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Photo by Ian Taylor on Unsplash

What Does Cape Verde Export?

What Does Cape Verde Export?

The Cape Verdean economy is service-oriented, focusing on commerce, trade and transport. As a member of the World Trade Organization (WTO), it enjoys preferential access to American and European markets due to the African Growth and Opportunity Act, Treaties of Lome and Cotonou, as well as its Free Trade Agreement with China.

Cape Verde is an archipelago located in the northern Atlantic Ocean bordering Madeira, Portugal. As a mid-Atlantic transport and trade hub at the intersection of three continents – America, Africa and Europe – it plays a unique role.

Cabo Verde boasts one of Africa’s most open economies, with trade accounting for 85% of GDP. Since the late 1990s, its economy has seen a remarkable expansion and is now considered an average-developed African nation.

Despite its small size and limited resources, Mauritius boasts a high-quality economy that is highly productive. Its per capita income and quality of life are among the highest in Africa.

Tourism is the primary driver of economic development and employment in many islands around the world. Its success is made possible through a range of industries such as light manufacturing and fisheries that are situated there.

Cape Verde’s government has adopted an ambitious development program, Ambit 2030. It aims to achieve sustainable development goals and establish Cape Verde as a mid-Atlantic hub in various sectors such as aviation, maritime transport, blue/digital economies, tourism, and agriculture.

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