Cape Verde
2020 Product Exports | Imports: $83.4M | $1.12B, 195 of 226 | 171 of 226
2020 Per Capita Product Exports | Imports: $150 | $2.02k, 185 of 219 | 108 of 219
2020 Service Exports | Imports : $290M | $213M, 62 of 65 | 64 of 65
Overview In 2020 Cape Verde was the number 195 economy in the world in terms of total exports and the number 171 in total imports.
Exports The top exports of Cape Verde are Processed Fish ($36M), Non-fillet Frozen Fish ($19.2M), Molluscs ($4.11M), Footwear Parts ($2.63M), and Knit Men's Undergarments ($1.48M), exporting mostly to Spain ($52.7M), Portugal ($9.25M), Italy ($7.24M), United States ($4.76M), and Germany ($1.58M).
Imports The top imports of Cape Verde are Refined Petroleum ($320M), Delivery Trucks ($52.9M), Cars ($24.8M), Railway Cargo Containers ($23.2M), and Cement ($23.1M), importing mostly from Portugal ($447M), Netherlands ($144M), Spain ($102M), China ($81.5M), and Italy ($74.3M).
Location Cape Verde borders Gambia, Mauritania, and Senegal by sea.
Latest Trends
#permalink to sectionLatest Trade
#permalink to sectionThe following section uses the most recent trade data from partners of Cape Verde.
Disclaimer: data is presented based on availability and only countries that use the harmonized system are being shown.
*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.
Latest Data
#permalink to sectionThe data obtained is mirror data. The trade of countries that do not report current data can be reconstructed based on data reported by partner countries with current data available.
*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.
Historical Data
#permalink to sectionYearly Trade
#permalink to sectionTop Export (2020): Processed Fish, $36M
Top Destination (2020): Spain, $447M
In 2020, Cape Verde exported a total of $83.4M, making it the number 195 exporter in the world. During the last five reported years the exports of Cape Verde have changed by $199k from $83.2M in 2015 to $83.4M in 2020.
The most recent exports are led by Processed Fish ($36M), Non-fillet Frozen Fish ($19.2M), Molluscs ($4.11M), Footwear Parts ($2.63M), and Knit Men's Undergarments ($1.48M). The most common destination for the exports of Cape Verde are Spain ($52.7M), Portugal ($9.25M), Italy ($7.24M), United States ($4.76M), and Germany ($1.58M).
Market Growth
#permalink to sectionFastest Growing Export Markets (2019 - 2020)
- United States, $1.3M (+ 37.5%)
- France, $1.17M (+ 432%)
- Germany, $1.11M (+ 233%)
Fastest Growing Import Markets (2019 - 2020)
- Portugal, $105M (+ 30.7%)
- Italy, $53.9M (+ 265%)
- United States, $20.5M (+ 139%)
Service Trade
#permalink to sectionService Trade
#permalink to sectionCape Verde Exports Services (2020): $290M
Cape Verde Imports Services (2020): $213M
In 2020, Cape Verde exported $290M worth of services. The top services exported by Cape Verde in 2020 were Personal travel ($152M), Air transport ($42.2M), Government services, n.i.e. ($25.5M), Other business services ($24.9M), and Sea transport ($11M).
The top services imported by Cape Verde in 2020 were Other business services ($49.9M), Personal travel ($49.3M), Sea transport ($44.8M), Air transport ($20.1M), and Government services, n.i.e. ($13.8M).
Economic Complexity
#permalink to sectionMost Specialized Products by RCA Index
#permalink to sectionCape Verde has a high level of specialization in Processed Fish (384), Non-fillet Frozen Fish (167), Molluscs (90.8), Fishing and Hunting Equipment (79.7), and Footwear Parts (72.2). 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
#permalink to sectionThe highest complexity exports of Cape Verde according to the product complexity index (PCI) are Wind Instruments (1.38), Microscopes (1.2), Lifting Machinery (1.07), Rubber Belting (0.65), and Glass Fibers (0.53). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.
Export Opportunities by Relatedness
#permalink to sectionThe top export opportunities for Cape Verde according to the relatedness index, are Crustaceans (0.077), Cocoa Beans (0.073), Non-fillet Fresh Fish (0.073), Non-Knit Active Wear (0.069), and Non-Knit Men's Shirts (0.069). 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.
Product Space
#permalink to sectionThe 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 a country currently specializes in.
Diversification Frontier
#permalink to sectionThe Complexity-Relatedness diagram compares the risk vs strategic value of a country's potential export oppotunities. Relatedness is 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 greenhouse emissions.
