Cape Verde’s trade deficit improved 9.8% from January to September

11 November 2013

Cape Verde’s trade deficit fell by 9.8 percent from January to September to 39.649 billion escudos (US$475.5 million), indicate figures released on Friday by the island country’s National Statistics Institute.

During the nine-month period, Cape Verde exported goods worth 4.126 billion escudos, up 11.3 percent year-on-year, and imported merchandise worth 43.776 billion escudos, down 8.2% year-on-year.

The export/import coverage rate thus improved by 2 percentage points, from 7.8 percent in 2012 to 9.8 percent from January thru September this year.

In the third quarter the trade deficit retreated 14.2 percent to 13.865 billion escudos, resulting from exports amounting to 1.679 billion escudos and imports worth 15.544 billion escudos.

By economic zones, Cape Verde’s foreign trade in the third quarter was almost entirely concentrated in Europe, with a 96.5 percent share. Africa (3.1 percent) and America (0.3 percent) accounted for the rest. (macauhub)