Cape Verdean merchandise exports fell 37.4% in the first quarter compared to the same period in 2025, the country’s National Institute of Statistics (INE) announced on Wednesday (10).
Fish and canned goods account for the majority of exports, which fell by the equivalent of 7.5 million euros to a total of 12.5 million euros.
These fluctuations are typically related to seasonal fishing patterns and orders, with Spain, Italy, and Portugal among the main buyers.
Exports of goods represent only a small portion of Cape Verde’s total foreign sales, which are largely dominated by tourism-related services (not included in the report) that have been on a steady upward trend.
Also according to the foreign trade bulletin, imports of goods (originating mainly from Europe and dominated by fuel and consumer goods) decreased by 8.7% in the first quarter on a year-over-year basis.
On the other hand, re-exports increased by 32.3%.
“During the period under review, the trade deficit decreased by 7.4% and the coverage ratio fell by 1.4 percentage points,” it concluded.
Source: Lusa
