Spain-Cabo Verde Bilateral Trade Analysis 2023
Complete trade statistics: $223.69M total volume •Spain surplus: $65.81M
Spain → Cabo Verde
$144.75M
Exports (2023)
Cabo Verde → Spain
$78.94M
Imports (2023)
Trade Balance
$65.81M
Surplus for Spain
Total Trade
$223.69M
Combined Volume
Trade Flow Visualization
Direct trade relationship between Spain and Cabo Verde. Green line shows exports from Spain, red line shows imports.
Detailed Product Trade Analysis
Comprehensive breakdown of trade flows by product category, revealing the specialized nature of the Spain-Cabo Verde commercial relationship and competitive positioning in global markets.
Spain → Cabo Verde Exports
Export Market Intelligence
🎯 Strategic Export Focus
Spain's export portfolio to Cabo Verde demonstrates strategic specialization, with containers: (including containers for transport of fluids) specially designed and equipped for carriage by one or more modes of transport representing a key competitive advantage in this bilateral market.
Cabo Verde → Spain Imports
Import Dependency Profile
📦 Import Strategy Analysis
Spain's import pattern from Cabo Verde reveals significant dependencyin fish preparations: tunas, skipjack and atlantic bonito (sarda spp.), prepared or preserved, whole or in pieces (but not minced), highlighting complementary economic structures and potential supply chain optimization opportunities.
Competitive Trade Position Analysis
Market Leadership
Spain demonstrates competitive strength in exportingcontainers: (including containers for transport of fluids) specially designed and equipped for carriage by one or more modes of transport to Cabo Verde, leveraging comparative advantages.
Trade Complementarity
The bilateral relationship showsstrongcomplementarity, with each country specializing in different sectors.
Growth Potential
The $223.69M trade volume indicates substantial economic integration with room for expansion in emerging sectors.
Executive Summary: Spain-Cabo Verde Trade Relationship
Key Trade Highlights 2023
- Total Trade Volume: $223.69 millionrepresenting a significant bilateral economic relationship
- Trade Balance: Spain maintains a surplus of $65.81 million
- Export Focus: Spain's primary exports include containers: (including containers for transport of fluids) specially designed and equipped for carriage by one or more modes of transport, aluminium: casks, drums, cans, boxes and the like for any material (not compressed or liquefied gas), 300l capacity or less, whether or not lined or heat-insulated, no mechanical or thermal equipment, vegetable oils: olive oil and its fractions, virgin, whether or not refined, but not chemically modified
- Import Dependencies: Key imports from Cabo Verde include fish preparations: tunas, skipjack and atlantic bonito (sarda spp.), prepared or preserved, whole or in pieces (but not minced), fish preparations: fish prepared or preserved, whole or in pieces (but not minced), n.e.c. in heading no. 1604, 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 $223.69M 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 Spain leveraging its comparative advantages in containers: (including containers for transport of fluids) specially designed and equipped for carriage by one or more modes of transport.
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
Spain's specialization in containers: (including containers for transport of fluids) specially designed and equipped for carriage by one or more modes of transportcomplements Cabo Verde's demand patterns, creating natural trade synergies.
Supply Chain Integration
Deep integration in global value chains has strengthened bilateral linkages, particularly in fish preparations: tunas, skipjack and atlantic bonito (sarda spp.), prepared or preserved, whole or in pieces (but not minced).
Market Access & Trade Policy
Favorable trade agreements and market access conditions have facilitated the growth of this $223.69M bilateral relationship.
Trade Pattern Insights
Trade Relationship Outlook
The $223.69M 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 $223.69 million bilateral trade volume represents a important trade relationshipfor both economies.
Industrial Integration
Trade flows in containers: (including containers for transport of fluids) specially designed and equipped for carriage by one or more modes of transport and fish preparations: tunas, skipjack and atlantic bonito (sarda spp.), prepared or preserved, whole or in pieces (but not minced) demonstrate deep industrial linkages and supply chain integration.
Trade Balance Effects
Spain's trade surplus of $65.81 million strengthens 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 Spain and Cabo Verde represents a total trade volume of $223.69 million in 2023. This partnership demonstrates a favorable trade balance for Spain, with exports exceeding importsby $65.81 million.
Export Strengths
Spain's exports to Cabo Verde total $144.75 million, with competitive advantages in containers: (including containers for transport of fluids) specially designed and equipped for carriage by one or more modes of transport, representing $9.88M or6.8% of bilateral exports.
Import Dependencies
Imports from Cabo Verde amount to $78.94 million, highlighting economic interdependence in fish preparations: tunas, skipjack and atlantic bonito (sarda spp.), prepared or preserved, whole or in pieces (but not minced), with Fish preparations: tunas, skipjack and Atlantic bonito (sarda spp.), prepared or preserved, whole or in pieces (but not minced) comprising21.5% of total imports.
The trade relationship reflects broader economic patterns and comparative advantages. The trade surplus indicates Spain's competitive position in this bilateral relationship. 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 Spain and Cabo Verde in multiple formats.
Data Source: CEPII BACI (Base pour l'Analyse du Commerce International) • Last Updated: January 2025 • Coverage: 1995-2023