Cape Verde: Trade balance, percent of GDP
* indicates monthly or quarterly data series
| Cape Verde |
Trade balance as percent of GDP |
|---|---|
| Latest value | -14.42 |
| Year | 2023 |
| Measure | percent |
| Data availability | 1980 - 2023 |
| Average | -33.41 |
| Min - Max | -57.83 - -10.19 |
| Source | The World Bank |
The latest value from 2023 is -14.42 percent, an increase from -16.51 percent in 2022. In comparison, the world average is -3.03 percent, based on data from 137 countries. Historically, the average for Cape Verde from 1980 to 2023 is -33.41 percent. The minimum value, -57.83 percent, was reached in 1986 while the maximum of -10.19 percent was recorded in 2019.
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* indicates monthly or quarterly data series
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The trade balance for Cape Verde and other countries is calculated as the difference between the exports and imports of goods and services, as percent of GDP. A positive number means trade surplus and a negative number means trade deficit.
Definition: External balance on goods and services (formerly resource balance) equals exports of goods and services minus imports of goods and services (previously nonfactor services).
Selected articles from our guide:
What factors determine the exchange rates
International lending and sovereign debt
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| Related indicators | Latest | Reference | Measure |
|---|---|---|---|
| Terms of trade | 95.69 | 2021 | percent |
| Trade openness | 93.87 | 2023 | percent |
| Financial openness | 2.299 | 2021 | index points |
| Exports, percent of GDP | 39.72 | 2023 | percent |
| Exports, billion dollars | 1.03 | 2023 | billion U.S. dollars |
| Growth of exports | 4.88 | 2023 | percent |
| Imports, percent of GDP | 54.14 | 2023 | percent |
| Imports, billion dollars | 1.40 | 2023 | billion U.S. dollars |
| Foreign Direct Investment, percent of GDP | 6.15 | 2023 | percent |
| Foreign Direct Investment, billion dollars | 0.12 | 2022 | billion U.S. dollars |
| Portfolio investment inflows, equities | 0.00 | 2023 | million dollars (current) |
| Current account, percent of GDP | -6.10 | 2023 | percent |
| Current account, in dollars | -0.08 | 2023 | billion U.S. dollars |
| Trade balance, percent of GDP | -14.42 | 2023 | percent |
| Trade balance, in dollars | -0.47 | 2023 | billion U.S. dollars |
| Reserves | 0.82 | 2023 | billion U.S. dollars |
| Remittances, percent of GDP | 12.24 | 2023 | percent |
| Remittances | 316.72 | 2023 | million U.S. dollars |
| Net errors and omissions | -20.44 | 2023 | million USD |
| External debt | 91.49 | 2022 | percent |
| Short-term external debt | 0.00 | 2022 | percent |
| Short-term debt to reserves | 0.00 | 2022 | percent |
| Foreign exchange reserves | 68.93 | 8/2024 | billion |