Overview In 2019 Cape Verde was the number 167 economy in the world in terms of GDP (current US$), the number 191 in total exports, the number 182 in total imports, the number 123 economy in terms of GDP per capita (current US$) and the number null most complex economy according to the Economic Complexity Index (ECI).

Exports The top exports of Cape Verde are Processed Fish ($40.6M), Non-fillet Frozen Fish ($22.6M), Molluscs ($4.2M), Footwear Parts ($3.34M), and Non-Knit Men's Suits ($3M), exporting mostly to Spain ($62.4M), Portugal ($13.2M), Italy ($7.51M), United States ($3.49M), and India ($1.99M).

Imports The top imports of Cape Verde are Refined Petroleum ($116M), Delivery Trucks ($37.7M), Coal Tar Oil ($30.7M), Cars ($24.9M), and Rice ($19.8M), importing mostly from Portugal ($338M), Netherlands ($152M), Spain ($103M), China ($59.5M), and Belgium ($39M).

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

Historical Data

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Yearly Exports

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Top Export (2019): Processed Fish, $40.6M

Top Destination (2019): Spain, $62.4M

In 2019, Cape Verde exported a total of $95.5M, making it the number 191 exporter in the world. During the last five reported years the exports of Cape Verde have changed by -$16.8M from $112M in 2014 to $95.5M in 2019.

The most recent exports are led by Processed Fish ($40.6M), Non-fillet Frozen Fish ($22.6M), Molluscs ($4.2M), Footwear Parts ($3.34M), and Non-Knit Men's Suits ($3M). The most common destination for the exports of Cape Verde are Spain ($62.4M), Portugal ($13.2M), Italy ($7.51M), United States ($3.49M), and India ($1.99M).

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Yearly Imports

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Top Import (2019): Refined Petroleum, $116M

Top Origin (2019): Portugal, $338M

In 2019 Cape Verde imported $930M, making it the number 182 trade destination in the world. During the last five reported years the imports of Cape Verde changed by $117M from $813M in 2014 to $930M in 2019.

The most recent imports of Cape Verde are led by Refined Petroleum ($116M), Delivery Trucks ($37.7M), Coal Tar Oil ($30.7M), Cars ($24.9M), and Rice ($19.8M). The most common import partners for Cape Verde are Portugal ($338M), Netherlands ($152M), Spain ($103M), China ($59.5M), and Belgium ($39M).

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Flow

Fastest Growing Export Markets (2018 - 2019)

Fastest Growing Import Markets (2018 - 2019)

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).

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.

*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 (429), Non-fillet Frozen Fish (167), Fishing and Hunting Equipment (86.4), Footwear Parts (74.4), and Molluscs (73.4). 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 Hand-operated spanners, wrenches and sockets (1.7), Articles of stone or other mineral substances, nes (1.08), Diodes, transistors, semi-conductors, etc (0.99), Spark-ignition internal combustion engines (0.92), and Conveyor and similar belts or belting of rubber (0.78). 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 Non-fillet Fresh Fish (0.076), Gold (0.064), Processed Crustaceans (0.063), Tropical Fruits (0.062), and Perfume Plants (0.061). 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.

Relatedness Space

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This network shows the products most related to the production structure of Cape Verde. These are products that tend to be co-exported with the products that Cape Verde exports. Higher relatedness values ​​indicate greater knowledge, which predicts a greater probability of exporting that product in the future.

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.