Cape Verde: Exports, percent of GDP
* indicates monthly or quarterly data series
Cape Verde |
Exports of goods and services as percent of GDP |
---|---|
Latest value | 39.72 |
Year | 2023 |
Measure | percent |
Data availability | 1980 - 2023 |
Average | 28.30 |
Min - Max | 13.26 - 46.71 |
Source | The World Bank |
The latest value from 2023 is 39.72 percent, a decline from 39.73 percent in 2022. In comparison, the world average is 45.76 percent, based on data from 138 countries. Historically, the average for Cape Verde from 1980 to 2023 is 28.3 percent. The minimum value, 13.26 percent, was reached in 1993 while the maximum of 46.71 percent was recorded in 2019.
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* indicates monthly or quarterly data series
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The exports of Cape Verde and other countries are calculated as the total amount of goods and services produced at home and sold abroad. Exports are often reported as percent of GDP so that we can evaluate their magnitude relative to the size of the economy.
If exports are about 15 percent or less of GDP the economy is considered relatively closed as only 15 percent of its products are sold internationally. That, for example, applies to the U.S. In contrast, many small European countries export over 40 percent of their production. They are considered more open to international trade.
If exports are about 15 percent or less of GDP the economy is considered relatively closed as only 15 percent of its products are sold internationally. That, for example, applies to the U.S. In contrast, many small European countries export over 40 percent of their production. They are considered more open to international trade.
Definition: Exports of goods and services represent the value of all goods and other market services provided to the rest of the world. They include the value of merchandise, freight, insurance, transport, travel, royalties, license fees, and other services, such as communication, construction, financial, information, business, personal, and government services. They exclude compensation of employees and investment income (formerly called factor services) and transfer payments.
Selected articles from our guide:
What factors determine the exchange rates
International lending and sovereign debt
All articles
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 | 73.40 | 6/2024 | billion |