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flag Cape Verde Cape Verde: Trade Profile

Foreign Trade in Figures

The economy of Cape Verde is one of  Africa's most open after Botswana. Foreign trade represents 90% of the country's GDP. Cape Verde became a member of the WTO in 2008 and enjoys preferential access to American and European markets, as part of the framework of the African Growth and Opportunity Act (AGOA) and the treaties of Lome and Cotonou. The country has also signed a free-trade agreement with China. 

Cape Verde offers incentive policies to exporting companies in order to encourage the development of foreign trade in the country. 

The trade balance is structurally in deficit, a trend which should continue during the coming years.

Exports of Cape Verde are essentially garments, fresh fish and footwear. The main clients are Spain, Portugal and France. Cape Verde main imports are airplanes, diesel oil, vehicles, iron, steel and cement. Its main importing partners are Portugal, Netherlands and Spain.

 
Foreign Trade Indicators 20062007200820092010
Imports of Goods (million USD) 542750825709742
Exports of Goods (million USD) 2119323545
Imports of Services (million USD) 242285349304278
Exports of Services (million USD) 361468575471458
Imports of Goods and Services (Annual % Change) 24161213-
Exports of Goods and Services (Annual % Change) 33141312-
Trade Balance (million USD) -464-664-715-677-
Current Account (million USD) -83-198-205-154-
Foreign Trade (in % of GDP) 77818387-
Imports of Goods and Services (in % of GDP) 56596164-
Exports of Goods and Services (in % of GDP) 21212223-

Source: WTO - World Trade Organization ; World Bank - Last Available Data.

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Main Partner Countries

Main Customers
(% of Exports)
2010
Spain 68.3%
Portugal 24.9%
Brazil 1.5%
United States 1.5%
France 0.6%
See More Countries 3.1%
Main Suppliers
(% of Imports)
2010
Portugal 45.5%
Netherlands 13.5%
Spain 6.8%
Brazil 4.4%
China 4.3%
See More Countries 25.5%

Source: Comtrade, Last Available Data

Main Products

Main Exports
(% of Exports)
2010
Prepared or preserved fish; caviar and caviar...Prepared or preserved fish; caviar and caviar substitutes prepared from fish eggs 39.0%
Frozen fish (excl. fish fillets and other fish...Frozen fish (excl. fish fillets and other fish meat of heading 0304) 38.6%
Parts of footwear, incl. uppers whether or not...Parts of footwear, incl. uppers whether or not attached to soles other than outer soles; removable in-soles, heel cushions and similar articles; gaiters, leggings and similar articles, and parts thereof (excl. articles of asbestos) 9.0%
Men's or boys' suits, ensembles, jackets, blazers,...Men's or boys' suits, ensembles, jackets, blazers, trousers, bib and brace overalls, breeches and shorts (excl. knitted or crocheted, wind-jackets and similar articles, separate waistcoats, track suits, ski suits and swimwear) 3.4%
T-shirts, singlets and other vests, knitted or...T-shirts, singlets and other vests, knitted or crocheted 2.6%
See More Products 7.5%
Main Imports
(% of Imports)
2010
Petroleum oils and oils obtained from bituminous...Petroleum oils and oils obtained from bituminous minerals (excl. crude); preparations containing >= 70% by weight of petroleum oils or of oils obtained from bituminous minerals, these oils being the basic constituents of the preparations, n.e.s.; waste oils containing mainly petroleum or bituminous minerals 10.4%
Cement, incl. cement clinkers, whether or not...Cement, incl. cement clinkers, whether or not coloured 3.8%
RiceRice 3.4%
Automatic data processing machines and units...Automatic data processing machines and units thereof; magnetic or optical readers, machines for transcribing data onto data media in coded form and machines for processing such data, n.e.s. 2.5%
Milk and cream, concentrated or containing added...Milk and cream, concentrated or containing added sugar or other sweetening matter 2.2%
See More Products 77.7%

Source: Comtrade, Last Available Data

 

To go further, check out our service Import export flows

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Commercial Policy

Main International Economic Cooperation
Member of Economic Community of West African States (ECOWAS)

Member of African Union (AU)

Assessment of Commercial Policy
Country’s commercial policy
Average Customs Duty (Excluding Agricultural Products)
16.96%
 

List of tariffs and local taxes that apply to your product on our service Customs duties and local taxes

 
Useful Resources



National Organization of Intellectual Property
You can contact the General Directorate of Tourism, Industry and Commerce by Email.
 

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Learn more about How to Export to Cape Verde on Globaltrade.net, the Directory for International Trade Services.
 

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Last Updates: February 2012

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