Africa-Press – Cape verde. The National Statistics Institute (INE) announced today that provisional Foreign Trade data for the year 2023 indicates an increase in exports of around 12%, and 4.8% in imports, in relation to the year 2022.
According to a note from INE, provisional Foreign Trade data for the year 2023, there is a decrease in Re-exports of around 14.9% compared to the same period last year. In the period under review, the trade balance deficit increased by 4.4% and the coverage rate decreased by 0.4 percentage points (pp).
According to INE, the main results reveal that in Exports by Economic Zones, main customers and goods, in the year 2023, Cape Verde’s exports totaled 5,590 thousand contos, corresponding to a decrease of 574 thousand contos, that is, 11.5 % compared to the same period last year.
Europe, according to published results, continues to be Cape Verde’s main customer, absorbing around 94.1% of total exports. Spain leads the ranking of main customers in the European economic zone, representing 59.7% in 2023, increasing 5.0 pp compared to 2022.
The most exported products in 2023 were prepared and preserved products, which lead the ranking with 73.7%, clothing occupies second place with 9.5%, and footwear, which occupies third place with 5.7% .
With regard to Imports by Economic Zones, main suppliers and goods, imports in 2023 registered an increase of 4.8%, compared to the same period of the previous year. The European continent remained Cape Verde’s main supplier, with a weight of 68.6% of the total amount, compared to 67.8% last year, followed by Asia/Oceania with 14.9%, America with 12 .8%, Africa with 1.7% and the Rest of the World with 1.9%.
INE reported that Portugal leads among suppliers with 41.4% of the total, followed by Spain with 11.6%, the United States of America with 6.7% and China with 4.7% of total imports. The ten main imported products reached 54.2% of Cape Verde’s total imports, compared to the 54.8% achieved by these same products in the same period last year. The most imported products were: fuels, with a weight of 14.8%, and reactors and boilers, with 6.1%.
Provisional Foreign Trade data for the year 2023 also revealed that Imports by Major Categories of Goods, with the exception of Fuels, all categories evolved positively in relation to the previous year.
Consumer Goods continue to be the main economic category of goods imported by Cape Verde, with 44.7%, followed by Intermediate Goods, with 27.6%, Fuels with 14.7%, and Capital Goods with 13.0%. % of total imports, compared to 2022.
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