Praia, Feb. 20, 2025 (Lusa) - Cabo Verde's exports grew by 40.6% in 2024 compared to the previous year, according to figures released on Thursday by the National Statistics Institute (INE) regarding the sale of goods abroad.

The increase was fuelled by the sale of prepared and tinned fish, outstripping the percentage increase in imports (up by 2% over the same period), although the absolute values on each side of the balance are very different: imports cost 24 times more than the value of exports.

Cabo Verde's imports in 2024 totalled 190 billion escudos (€1.7 billion), while exports were worth around 8 billion escudos (€72 million), reflecting the economy's dependence on foreign countries.

In the period under review, the trade deficit increased by 0.8%.

The country's profile remains the same: fish preparations and preserves account for 79% of all products sent abroad (6.1 percentage points more than in 2023), followed by clothing and footwear, with shares of 7% and 3.5% respectively.

Europe continues to be the main customer, absorbing 94.7% of total exports, with Spain leading the way, accounting for almost two thirds of the total, thanks to the purchase of fish and tinned food, followed by Italy (15.7%) and Portugal (11.6%).

On the import side, the European continent continues to grow as Cabo Verde's main supplier, accounting for almost two thirds, followed by Asia and Oceania as a whole (25.9%).

Portugal leads among Cabo Verde's suppliers (30.7%), followed by Spain (12.1%) and India (with 8.1%).

LFO/ADB // ADB.

Lusa