Cape Verde recorded a trade deficit of 4770.50 CVE Million in February of 2020.

Balance of Trade in Cape Verde averaged -5112.33 CVE Million from 1999 until 2020, 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 June of 2020.

Balance of Trade in Cape Verde is expected to be -6370.00 CVE Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Balance of Trade in Cape Verde to stand at -5830.00 in 12 months time. In the long-term, the Cape Verde Balance of Trade is projected to trend around -6660.00 CVE Million in 2021, according to our econometric models.

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Cape Verde Balance of Trade

Actual Previous Highest Lowest Dates Unit Frequency
-4770.50 -5782.40 -1864.74 -27692.99 1999 - 2020 CVE Million Monthly

Cape Verde Trade Last Previous Highest Lowest Unit
Balance of Trade -4770.50 -5782.40 -1864.74 -27692.99 CVE Million [+]
Current Account 1290.30 -2059.90 2967.50 -11803.10 CVE Million [+]
Current Account to GDP -0.20 -4.50 3.04 -16.20 percent [+]
Imports 5185.60 6211.50 32602.32 2004.13 CVE Million [+]
Exports 415.10 429.20 4909.34 37.30 CVE Million [+]
Remittances 2169.30 1582.70 2169.30 523.08 CVE Million [+]
Tourist Arrivals 224049.00 181664.00 312880.00 71246.00 [+]
Foreign Direct Investment 2626.70 3591.10 8369.50 -488.40 CVE Million [+]
Capital Flows -5726.50 -7203.60 2517.80 -9432.47 CVE Millions [+]

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).