Africa-Press – Cape verde. Provisional data on Foreign Trade for the month of November 2022, indicate a decrease in Exports of around 5.4%, compared to the month of November 2021, translating into less PTE 25 thousand.
Data from the National Institute of Statistics (INE) also show that, in the period under analysis, the trade balance deficit increased by 38.6% and the coverage rate decreased by 2.1 percentage points.
With regard to Exports by Economic Zones, main customers and goods, in November 2022, Cape Verde’s exports totaled PTE 444 thousand, corresponding to a decrease of PTE 25 thousand (-5.4%), compared to the same month of 2021.
Europe continues to be Cape Verde’s main customer, absorbing around 95.0% of total Cape Verdean exports, with Spain leading the ranking of the main national customers in the European economic zone, representing 68.7% of the total in month of November 2022.
Then comes Portugal in second place, with 13.4%, followed by Italy with 10.5% and the United States in fourth place, with 4.7%.
In November 2022, the products most exported by Cape Verde were Prepared and canned fish, representing 72.3% of the total, followed by clothing with 8.6%, and fish, crustaceans and molluscs, in third position, increasing 6.3 pp (1.3% to 7.7%).
Imports by Economic Zone, main suppliers and goods
Europe continues to be Cape Verde’s main supplier, accounting for 68.1% of the total amount, against 73.3% in November last year, followed by Asia/Oceania with 20.1%, America with 7.3%, Africa with 2.9% and the Rest of the World with 1.6%.
Portugal leads among Cape Verde suppliers, with 41.9% of the total, but with 9.9 pp lower compared to the same month of 2021, followed by Spain, India, Belgium and China, with 9.3% respectively , 9.3%, 8.0% and 6.4% of total imports.
the most imported
Also according to INE, the ten main imported products reached 60.3% of the total amount of imports from Cape Verde, against 50.8% achieved by these same products in the same month of 2021.
The most imported products were fuels with 22.2%, reactors and boilers 7.8%, machinery and engines 6.3%, meat and edible offal 4.2% and motor vehicles 4.1%.
Imports by Major Goods Categories
With regard to imports by large categories of goods, data show that, in November 2022, all group categories evolved positively in relation to the same month of 2021, and in consumer goods it was 25, 3%, intermediate goods 22.1%, capital goods 48.8% and fuels 80.3%.
Consumer Goods continue to be the main economic category of goods imported by Cape Verde, with a weight of 42.8%, followed by Intermediate Goods with 25.4%, Fuels with a weight of 22.2% and Capital Goods with 9.7% of total imports, when compared to November 2021.
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