Cape Verde’s balance of trade deficit improves by 7.31 pct in first half

1 August 2013

Cape Verde’s balance of trade deficit in the first half of the year improved by 7.31 percent by falling from 27.82 million contos in the same period of 2012 to 25.784 million contos, the West African archipelago’s National Statistics Institute (INE) said.

In the first six months of the year Cape Verde exported goods worth 2.447 million contos and imported goods worth 28.231 million contos, as compared to exports of 2.419 million contos and imports of 30.239 million contos in the same period of last year.

Compared to the same period of last year, the rate of coverage of imports improved by 0.7 percentage points in the first six months of the year.

In the second quarter of the year the country’s balance of trade deficit improved by 1.8 percent in annual terms with exports of 1.521 million escudos and imports of 15.453 million contos.

The foreign trade figures announced by INE showed that in the second quarter, re-exports rose by 28 percent and exports by 7.1 percent, whilst imports fell 1 percent against the same period of 2012. (macauhub)

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