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1 ITC by Country Report Cape Verde 05/12/2014 ITC by country - Cape Verde 1
2 Table of Contents 1. Country / Territory Brief 2. People and Economy 2.1 People 2.2 Economy 3. Trade Performance 3.1 General Trade Performance 3.2 Sector Trade Performance 4. Trade Strategy and Policy 4.1 Trade and Development Strategies 4.2 Domestic and Foreign Market Access 4.3 Trade Facilitation 4.4 Business and Regulatory Environment 4.5 Infrastructure 5. ITC and the Country/Territory 5.1 ITC Projects 5.2 Events 5.3 ITC Contacts 6. Trade Information Sources and Contacts 6.1 Trade Information Sources 6.2 Trade Contacts This is a pdf version of the captioned country contents in the intracen web site of the International Trade Centre. This document was generated on For the latest information about ITC's work and the country, please refer to International Trade Centre 2014 ITC encourages the reprinting and translation of its publications to achieve wider dissemination. Short extracts of this document may be freely reproduced, with due acknowledgement of the source. Permission should be requested for more extensive reproduction or translation. A copy of the reprinted or translated material should be sent to ITC. ITC by country - Cape Verde 2
3 1. Country / Territory Brief Cape Verde is Small Island Developing State (SIDS) located off the coast of West Africa in the Central Atlantic Ocean which became a member of the WTO in July Cape Verde's economy is very much service-oriented with commerce, transport, tourism, and public services accounting for about three-fourths of GDP and has experienced steady growth since the 1990 s.tourism is the mainstay of the economy and is heavily dependent on conditions in the euro zone countries, with the country running an annual trade deficit financed by foreign aid and remittances from its large pool of emigrants Although GDP growth dropped from 4% in 2011 to 1% in 2013, sound economic management has produced steadily improving incomes. Continued economic reforms are aimed at developing the private sector and attracting foreign investment to diversify the economy and mitigate high unemployment. Future forecasts depend heavily on the maintenance of aid flows, the encouragement of tourism, remittances, and the momentum of the government's development program. Under the One UN framework, ITC is currently assisting Cape Verde in the development of a national sector-level trade strategy and in enhancing productive capacities through the implementation of sector-specific strategies in agriculture, forestry, fishing, industry, mining, tourism, and services. ITC by country - Cape Verde 3
4 2. People and Economy 2.1 People Total population (growth rates per annum) Population density (people per sq. km of land area) 484,651 in 2012 with growth rates of 0.5% p.a during in 2012 Female population 50.6% in 2012 Population below 15 years of age 33.8% in 2012 Urban population 60.2% in 2012 Population living below $1.25 a day at purchasing power parity (PPP) Ranking in the Human Development Index (HDI) 132 out of 186 in 2012 Evolution of the Human Development Index (HDI) Source: United Nations Development Programme Human Development Indicators Note: The Human Development Index measures the overall development of a nation and ranges from 0 (low level of development) to 1 (highest level of development). The United Nations Development Programme ( provides a detailed explanation. ITC Regional group refers to ITC definition Health Life expectancy at birth (years) (74); Mortality rate, under-5 (per thousand live births) (22.2) in 2012 Education Education index - expected and mean years of schooling (rank) ( 165 out of 191) in 2012 Income level Inequality Poverty Gender Sustainability ITC by country - Cape Verde 4
5 2.2 Economy Sector added value Added value per sector (current US$ and % of GDP) US $ %GDP US $ %GDP US $ %GDP Agriculture Industry Manufacturing Services , Source: World Bank World Development Indicators (WDI) Note: Added value is US$ terms are expressed in million, GDP US$, and "6,976 to be read 6'976" Evolution of GDP (constant 2005 US$) Source: World Bank World Development Indicators (WDI) Note: ITC calculations based on the World Bank WDI Evolution of GDP per capita (constant 2005 US$) Source: World Bank World Development Indicators (WDI) Note: ITC calculations based on the World Bank WDI Remittances as a Share of GDP Remittances as a Share of GDP Remittance ($ millions) Remittance (% GDP) Source: World Bank World Development Indicators (WDI) Note: ITC calculations based on World Bank WDI, IMF BOP statistics, and "6,976 to be read 6'976" ITC by country - Cape Verde 5
6 3. Trade Performance 3.1 General Trade Performance Evolution of Trade Ratio to GDP - Goods Evolution of Trade Ratio to GDP - Services ITC by country - Cape Verde 6
7 3.1.3 Evolution of Total Trade Trade Map ITC by country - Cape Verde 7
8 3.1.5 Export and Import by Leading Destination - Export Export and Import by Leading Destination - Import ITC by country - Cape Verde 8
9 3.1.7 Evolution of Exports and Imports by Destination - Export Evolution of Exports and Imports by Destination - Import ITC by country - Cape Verde 9
10 3.1.9 Total Export Growth Source: ITC, calculations based on ITC s Trade Competitiveness Map data. Note:Graph shows decomposition of the country s export growth in value terms by diversification pattern over the indicated period Marginal Export Growth Source: ITC, calculations based on ITC s Trade Competitiveness Map data. Note:Graph shows decomposition of the country s export growth in value by structural driving effects over the indicated period. Values are in US$ thousands. ITC by country - Cape Verde10
11 Composition of Trade in Services - Export Composition of Trade in Services - Import ITC by country - Cape Verde11
12 Evolution of FDI ITC by country - Cape Verde12
13 3.2 Sector Trade Performance Sectoral Diversification in Products - Export Sectoral Diversification in Products - Import ITC by country - Cape Verde13
14 3.2.3 Sectoral Diversification in Destinations - Export Sectoral Diversification in Destinations - Import Sectoral diversification in origin for Cape Verde's imports Sector Sector's import growth in value (% p.a) Share of top 3 supplying countries in sector s imports List of the top 3 supplying countries Minerals 17.0 % 82.1 % 89.1 % Netherlands ; Germany ; Portugal Netherlands ; Spain ; Switzerland Fresh food 5.6 % 49.6 % 49.3 % Portugal ; Thailand ; Uruguay Thailand ; Portugal ; Spain Unclassified products 4.6 % 99.2 % 99.3 % Area Nes ; United States of America ; Portugal Area Nes ; United States of America ; Portugal Clothing 3.5 % 73.4 % 71.8 % Portugal ; China ; Spain Portugal ; China ; Spain Processed food 3.3 % 73.8 % 71.6 % Portugal ; Netherlands ; Brazil Portugal ; Belgium ; Brazil Wood products 3.0 % 82.3 % 79.8 % Portugal ; Spain ; Italy Portugal ; Turkey ; Spain Textiles 2.7 % 76.7 % 81.8 % Portugal ; Spain ; China Portugal ; Spain ; China IT & consumable electronics 2.6 % 84.2 % 76.5 % Portugal ; China ; Spain Portugal ; China ; United States of America Chemicals 2.1 % 82.1 % 79.9 % Portugal ; Spain ; Italy Portugal ; Spain ; China Electronic components 0.6 % 82.9 % 87.3 % Portugal ; Spain ; Italy Portugal ; Spain ; China Miscellaneous manufacturing 0.4 % 82.8 % 79.3 % Portugal ; Spain ; Italy Portugal ; Spain ; China ITC by country - Cape Verde14
15 3.2.5 Sectors by World Demand - Export Sectors by World Demand - Import ITC by country - Cape Verde15
16 3.2.7 Trade Performance Index ITC by country - Cape Verde16
17 4. Trade Strategy and Policy 4.1 Trade and Development Strategies Year Strategy name Sector 2011 ECOWAS Mango Export Strategy The Mango Export Strategy for the Economic Community of Western African States... Mango 2009 Cape Verde s Insertion in the Global Economy The main objectives of the DTIS are to: (i) understand the macroeconomic... Tourism, Offshore Financial Services, Business Process Outsourcing, Logistic and Trasport Services, UNDAF Cape Verde The UNDAF is alligned with priorities set by other international and national Growth and Poverty Reduction Strategy Paper The GPRSP is organized around five main pillars: 1) Promote good governance,... Tourism, Fisheries ITC by country - Cape Verde17
18 4.2 Domestic and Foreign Market Access ITC by country - Cape Verde18
19 4.3 Trade Facilitation ITC by country - Cape Verde19
20 4.4 Business and Regulatory Environment Multilateral Trade Instruments Instrument ratified : Ratification rate : 81 / 266 instruments 30.5% Abstract The Trade Treaties Map tool is a web-based system on multilateral trade treaties and instruments designed to assist trade support institutions (TSIs) and policymakers in optimizing their country's legal framework on international trade Weighted score : In World : 41.6/100 Ratification Rate Rank 135 / 193 Weighted Score Rank 127 / 193 In Region : Sub- Saharan Africa 24/ 47 20/ 47 In Development level : Least developed country 18/ 48 15/ 48 Graph Presents a visual illustration breaking down a country s ratification level according to various categories and compares it to the world average. Instruments ratified Click here for a full list and more details about these multi-lateral trade instruments ITC by country - Cape Verde20
21 4.5 Infrastructure ITC by country - Cape Verde21
22 5. ITC and the Country/Territory 5.1 ITC Projects Current projects Cape Verde - OneUN trade and productive capacities development Recent projects IA81 - PACT2 - Design of ECOWAS-TEN network of trade experts ECOWAS Regional trade information networks PACT 2 - ECOWAS Regional Private Sector Apex Bodies for Public-Private Dialogue PACT 2 - ECOWAS Networks of National and Regional TSIs PACT 2 - ECOWAS Sector Strategy PACT 2 - ECOWAS Improved Technical Capacities and RBM Operations ITC by country - Cape Verde22
23 5.2 Events Upcoming events No data Recent events No data ITC by country - Cape Verde23
24 5.3 ITC Contacts Ekutu BONZEMBA Trade Promotion Officer Ruben PHOOLCHUND Chief, Office for Africa ITC by country - Cape Verde24
25 6. Trade Information Sources and Contacts 6.1 Trade Information Sources This section provides a list of country specific print and online publications on trade-related topics, including both ITC and external sources ITC publications Selected printed information sources Selected online information sources ITC by country - Cape Verde25
26 6.2 Trade Contacts Official Name Address City Phone Number Fax Number Website Instituto do Emprego e Formação Profissional (IEFP) Rua Serpa Pinto nº 3 Cidade da Praia / iefp@ief p.gov.cv w.iefp.cv Câmara de Comércio, Indústria, Agricultura e Serviços de Barlavento Rua Boa Vista Bloca A Mindelo S. Vicente; Regiã cciasb@ cciasb.or g w.cciasb. org ITC by country - Cape Verde26
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