CAPE VERDE JUNE
2012
INTERNATIONAL SUPPORT KIT OF OPPORTUNITIES
The Country's Economic Context Industry Structure International Trade, Bilateral Trade with Portugal and Opportunities BES Group’s Internationalisation Support: International Premium Unit
BES Group's International Offering Contacts
ISKO Cape Verde International Premium Unit/ ES Research – Sectoral Research
CABO VERDE
Business environment and key factors
Business environment Ease of doing business
119/183
(Doing Business 2012 ranking)
Starting a business Cross-border trade Contract fulfillment Economic Freedom
131/183 61/183 37/183 66/179
(Economic Freedom 2012 ranking)
Competitiveness
119/142
(Global Competitiveness Index 2011-2012 ranking)
Basic Requirements Infrastructure Institutions
96/142 109/142 54/142
Efficiency Enhancers
126/142
Innovation and Sophistication
124/142
Cosec (Risk group)
Praia
5
Grade 1 (lowest risk) to 7 (highest risk)
Standard & Poor´s (Rating) (AAA rating (lowest risk) to D (highest risk, default))
Long term debt in local currency Long term debt in foreign currency Outlook
B+ B+ Stable
Capital: Praia Population (Thousands): 520 (2011) Time Zone: GMT - 1 Type of Government: Semi-presidentialist republic
Official Language: Portuguese Area: 4 033 km2 (10 islands) Currency: Cape Verde Escudo (CVE, fixed exchange rate EUR/110.3 CVE) Religion: Christian Majority (Catholics, 95%)
Sources: IMF, World Bank, INE Cabo Verde, COSEC, World Economic Forum, Global Heritage, Bloomberg.
ISKO Cape Verde International Premium Unit/ ES Research – Sectoral Research
03
CAPE VERDE
Macroeconomic Indicators 2011
2012E
1.3
1.4
5.2
10.3
2010 GDP
2013E
2014E
1.5
1.6
1.7
5.0
4.3
4.4
4.5
10.0
10.0
10.0
9.0
2.1
2.0
2.1
Current prices EUR billion
GDP real growth rate Percentage
Unemployment Rate Percentage of working population
Inflation Rate
2.1
4.5
Percentage
Exchange Rate
110.3
110.3
110.3
110.3
110.3
-12.5
-12.5
-12.1
-10.5
-9.3
-10.6
-8.9
-8.8
-7.4
-6.8
EUR/MOP
Current Account Percentage of GDP
Fiscal Balance Percentage of GDP E
Estimates Sources: INE Cabo Verde, Banco de Cabo Verde, IMF.
ISKO Cape Verde International Premium Unit/ ES Research – Sectoral Research
04
CAPE VERDE
Economic summary (I)
Cape Verde is a small open economy, which is very dependent on the external influences given its high dependence on imported food and energy and on capital inflows from overseas (e.g. emigrants remittances and aid). It has an economy based on services, which represent over 70% of GDP. The industrial base is not well developed (being essentially limited to the textile, footwear and fishing industries). Following a series of economic imbalances in 2000, the economic situation in Cape Verde improved considerably in subsequent years, benefitting from a favourable external environment and adequate economic policies (including a reform of the taxation system, a privatisation program and a combination of monetary and foreign exchange policies that helped stabilize the economy). The slowdown in the rate of growth of Cape Verde’s economy in 2009, largely due to the negative impact of the global financial crisis, was quickly overcome in 2010 and 2011, and an annual average growth rate close to 4.5% is expected between 2012 and 2014. The results achieved by Cape Verde on the economic front have merited the applause of the main international institutions. The World Bank’s ease of doing business survey, Doing Business 2012 (DB 2012), ranks Cape Verde ten positions higher than in the prior year, the fifth biggest improvement worldwide, at 119 out of 183 countries analyzed. Cape Verde is ranked first among “medium human development” countries, according to the United Nations’ Human Development Index, coming 133rd out of 187 countries. In 2011, Cape Verde was ranked sixth in Sub-Saharan Africa. In February 2012, Cape Verde signed the second Millennium Challenge1 compact, in recognition of the country’s progress in poverty reduction, increase in agricultural production, development of the internal market, reduction in transport costs and private sector development.
1 Independent
North American overseas aid institute, created by the United States Congress. The institute provides resources for poverty reduction programs around the world, as long as a series of rigorous criteria relating to good governance, economic freedom and investment in citizens are respected.. Sources: IMF, OECD, ES Research – Sectoral Research.
ISKO Cape Verde International Premium Unit/ ES Research – Sectoral Research
05
CAPE VERDE
Economic summary (II) In the long run, growth should benefit from gradual and sustained diversification of the economy, resulting from accumulated investments in various sectors (in particular in tourism). Indeed, the authorities have invested in the development of fishing, positioning Cape Verde as an ocean hub, and in improvements in the financial and telecommunications sectors. In the next few years, the main public investment projects will be centred on infrastructure, with nearly 50% related to the energy, water and transport sectors. The public investment program also foresees a social component, human capital development and intervention in specific sectors, with a view to increasing productivity. Despite the economic development registered over the last few years, the Cape Verdean authorities have had difficulty in bringing the unemployment rate under 10%. As such, economic diversification will also be of crucial importance in generating new job opportunities in the future.
Sources: IMF, OECD, ES Research – Sectoral Research .
ISKO Cape Verde International Premium Unit/ ES Research – Sectoral Research
06
CAPE VERDE
International Integration
CPLP – Community of Portuguese-Speaking Countries Comprising Portugal, Angola, Brazil, Cape Verde, Guinea-Bissau, Mozambique, Saint Thomas and Prince and East Timor, it seeks to harmonize political and diplomatic relations in terms of international foreign policy, namely in the defence and promotion of common interests and in relation to specific issues, promote cooperation, particularly in economic, social, cultural, legal, technical and scientific fields, and implementation of programs to promote and spread the Portuguese language. www.cplp.org
ECOWAS – Economic Community of West African States ECOWAS is a regional economic integration organization for West African countries, comprising around 230 million consumers in 15 member states, including Cape Verde and Guinea-Bissau.
www.ecowas.int AfDB – African Development Bank
Santo Antão São Vicente Santa Luzia Sal São Nicolau
Founded in 1964, this financial institution emerged from 3 Africa development funds. Its objective is to promote sustained economic development and reduce poverty in the African continent. Portugal is a non-regional member as of 1982.
Boavista Atlântico Norte
www.afdb.org Maio
São Tiago
Macaronesia/EU Political and development cooperation initiative between the archipelagos of the Azores, the Canaries, Cape Verde and Madeira, who have established a partnership as ultra peripheral regions of the EU. On 9 December 2011, the European Union granted the Generalized System of Preferences + (GSP+) status to Cape Verde, which was the first African country to achieve this status1.
Brava
Fogo
Praia
1 When Cape Verde ceased to have United Nations “Less Developed Country “status in December 2007, it was conceded a transition period, which expired on 31 December 2011. The GSP+ is a Economic Partnership Agreement (EPA) which guarantees better access to European markets for Cape Verdean products and services, as long as there is an effective commitment to implementing the 27 most important international conventions relating to respect for human and labour rights, the environment and good governance. Sources: AfDB, EU, CIA, ECOWAS, AICEP, CPLP, ES Research – Sectoral Research .
ISKO Cape Verde International Premium Unit/ ES Research – Sectoral Research
07
The Country's Economic Context Industry Structure International Trade, Bilateral Trade with Portugal and Opportunities BES Group’s Internationalisation Support: International Premium Unit
BES Group's International Offering Contacts
ISKO Cape Verde International Premium Unit/ ES Research – Sectoral Research
CAPE VERDE
GDP Sectoral Structure Cape Verde is a services-based economy (77% of GDP in 2011). The tourism sector is the main driver of growth in the archipelago.
GDP breakdown by sector (2011) 0.7% Fishing 4.6% Agriculture 6.7% Construction
7.1% Industry
77.0% Services1
1 Services,
excluding banking services. Sources: Banco de Cabo Verde, ES Research – Sectoral Research . ISKO Cape Verde International Premium Unit/ ES Research – Sectoral Research
09
CAPE VERDE
The economy’s sectoral structure (I) Economic growth in Cape Verde has stimulated expansion in the banking sector. Since the beginning of 2010, four new institutions have started operations in the country. The number of financial institutions in Cape Verde is now equal to 9 (8 active) onshore and 14 offshore. This expansion has lead to an increase in the branch network and in related financial services. Presently, bank branches cover all of the islands of the archipelago. The presence of Portuguese capital is very significant in some of the key financial institutions in Cape Verde: Espirito Santo Group (BES Cape Verde), Caixa Geral de Depósitos Group (BCA and Banco Interatlântico), BANIF Group (BCN), Geocapital (Caixa) and Banco Português de Gestão. The Central Bank of Cape Verde’s monetary policy, in particular in relation to limiting credit expansion, has centred on preserving the financial strength of the retail banks. The ratio of non-performing loans to total loans was equal to 4.4% in 2010.
FINANCIAL SYSTEM
Banks operating in Cape Verde, 2010 Total assets (CVE millions) Banco Comercial do Atlântico - BCA
65.6
Caixa Económica de Cabo Verde - Caixa
36.7
Banco InterAtlântico Banco Caboverdiano de Negócios – BCN Banco Africano de Investimentos - BAI 1
BES Cabo Verde Ecobank
2 2
Novo Banco 1
2
18.0 12.6 5.5 1.6 0.6 0.4
2
Comparison between 2010 and August 2011. Figures for 2011. Sources: Banco de Cabo Verde, ES Research – Sectoral Research. ISKO Cape Verde International Premium Unit/ ES Research – Sectoral Research
010
CAPE VERDE
The economy’s sectoral structure (II)
The IMF’s projections for tourism receipts, in terms of Balance of Payments, for the period 20092016, illustrates that the growth already witnessed is expected to accelerate sharply over the next few years. Indeed, between 2009 and 2016, tourism receipts are expected to expand 110%, exceeding EUR 400 million in 2016 and representing approximately 45% of exports of goods and services. The World Travel and Tourism Council’s forecasts also point in the same direction, predicting average annual growth of tourism receipts of around 10% (7.3% in real terms) over the next ten years, 2011-2021. The sector already directly contributes 14% of total employment.
Tourism receips, 2009-2016P (EUR millions)
TOURISM (I)
Sources: IMF, ES Research – Sectoral Research.
P
190
200
2009
2010
226
2011
259
2012
294
2013
330
2014
366
2015
401
2016
Projections.
ISKO Cape Verde International Premium Unit/ ES Research – Sectoral Research
011
CAPE VERDE
The economy’s sectoral structure (III)
There has been an exponential increase in the number of nights spent which, in 2000, totalled 685 thousand and, in 2011, already exceeded 2.8 million. Over this period, the average annual increase in nights spent in hotel establishments in the country increased 13.8%, culminating, in 2011, in an increase of over 20% in relation to 2010. There continues to be strong reliance on foreign tourism - over 90% of nights spent - almost exclusively represented by European markets. The countries that were most representative in 2011 were: the United Kingdom, 27.1%; Germany, 15.1%; Italy, 14.1%; Portugal, 11.9%; and France, 10.4%. The islands of Boavista and Sal stand out clearly as being the most capable of attracting tourists, representing 90% of nights slept, 47.2% on the island of Boavista and 42.9% on the island of Sal.
Growth in the number of nights spent in hotel establishments in Cape Verde, 2000-2011 (Millions)
TOURISM (II)
2 828 2 342 1 827
685
2000
806
694
2001
2002
903
865
936
2003
2004
2005
1 368
1 433
2006
2007
2008
2 022
2009
2010
2011
Sources: INE Cabo Verde, Direcção Geral de Turismo de Cabo Verde, ES Research – Sectoral Research.
ISKO Cape Verde International Premium Unit/ ES Research – Sectoral Research
012
CAPE VERDE
TOURISM (III)
The economy’s sectoral structure (IV)
Cape Verde is ranked ninth worldwide in terms of growth forecast for the tourism sector. This scenario reflects the growing expansion in hotel accommodation in the archipelago and the improved quality of infrastructure and human resources available. In 2011, accommodation capacity comprised 195 establishments and over 14 thousand beds, representing an increase in capacity of approximately 70% since 2005. The number of available beds continues to be most significant on the island of Sal, 44.7%; followed by the islands of Boavista, 31.1%; Santiago, 9.6%; and São Vicente, 6.9%. Noteworthy is the sharp increase in accommodation available on the island of Boavista in the last two years: in 2009, it represented only 23% of the total number of available beds on the islands, whereas, in 2011, that share already had increased to 31%. Investment projects being planned for the islands foresee a doubling of taccommodation capacity over the next fifteen years (the Hilton chain recently announced its arrival in the country, in May 2012). Growth in accommodation capacity in Cape Verde, 2005 - 2011 (Number of establishments)
132
142
150
158
173
178
Distribution of accommodation capacity on the islands, 2011 (% of total)
195
S. Vicente 6.9
S. Antão 3.7
Santiago 9.6 2005
2006
2007
2008
2009
2010
2011
Others 4
Sal 44.7 Boavista 31.1
Sources: INE Cabo Verde, Direcção Geral de Turismo de Cabo Verde, ES Research – Sectoral Research.
ISKO Cape Verde International Premium Unit/ ES Research – Sectoral Research
13
CAPE VERDE
The economy’s sectoral structure (V) Despite the limited size of its surface area, Cape Verde benefits from a vast Exclusive Economic Zone – EEZ: 789.4 thousand km2, around 9.4% of the EEZ of the whole of Sub Saharan Africa. According to global benchmarks, Cape Verde’s fish stocks are not substantial, but do include migratory species of commercial value, such as tuna fish, as well as small pelagic fish, some demersal fish and lobster. The overall level of employment in the fishing industry and related activities in the public sector represent about 5% of the total workforce. Following a sharp contraction in 2009, there was a recovery in production in the industry in 2010 which yielded close to 20 thousand tons. This sector, which is of great social and strategic importance for the country, is expected to contribute over 50% of merchandise exports in 2012. This contribution is to be sustained by the growing importance of the canning industry, particularly with the future implementation of cold storage facilities on the island of São Vicente. Growth in fishing output (catch), 2000-2010 (Tons)
FISHING (I)
24 554
23 698
21 581 19 500
18 328
10 557
2000
16 828
10 336
8 601
8 077
8 049
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
Sources: FAO, ES Research – Sectoral Research.
ISKO Cape Verde International Premium Unit/ ES Research – Sectoral Research
14
CAPE VERDE
FISHING (II)
The economy’s sectoral structure (VI)
Cape Verde enjoys access to EU markets with exemption from customs dues with regard to products entirely originating from fishing and is a member of the International Commission for the Conservation of Atlantic Tunas and of the Subregional Commission on Fisheries. In recent years, between 43 and 57 foreign vessels have been authorized to fish in Cape Verde’s EEZ. European Union, Japanese and Senegalese fleets operate under the terms of various access agreements. On 1 September 2011, a new fishing agreement between Cape Verde and the European Union came into effect. The new agreement will last for three years and authorizes 11 pole-and-line tuna fishing vessels, 28 tuna seiners and 35 surfase longliners from the European Union to operate in Cape Verdean waters, including nine Portuguese vessels, two more than in the previous agreement. The European vessels can capture a quota of five thousand tons per annum, Cape Verde being entitled to financial compensation of around EUR 1.3 million. Cape Verde - UE Agreement Fishing Opportunities
Tuna pole-and-line Tuna pole-and-line vessels vessels (2011/2014) (2007/2011)
Tuna seiners (2007/2011)
Tuna seiners (2011/2014)
Surface longliners (2007/2011)
Surface longliners (2011/2014)
Spain
12
16
41
26
7
7
France
13
12
0
0
4
4
Portugal
0
0
7
9
-
-
Total/vessels
25
28
48
35
11
11
Member State
Sources: European Commission, ES Research – Sectoral Research.
ISKO Cape Verde International Premium Unit/ ES Research – Sectoral Research
15
CAPE VERDE
The economy’s sectoral structure (VII)
Given its potential, the know-how involved and the exceptional location of the Cape Verde archipelago, the fishing industry and related activities possess the ingredients to engender a maritime cluster involving a wide range of activities all of which share a relationship with the sea and, therefore, potential to generate synergies. Fishing and fish distribution
Oceanographic research
Maritimes logistics
Infrastructure and Sea Cluster
Energy
Services for merchant marine and international fishing sectors
Shipbuilding and repair
Nautical tourism Water catchment
Source: ES Research – Sectoral Research.
Sea cluster
Salt production
Improving infrastructure is a key objective, including the expansion and modernization of the port of Praia (adjudicated to the Portuguese consortium Somague/MSF/Etermar); the construction of cold storage facilities at Porto Grande (Mindelo, São Vicente) in order that this port may become, from 2013 onwards, an international fishing harbour for industrial fleets; and the construction of a cruise ship terminal also at Mindelo port, an investment that is considered to be strategic so that the country can position itself in this market. The conclusion and inauguration of works at Palmeira (Sal), Porto Novo (Santo Antão), Sal-Rei (Boavista) and Porto de Cavaleiro (Fogo) are expected by May 2013. The ports of Praia and São Vicente represent approximately three quarters of the overall volume of goods shipped in the archipelago.
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The economy’s sectoral structure (VIII)
ATLANTIC GATEWAY TO AFRICA (I)
Cape Verde’s full regional integration, namely as a member of ECOWAS (Economic Community of West African States, comprising 230 million citizens in 15 member states) and given its close relationship with other member states of CPLP – the Community of PortugueseSpeaking Countries, and with countries that are part of other regional communities on the West African Coast: Angola, Saint Thomas and Prince and Equatorial Guinea (members of the Economic Community of Central African States – CEEAC and also, in the case of Equatorial Guinea, of the Economic and Monetary Community of Central Africa - CEMAC).
ECOWAS, CEMAC e CEEAC – member states
Senegal Gâmbia Cabo Verde
Mali
Níger Chad
B. F. Nigéria
S.T.P.
Globalization confers Cape Verde an increased centrality in its economic region, where it has an unique opportunity to impose itself. Cape Verde is geographically located in the centre of important trade routes which link Africa and Europe to markets in South and North America.
Benin
CAPE VERDE
R. D. Congo
Ruanda Burundi
Angola
Cape Verde
ECOWAS - Comunidade Económica dos Países da África Ocidental Sources: ECOWAS, CEMAC, CEEAC, ES Research – Sectoral Research.
CEMAC - Economic and Monetary Community of Central Africa CEEAC - Economic Community of Central African States
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17
The Country's Economic Context Industry Structure International Trade, Bilateral Trade with Portugal and Opportunities BES Group’s Internationalisation Support: International Premium Unit
BES Group's International Offering Contacts
ISKO Cape Verde International Premium Unit/ ES Research – Sectoral Research
CAPE VERDE
International Trade – Partners
Cape Verde’s imports by country, 2011 Ranking
Country
Cape Verde’s exports by country, 2011
Imports
Share
(EUR millions)
(%)
Ranking
Country
Exports
Share
(EUR millions)
(%)
1
Portugal
269.6
39.1
1
Spain
32.9
66.6
2
Netherlands
107.8
15.6
2
Portugal
7.8
15.7
3
Spain
69.4
10.0
3
Germany
4.2
8.4
4
Brazil
26.0
3.8
4
El Salvador
1.7
3.5
5
Italy
23.9
3.5
5
France
1.6
3.3
6
Malta
22.4
3.2
6
Sao Tome and Principe
0.3
0.5
7
Germany
19.9
2.9
7
USA
0.2
0.5
8
Japan
18.1
2.6
8
India
0.2
0.4
9
China
17.8
2.6
9
Lybia
0.1
0.3
10
Belgium
15.4
2.2
10
Guinea-Bissau
0.1
0.2
Source: UNComtrade.
ISKO Cape Verde International Premium Unit/ ES Research – Sectoral Research
19
CAPE VERDE
International Trade – Goods Imports and Exports (World) Cape Verde Top 10 exports, 2011
Cape Verde Top 10 imports, 2011 2011 (EUR Million)
Share (%)
CAGR06-11 (%)
2011 (EUR Million)
Share (%)
CAGR06-11 (%)
2710 - Petroleum Oils And Oils Obtained From Bituminous Minerals (Excl. Crude);
121.5
17.6
28.2
1604 - Prepared Or Preserved Fish; Caviar And Caviar Substitutes Prepared From Fish Eggs
22.0
44.5
131.0
2523 - Cement, Incl. Cement Clinkers, Whether Or Not Coloured
21.5
3.1
2.1
0303 - Frozen Fish (Excl. Fish Fillets And Other Fish Meat Of Heading 0304)
17.8
36.1
52.4
1006 - Rice
18.1
2.6
11.9
6406 - Parts Of Footwear, Incl. Uppers Whether Or Not Attached To Soles Other Than Outer Soles; Removable InSoles, Heel Cushions And Similar Articles
3.4
6.8
9.4
0402 - Milk And Cream, Concentrated Or Containing Added Sugar Or Other Sweetening Matter
13.9
2.0
6.3
6203 - Men'S Or Boys' Suits, Ensembles, Jackets, Blazers, Trousers, Bib And Brace Overalls, Breeches And Shorts (Excl. Knitted Or Crocheted)
1.4
2.9
-7.0
8703 - Motor Cars And Other Motor Vehicles Principally Designed For The Transport Of Persons
13.6
2.0
-1.3
6109 - T-Shirts, Singlets And Other Vests, Knitted Or Crocheted
1.3
2.5
20.0
8502 - Electric Generating Sets And Rotary Converters
13.2
1.9
51.1
6107 - Men'S Or Boys' Underpants, Briefs, Nightshirts, Pyjamas, Bathrobes, Dressing Gowns And Similar Articles, Knitted Or Crocheted (Excl. Vests And Singlets)
1.1
2.2
3.2
8704 - Motor Vehicles For The Transport Of Goods, Incl. Chassis With Engine And Cab
12.8
1.9
2.2
0306 - Crustaceans, Whether In Shell Or Not, Live, Fresh, Chilled, Frozen, Dried, Salted Or In Brine, Even Smoked
0.7
1.3
12.1
8503 - Parts Suitable For Use Solely Or Principally With Electric Motors And Generators, Electric Generating Sets And Rotary Converters, N.E.S.
12.5
1.8
71.6
2208 - Undenatured Ethyl Alcohol Of An Alcoholic Strength Of < 80%; Spirits, Liqueurs And Other Spirituous Beverages
0.5
1.0
1.2
1701 - Cane Or Beet Sugar And Chemically Pure Sucrose, In Solid Form
12.2
1.8
14.7
7204 - Ferrous Waste And Scrap; Remelting Scrap Ingots Of Iron Or Steel (Excl. Slag, Scale And Other Waste From The Production Of Iron Or Steel;
0.4
0.8
15.2
7308 - Structures And Parts Of Structures "E.G., Bridges And Bridge-Sections, Lock-Gates, Towers, Lattice Masts, Roofs, Roofing Frameworks, Doors And Windows
12.1
1.8
12.7
3004 - Medicaments Consisting Of Mixed Or Unmixed Products For Therapeutic Or Prophylactic Uses, Put Up In Measured Doses
0.3
0.6
33.8
Products (H.S. 4)
Products (H.S. 4)
Source: UNComtrade. ISKO Cape Verde International Premium Unit/ ES Research – Sectoral Research
20
CAPE VERDE
International Trade – Bilateral relations with Portugal (I)
Portugal’s trade balance with Cape Verde, 2006, 2010 and 2011 (EUR millions)
Compound Annual Growth Rate (CAGR) CAGR06-11 of exports = 5.0% CAGR06-11 of imports = 7.9%
Surplus balance EUR 250 million
In 2011, 2 929 companies exported goods to Cape Verde
Exports
328
326
73
Services (22%)
257
+3.5%
256
Goods (78%) Imports
54
78
61
67
Services (86%)
11 2006 Exports of goods and services
2010
2011
2011
In 2010, 2 831 companies exported goods to Cape Verde
Goods (14%)
Imports of goods and services
Sources: Instituto Nacional de Estatística, Banco de Portugal.
ISKO Cape Verde International Premium Unit/ ES Research – Sectoral Research
21
CAPE VERDE
International Trade – Bilateral relations with Portugal (I)
Top 10 Portuguese imports from Cape Verde, 2011
Top 10 Portuguese exports to Cape Verde, 2011 2011 (EUR Million)
Share (%)
CAGR06-11 (%) (%)
2523 - Cement, Incl. Cement Clinkers, Whether Or Not Coloured
13.1
5.1
12.0
46.2
1507 - Soya-Bean Oil And Its Fractions, Whether Or Not Refined (Excl. Chemically Modified)
8.5
3.3
14.3
12.1
17.2
2203 - Beer Made From Malt
6.7
2.6
3.2
1.0
9.7
-7.6
8544 - Insulated "Incl. Enamelled Or Anodised" Wire, Cable "Incl. Coaxial Cable" And Other Insulated Electric Conductors; Optical Fibre Cables
5.5
2.2
17.3
0306 - Crustaceans, Whether In Shell Or Not, Live, Fresh, Chilled, Frozen, Dried, Salted Or In Brine, Even Smoked
0.6
6.4
15.4
3004 - Medicaments Consisting Of Mixed Or Unmixed Products For Therapeutic Or Prophylactic Uses, Put Up In Measured Doses
5.3
2.1
4.9
8479 - Machines And Mechanical Appliances Having Individual Functions, Not Specified Or Included Elsewhere In This Chapter
0.3
2.6
80.0
7214 - Bars And Rods, Of Iron Or Non-Alloy Steel, Not Further Worked Than Forged, Hot-Rolled, Hot-Drawn Or Hot-Extruded,
5.0
2.0
54.5
2208 - Undenatured Ethyl Alcohol Of An Alcoholic Strength Of < 80%; Spirits, Liqueurs And Other Spirituous Beverages
0.2
2.0
6.0
8503 - Parts Suitable For Use Solely Or Principally With Electric Motors And Generators, Electric Generating Sets And Rotary Converters, N.E.S.
4.9
1.9
146.3
8708 - Parts And Accessories For Tractors, Motor Vehicles For The Transport Of Ten Or More Persons, Motor Cars And Other For The Transport Of Persons
0.2
1.6
50.7
7308 - Structures And Parts Of Structures "E.G., Bridges And Bridge-Sections, Lock-Gates, Towers, Lattice Masts, Roofs, Roofing Frameworks, Doors And Windows
4.4
1.7
8.4
0302 - Fish, Fresh Or Chilled (Excl. Fish Fillets And Other Fish Meat Of Heading 0304)
0.1
1.2
100.2
6908 - Glazed Ceramic Flags And Paving, Hearth Or Wall Tiles; Glazed Ceramic Mosaic Cubes And The Like, Whether Or Not On A Backing
4.0
1.6
9.0
8477 - Machinery For Working Rubber Or Plastics Or For The Manufacture Of Products From These Materials, Not Specified Or Included Elsewhere In This Chapter
0.1
1.2
n.a.
3917 - Tubes, Pipes And Hoses, And Fittings Therefor, E.G. Joints, Elbows, Flanges, Of Plastics
3.5
1.4
10.3
Products (H.S. 4)
2011 (EUR Million)
Share (%)
CAGR06-11 (%)
6406 - Parts Of Footwear, Incl. Uppers Whether Or Not Attached To Soles Other Than Outer Soles; Removable InSoles, Heel Cushions And Similar Articles
3.6
35.8
7.9
6203 - Men'S Or Boys' Suits, Ensembles, Jackets, Blazers, Trousers, Bib And Brace Overalls, Breeches And Shorts (Excl. Knitted Or Crocheted)
1.7
17.3
6109 - T-Shirts, Singlets And Other Vests, Knitted Or Crocheted
1.2
6107 - Men'S Or Boys' Underpants, Briefs, Nightshirts, Pyjamas, Bathrobes, Dressing Gowns And Similar Articles, Knitted Or Crocheted (Excl. Vests And Singlets)
Products (H.S. 4)
Sources: Instituto Nacional de Estatística, Banco de Portugal. ISKO Cape Verde International Premium Unit/ ES Research – Sectoral Research
22
CAPE VERDE
Goods export opportunities (I) Set of products (goods) identified as needs (imports) of Cape Verde for which Portugal has production and export capacity, thus representing opportunities to increase the volume of Portuguese exports to Cape Verde.
Top 10 export opportunities to Cape Verde 2505 - Natural sands of all kinds, whether or not coloured 8419 - Machinery, plant or laboratory equipment whether or not electrically heated, for the treatment of materials by a process involving a change of temperature 8481 - Taps, cocks and valves
4016 - Articles of vulcanised rubber (excl. hard rubber), N.E.S.
6309 - Articles for interior furnishing, of all types of textile materials (excl. blankets and travelling rugs, bedlinen, table linen, toilet linen, kitchen linen, curtains, incl. drapes, interior blinds, curtain or bed valances, lampshades and articles of heading 9404) 4011 - New pneumatic tyres, of rubber 1006 - Rice
1701 - Cane or beet sugar and chemically pure sucrose, in solid form
0207 - Meat and edible offal of fowls of the species gallus domesticus, ducks, geese, turkeys and guinea fowls, fresh, chilled or frozen
0402 - Milk and cream, concentrated or containing added sugar or other sweetening matter
Sources: UNComtrade, ES Research – Sectoral Research.
ISKO Cape Verde International Premium Unit/ ES Research – Sectoral Research
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CAPE VERDE
Goods export opportunities (II) Top 10 export opportunities to Cape Verde (Amount and rank of Cape Verde world imports) 2006 (EUR Million)
2010 (EUR Million)
CAGR06-10 (%)
Rank 2010
Share (%)
1006 - Rice
10.3
18.7
16.0
3
3.4
0402 - Milk And Cream, Concentrated Or Containing Added Sugar Or Other Sweetening Matter
10.2
11.9
3.9
5
2.2
0207 - Meat And Edible Offal Of Fowls Of The Species Gallus Domesticus, Ducks, Geese, Turkeys And Guinea Fowls, Fresh, Chilled Or Frozen
5.0
7.9
11.9
12
1.4
1701 - Cane Or Beet Sugar And Chemically Pure Sucrose, In Solid Form
6.1
6.7
2.4
16
1.2
4011 - New Pneumatic Tyres, Of Rubber
1.8
2.3
5.9
54
0.4
6309 - Worn Clothing And Clothing Accessories, Blankets And Travelling Rugs, Household Linen And Articles For Interior Furnishing
1.7
2.2
6.9
57
0.4
8481 -Taps, Cocks, Valves And Similar Appliances For Pipes, Boiler Shells, Tanks, Vats Or The Like, Incl. Pressure-Reducing Valves And Thermostatically Controlled Valves
1.5
2.0
7.2
63
0.4
8419 - Machinery, Plant Or Laboratory Equipment Whether Or Not Electrically Heated, for The Treatment Of Materials By A Process Involving A Change Of Temperature
1.4
1.5
2.9
78
0.3
2505 - Natural Sands Of All Kinds, Whether Or Not Coloured (Excl. Gold- And Platinum-Bearing Sands, Zircon, Rutile And Ilmenite Sands, Monazite Sands, And Tar Or Asphalt Sands)
0.0
1.2
201.3
96
0.2
4016 - Articles Of Vulcanised Rubber (Excl. Hard Rubber), N.E.S.
0.7
1.1
10.6
106
0.2
Products (H.S. 4)
Sources: UNComtrade, OECD, ES Research – Sectoral Research.
ISKO Cape Verde International Premium Unit/ ES Research – Sectoral Research
24
CAPE VERDE
Goods export opportunities (III) Cloud of Export Opportunities to Cape Verde
Textiles, Clothing and Footwear
Agricultural and food products
6403 - Footwear with outer soles of rubber, plastics, leather or composition leather and uppers of leather (excl. orthopaedic footwear, skating boots with ice or roller skates attached, and toy footwear)
2002 – Tomatoes prepared or preserved (except in vinager or acetic acid)
2205 - Vermouth and other wine of fresh grapes, flavoured with plants or aromatic substances
2103 - Sauce and preparations therefor; mixed condiments and mixed seasonings; mustard flour and meal, whether or not prepared, and mustard
1604 - Prepared or preserved fish; caviar and caviar substitutes prepared from fish eggs
2008 - Fruits, nuts and other edible parts of plants, prepared or preserved, whether or not containing added sugar or other sweetening matter or spirit (excl. prepared or preserved with vinegar, preserved with sugar but not laid in syrup, and jams, fruit jellies, marmalades, fruit purée and pastes, obtained by cooking)
Ceramics and glass
Other sectors
7010 - Carboys, bottles, flasks, jars, pots, phials, ampoules and other containers, of glass, of a kind used for the conveyance or packing of goods, preserving jars, stoppers, lids and other closures, of glass
7310 - Tanks, casks, drums, cans, boxes and similar containers, of iron or steel, for any material "other than compressed or liquefied gas", of a capacity of