Cabo Verde’s trade deficit widens in Q3

27 October 2014

Cabo Verde’s (Cape Verde’s) trade deficit posted an annual increase of 3.3 percent from January to September and 13.8 percent in the third quarter, according to the archipelago’s National Statistics Institute (INE).

In the first nine months of 2014, Cabo Verde had a trade deficit of 40.952 billion escudos, compared with 39.649 billion escudos in the same period of 2013.

The deficit in the third quarter totalled 15.776 million escudos compared with 13.865 billion in the same quarter of 2013.

From January to September Cabo Verde imported goods costing 46.109 billion escudos, up 5.3 percent year on year, but exported goods worth just 2.326 billion escudos.

In the third quarter imports reached 18.102 billion escudos, a year on year increase of 16.5 percent, with exports increasing by 38.5 percent to 2.326 billion escudos.

The rate of coverage of imports by exports at the end of the third quarter stood at 11.2 percent, an increase of 18.7 percent compared to 9.4 percent a year earlier. (macauhub/CV)