Trade Data Analysis

Cape Verde: Intra-Africa trade and tariff profile

Cape Verde: Intra-Africa trade and tariff profile

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Intra-Africa trade profile for 2018

Cape Verde mainly trades with countries outside of the African continent. In 2018, intra-Africa exports were only US$120 000 accounting for 0.2% of Cape Verde’s total world exports. Intra-Africa imports were US$32 million, accounting for 4% of total world imports for 2018.

  • Between 2017 and 2018, Cape Verde’s intra-Africa exports decreased significantly (although from a very low base); from US$310 000 to US$120 000 (63% decline). World exports increased by 51%. Cape Verde’s intra-Africa export product of prepared or preserved fish, its main export product, decreased by 57%. Exports to Angola and Cameroon declined by US$250 000 and US$30 000 respectively.

  • Between 2017 and 2018 world imports increased by 3%, while intra-Africa imports increased by 1%.

  • At HS4 Cape Verde only exports 3 products to the rest of Africa – prepared or preserved fish, caviar and caviar substitutes (92% of intra-Africa exports); wheat flour (7%) and leather (2%).

  • Exports are only to four African destination markets – Morocco (destination market for 50% of Cape Verde’s intra-Africa exports), Algeria (33%), Guinea-Bissau (16%) and Ghana (2%).

  • Cape Verde mainly imports petroleum oils (not crude) from the rest of Africa; 55% of intra-Africa imports. Other import products are cigars and cigarettes (7%), petroleum gas (4%), sawn wood (4%) and mixtures of odoriferous substances (an additive used in the food and beverage industry) (3%). The top 10 import products account for 81% of Cape Verde’s total intra-Africa imports.

  • In terms of total intra-Africa trade (exports + imports) Cape Verde mainly trades with Senegal (51% of total intra-Africa trade; all of which are imports). Other main trading partners are Togo (20%; all of which are imports), Morocco (17%; exports and imports) and Egypt (2%; all of which are imports).

  • Due to Morocco being the main destination market (not yet an ECOWAS member state), Cape Verde’s intra-ECOWAS exports account for only 17% (US$20 000) of intra-Africa exports.

  • The main African source markets are Senegal, Togo and Morocco. Accordingly, intra-ECOWAS imports account for 68% of Cape Verde’s intra-Africa imports.

Intra-Africa import tariffs

Cape Verde subscribes to the ECOWAS ETLS enabling all qualifying goods sourced from approved producers in the other ECOWAS member states to be imported into Cape Verde duty-free. Goods imported from the rest of Africa are levied the MFN applied duty. Cape Verde is not yet applying the ECOWAS CET, accordingly the MFN applied duties of Cape Verde differ significantly from the duties applicable under the ECOWAS CET. Cape Verde’s MFN applied tariff has 12 tariff bands ranging from low (duty-free, 1%, 2%, 3% and 5%) to medium (10% and 15%) to high (20%, 25%, 30%, 40% and 50%).

Downloads

Cape Verde: Intra-Africa trade and tariff profile | August 2019
Infographic: Cape Verde – Intra-Africa trade and tariff profile | August 2019
Cape Verde: Intra-Africa trade and tariff profile | September 2018
Infographic: Cape Verde – Intra-Africa trade and tariff profile | September 2018

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