Africa-Press – Cape verde. In the 2nd quarter of 2024, exports increased by 17.4% and imports increased by 14.1%, according to provisional Foreign Trade data released this Wednesday, 7th, by the National Institute of Statistics (INE).
According to INE, in the 2nd quarter of 2024, Cape Verde’s exports totaled 1,986 thousand contos, corresponding to a significant increase of 294 thousand contos (17.4%), compared to the same period last year.
Europe continues to be Cape Verde’s main customer, absorbing 94.2% of total national exports. Spain leads the ranking of Cape Verde’s main customers in the European economic zone, representing (60.5%) in the 2nd quarter of 2024, having increased by 6.8 pp compared to the same quarter of 2023.
Italy ranks second in the export structure, with (19.9%), decreasing by 2.1 pp compared to the same quarter of the previous year. Furthermore, in the period under analysis, Portugal, in third place, recorded a decrease of 3.8 pp (16.9% to 13.1%), and the United States, in fourth position, also had a decrease of 0.4 pp.
In the 2nd quarter of 2024, prepared and preserved fish lead the ranking with (82.8%), increasing 7.6 pp, clothing occupies second place with (8.2%), decreasing 1.2 pp, and footwear, third position, with (4.0%) compared to the same quarter of the previous year.
The same source indicates that these three products represented, in the quarter under analysis, 94.9% of Cape Verde’s total exports, having increased by 5.2 pp compared to that recorded (89.7%) in the same quarter of 2023.
Regarding imports by Economic Zones, main suppliers and goods, the INE shows that in the 2nd quarter of 2024, they totaled 48,561 thousand contos, corresponding to an increase of 6,005 thousand contos (14.1%), compared to the same quarter of 2023.
The European continent continues to be Cape Verde’s main supplier, accounting for 64.8% of the total amount (compared to 59.5% in the 2nd quarter of last year), followed by Asia/Oceania (26.0%), Africa (4.3%), America (4.0%), and the Rest of the World (0.9%);
Portugal leads among Cape Verde’s suppliers, with 26.4% of total imports (a decrease of 3.7 pp compared to the same quarter of the previous year), followed by Spain, in second place, with 19.5% and India, in third place, with 17.9%.
The ten main imported products accounted for 71.6% (4.7 pp) of the total amount of imports from Cape Verde (compared to the 68.1% achieved by these same products in the same quarter of the previous year). The most imported products were fuels (49.5%), reactors and boilers (4.4%) and motor vehicles (3.7%).
Regarding imports by Major Categories of Goods, the INE indicates that, in the 2nd quarter of 2024, intermediate goods (-6.4%) evolved negatively. Consumer goods (5.7%), capital goods (24.6%) and fuels (26.6%) evolved in the opposite direction, in relation to the same quarter of 2023;
Fuels (49.5%) are the main economic category of goods imported by Cabo Verde. Next come consumer goods, with (26.9%), intermediate goods, with (15.6%), and capital goods, with (8.0%) recorded in the 2nd quarter of 2024, compared to the same quarter of the previous year.
For More News And Analysis About Cape verde Follow Africa-Press
