Cabo Verde experienced a 32.3% increase in exports in the second quarter of 2023, reaching a total of €15.2 million, a €3.7 (US$4.1) million rise from the same period in 2022, according to data from the National Institute of Statistics (INE).
Meanwhile, the island nation’s imports slightly dropped by 2.6%.
In the reported quarter, Europe remained Cabo Verde’s primary trading partner, accounting for 93.6% of total exports, marking a 31.4% increase.
Exports to the US rose by 34.6%, and to Africa by a substantial 286%, though Africa’s share remains relatively small at 0.7%.
In terms of individual countries, Spain, within the European economic zone, was the archipelago’s largest buyer, responsible for 53.8% of total exports in Q2 2023.
Italy followed with 22.1%, Portugal with 16.8%, and the United States in fourth place, contributing 5.1%.
The top three exported products from Cabo Verde between April and June were prepared foods and preserves (75.5%), clothing (9.5%), and footwear (5.1%).