This page contains the latest international trade data for Cape Verde, including service trade data, and tariffs. In 2018 Cape Verde was the number 171 economy in the world in terms of GDP (current US$), the number 187 in total exports, and the number 174 in total imports. In 2018, Cape Verde exported $115M and imported $893M, resulting in a negative trade balance of -$777M. In 2018, Cape Verde's exports per capita were $212 and its imports per capita were $1.64k.

Trade: The top exports of Cape Verde are Processed Fish ($49.6M), Non-fillet Frozen Fish ($33.4M), Footwear Parts ($4.18M), Non-Knit Men's Suits ($4.09M), and Molluscs ($3.53M). The top imports of Cape Verde are Refined Petroleum ($75.8M), Cars ($24.9M), Delivery Trucks ($22.5M), Non-fillet Frozen Fish ($18.3M), and Cement ($17.4M).

Destinations: Cape Verde exports mostly to Spain ($70.9M), Portugal ($16.6M), Italy ($10.6M), United States ($4.13M), and India ($2.83M), and imports mostly from Portugal ($346M), Spain ($146M), China ($71.6M), Netherlands ($58.5M), and Belgium-Luxembourg ($44.8M).

Location: Cape Verde borders Gambia, Mauritania, and Senegal by sea.

Yearly Exports

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Top Export (2018): Processed Fish, $49.6M

Top Destination (2018): Spain, $70.9M

In 2018 Cape Verde exported a total of $115M, making it the number 187 exporter in the world. During the last five reported years the exports of Cape Verde have changed by -$19.9M from $135M in 2013 to $115M in 2018.

The most recent exports are led by Processed Fish ($49.6M), Non-fillet Frozen Fish ($33.4M), Footwear Parts ($4.18M), Non-Knit Men's Suits ($4.09M), and Molluscs ($3.53M). The most common destination for the exports of Cape Verde are Spain ($70.9M), Portugal ($16.6M), Italy ($10.6M), United States ($4.13M), and India ($2.83M).

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Yearly Imports

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Top Import (2018): Refined Petroleum, $75.8M

Top Origin (2018): Portugal, $346M

In 2018 Cape Verde imported $893M, making it the number 174 trade destination in the world. During the last five reported years the imports of Cape Verde changed by $89M from $804M in 2013 to $893M in 2018.

The most recent imports of Cape Verde are led by Refined Petroleum ($75.8M), Cars ($24.9M), Delivery Trucks ($22.5M), Non-fillet Frozen Fish ($18.3M), and Cement ($17.4M). The most common import partners for Cape Verde are Portugal ($346M), Spain ($146M), China ($71.6M), Netherlands ($58.5M), and Belgium-Luxembourg ($44.8M).

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Flow

Fastest Growing Export Markets (2017 - 2018)

Fastest Growing Import Markets (2017 - 2018)

Cape Verde Exports Services (2017): $639M

Cape Verde Imports Services (2017): $327M

In 2017, Cape Verde exported $639M worth of services. The top services exported by Cape Verde in 2017 were Personal travel ($417M), Air transport ($88M), Miscellaneous business, professional, and technical services ($52.9M), Telecommunications services ($24.5M), and Government services, n.i.e. ($24.2M).

The top services imported by Cape Verde in 2017 were Miscellaneous business, professional, and technical services ($108M), Personal travel ($63.5M), Sea transport ($60M), Air transport ($38.6M), and Telecommunications services ($12.4M).

Trade Forecasts

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This section shows forecasts for total product exports and imports for Cape Verde. The forecast is based in a long short-term memory model or LSTM constructed using yearly trade data.

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Tariffs by Product

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The top product import tariffs by their MFN Ad Valorem value for Cape Verde are Air gun pellets, parts of shotgun cartridges (50%) and Alcoholic liqueurs nes (50%).

Click any of the products in the bar chart to see the specific Ad Valorem Duty Rates by partner country.

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*The tariffs applied to imports for Cape Verde are:
136: Most Favoured Nation duty rate treatement

Economic Complexity

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Most Specialized Products by RCA Index

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Cape Verde has a high level of specialization in Processed Fish (441), Non-fillet Frozen Fish (203), Fishing and Hunting Equipment (102), Footwear Parts (77.9), and Molluscs (51.7). Specialization is measured using RCA, an index that takes the ratio between Cape Verde observed and expected exports in each product.

Most Complex Products by PCI

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The highest complexity exports of Cape Verde according to the product complexity index (PCI) are Book-binding machinery including book sewing machines (1.22), Articles for funfairs, table and parlour games (0.95), Articles of cement, concrete or artificial stone (0.67), Medical wadding, gauze, dressings etc (0.63), and Sanitary ware and parts thereof, of iron or steel (0.53). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Export Opportunities by Relatedness

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The top export opportunities for Cape Verde according to the relatedness index, are Crustaceans (0.079), Non-fillet Fresh Fish (0.071), Perfume Plants (0.062), Cocoa Beans (0.061), and Knit Women's Suits (0.06). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Cape Verde is not specialized in.

The product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since countries are more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products it is currently specialized in.

Diversification Frontier

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The Complexity-Relatedness diagram compares the risk and the strategic value of a country's potential export oppotunities. Relatedness is a predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower emissions.