Cabo Verde-Portugal Bilateral Trade Analysis 2023
Complete trade statistics: $542.59M total volume •Cabo Verde deficit: $511.05M
Cabo Verde → Portugal
$15.77M
Exports (2023)
Portugal → Cabo Verde
$526.82M
Imports (2023)
Trade Balance
$511.05M
Deficit for Cabo Verde
Total Trade
$542.59M
Combined Volume
Trade Flow Visualization
Direct trade relationship between Cabo Verde and Portugal. Green line shows exports from Cabo Verde, red line shows imports.
Detailed Product Trade Analysis
Comprehensive breakdown of trade flows by product category, revealing the specialized nature of the Cabo Verde-Portugal commercial relationship and competitive positioning in global markets.
Cabo Verde → Portugal Exports
Export Market Intelligence
🎯 Strategic Export Focus
Cabo Verde's export portfolio to Portugal demonstrates strategic specialization, with footwear: parts, uppers and parts thereof, other than stiffeners representing a key competitive advantage in this bilateral market.
Portugal → Cabo Verde Imports
Import Dependency Profile
📦 Import Strategy Analysis
Cabo Verde's import pattern from Portugal reveals significant dependencyin petroleum oils and oils from bituminous minerals, not crude: preparations n.e.c. containing by weight 70% or more of petroleum oils or oils from bituminous minerals: these being the basic constituents of the preparations: waste oils, highlighting complementary economic structures and potential supply chain optimization opportunities.
Competitive Trade Position Analysis
Market Leadership
Cabo Verde demonstrates competitive strength in exportingfootwear: parts, uppers and parts thereof, other than stiffeners to Portugal, leveraging comparative advantages.
Trade Complementarity
The bilateral relationship showsmoderatecomplementarity, with each country specializing in different sectors.
Growth Potential
The $542.59M trade volume indicates substantial economic integration with room for expansion in emerging sectors.
Executive Summary: Cabo Verde-Portugal Trade Relationship
Key Trade Highlights 2023
- Total Trade Volume: $542.59 millionrepresenting a significant bilateral economic relationship
- Trade Balance: Cabo Verde maintains a deficit of $511.05 million
- Export Focus: Cabo Verde's primary exports include footwear: parts, uppers and parts thereof, other than stiffeners, fishing tackle n.e.c., butterfly nets, decoy birds (other than those of heading no. 9208 or 9705) and similar hunting or shooting requisites, underpants and briefs: men's or boys', of man-made fibres, knitted or crocheted
- Import Dependencies: Key imports from Portugal include petroleum oils and oils from bituminous minerals, not crude: preparations n.e.c. containing by weight 70% or more of petroleum oils or oils from bituminous minerals: these being the basic constituents of the preparations: waste oils, cement: portland, other than white, whether or not artificially coloured, containers: (including containers for transport of fluids) specially designed and equipped for carriage by one or more modes of transport
Strategic Trade Indicators
📈 Market Position: This bilateral trade relationship represents an important regional trade partnerships, with complementary economic strengths driving sustained commercial exchange.
Historical Trade Analysis & Economic Context
Trade Evolution Timeline
2019-2023: Recent Trends
Current trade volume of $542.59M represents the culmination of evolving bilateral commercial relationships, influenced by global supply chain shifts and changing economic priorities.
2015-2019: Growth Period
Sustained expansion in bilateral trade driven by complementary economic structures, with Cabo Verde leveraging its comparative advantages in footwear: parts, uppers and parts thereof, other than stiffeners.
2010-2015: Foundation Building
Establishment of modern trade frameworks and reduction of barriers, facilitating increased commercial exchange and investment flows between the two economies.
Pre-2010: Early Development
Initial stages of bilateral trade relationship development, with focus on traditional export-import patterns and gradual market integration.
Key Economic Drivers
Comparative Advantage
Cabo Verde's specialization in footwear: parts, uppers and parts thereof, other than stiffenerscomplements Portugal's demand patterns, creating natural trade synergies.
Supply Chain Integration
Deep integration in global value chains has strengthened bilateral linkages, particularly in petroleum oils and oils from bituminous minerals, not crude: preparations n.e.c. containing by weight 70% or more of petroleum oils or oils from bituminous minerals: these being the basic constituents of the preparations: waste oils.
Market Access & Trade Policy
Favorable trade agreements and market access conditions have facilitated the growth of this $542.59M bilateral relationship.
Trade Pattern Insights
Trade Relationship Outlook
The $542.59M bilateral trade volume positions this relationship for continued growth, supported by technological advancement, evolving consumer preferences, and strengthening economic ties. Key opportunities lie in expanding cooperation in emerging sectors while managing potential supply chain vulnerabilities.
Economic Impact & Strategic Outlook
Economic Impact Assessment
Trade Volume Impact
The $542.59 million bilateral trade volume represents a important trade relationshipfor both economies.
Industrial Integration
Trade flows in footwear: parts, uppers and parts thereof, other than stiffeners and petroleum oils and oils from bituminous minerals, not crude: preparations n.e.c. containing by weight 70% or more of petroleum oils or oils from bituminous minerals: these being the basic constituents of the preparations: waste oils demonstrate deep industrial linkages and supply chain integration.
Trade Balance Effects
Cabo Verde's trade deficit of $511.05 million impacts its overall economic position in this bilateral relationship.
Strategic Future Outlook
🚀Growth Opportunities
⚠️Risk Factors
🎯Strategic Recommendations
- Strengthen cooperation in high-value sectors beyond current trade patterns
- Develop alternative supply chains to reduce dependency risks
- Explore joint ventures in emerging technology sectors
- Enhance trade facilitation and reduce transaction costs
Market Position & Competitive Summary
The bilateral trade relationship between Cabo Verde and Portugal represents a total trade volume of $542.59 million in 2023. This partnership demonstrates an unfavorable trade balance for Cabo Verde, with imports exceeding exportsby $511.05 million.
Export Strengths
Cabo Verde's exports to Portugal total $15.77 million, with competitive advantages in footwear: parts, uppers and parts thereof, other than stiffeners, representing $3.15M or20.0% of bilateral exports.
Import Dependencies
Imports from Portugal amount to $526.82 million, highlighting economic interdependence in petroleum oils and oils from bituminous minerals, not crude: preparations n.e.c. containing by weight 70% or more of petroleum oils or oils from bituminous minerals: these being the basic constituents of the preparations: waste oils, with Petroleum oils and oils from bituminous minerals, not crude: preparations n.e.c. containing by weight 70% or more of petroleum oils or oils from bituminous minerals: these being the basic constituents of the preparations: waste oils comprising22.9% of total imports.
The trade relationship reflects broader economic patterns and comparative advantages. The trade deficit indicates Cabo Verde's strategic sourcing from Portugal. This partnership is characterized by complementary trade flows, with each country specializing in different product categories based on their respective economic strengths, industrial capabilities, and position in global value chains.
Download Bilateral Trade Data
Access detailed trade data between Cabo Verde and Portugal in multiple formats.
Data Source: CEPII BACI (Base pour l'Analyse du Commerce International) • Last Updated: January 2025 • Coverage: 1995-2023