Africa-Press – Cape verde. Cape Verde’s exports decreased by 14.3% in November this year, compared to the same month last year, the same happening with imports, which fell by 12.7%, the National Statistics Institute (INE) announced today.
According to provisional data from Foreign Trade, in November 2023 Cape Verde’s exports totaled 380 million escudos (3.4 million euros), corresponding to a decrease of 63 million escudos (571 thousand euros), which represents -14.3% compared to the same month last year.
In the month under review, Europe continued to be Cape Verde’s main customer, absorbing 87% of total Cape Verdean exports, while, at country level, Spain led the ranking of Cape Verde’s main customers in the European economic zone, representing (55.2%) in the month of November 2023, having decreased by 13.5 percentage points compared to the same month of 2022.
Portugal occupies second place in the structure of exports (18.7%), increasing 5.3 percentage points, while Italy appears in third place with an increase of 1.8 percentage points (10.5% to 12.3%) and , the United States, in fourth place (9.0%), having increased by 4.3 percentage points.
In the month of November 2023, INE found that the most exported products by Cape Verde were prepared and preserved products (60.4%), decreasing 11.9 percentage points, and clothing, which occupies second place, with (10 .5%), increasing 1.9 percentage points.
Fish, crustaceans and molluscs occupy third position, with (9.2%), increasing 1.5 percentage points compared to the same month of the previous year.
INE also states that these three products represented, in the month under analysis, 80.2% of Cape Verde’s total exports, decreasing 8.4 percentage points compared to what was recorded (88.6%) in the same month of 2022.
Regarding imports, they also decreased by 12.7% in November 2023, according to INE data.
The European continent is Cape Verde’s main supplier, with a weight of 66.6% of the total amount (compared to 68.1% in November last year), followed by Asia/Oceania (20.1%), America (9.6%), Africa (1.7%) and the rest of the world (1.9%).
Portugal leads among Cape Verde’s suppliers, with 45.4% of total imports, (with an increase of 3.5 percentage points compared to the same month of the previous year), followed by Saudi Arabia (12.3%), from Spain (9.1%), Brazil (5.0%), China (4.5%) and the Netherlands (3.7%).
The ten main imported products reached 53.6% of Cape Verde’s total imports (compared to the 58.3% achieved by these same products in the same month).
The most imported products were fuels (21.6%), motor vehicles (5.4%), reactors and boilers (4.6%), iron and articles thereof (3.8%), machines and engines (3. 5%), and milk and dairy products (3.3%).
For More News And Analysis About Cape verde Follow Africa-Press
