Cape Verde Trade Deficit Spikes 255% on Aircraft Imports
Cape Verde’s trade deficit surged by a staggering 255.5% in the third quarter of 2026, a spike driven almost entirely by the high-value import of aircraft engines, according to the archipelago’s National Statistics Institute (INE).
A Surge Driven by Aviation Equipment
The trade balance deficit widened from 49.2 billion escudos (approximately €447 million) in the third quarter of 2025 to 175.1 billion escudos (€1.6 billion) during the same period this year. While the figures are startling, the INE clarified that the deterioration does not signal a systemic economic crisis but rather a one-off “specific equipment import operation.”
Specifically, the category of “reactors and boilers” accounted for a massive 66.4% of all total imports. When pressed for details, the INE confirmed to Lusa that this surge was “essentially influenced by the import of reciprocating or rotary internal combustion piston engines for aviation, coming from Portugal.”
The institute emphasized that this spike represents a single large-scale purchase rather than a permanent trend in domestic consumption.
Trade Ties with Portugal Strengthen
Portugal remains Cape Verde’s most vital economic partner, acting as the supplier for nearly three-quarters of all goods entering the archipelago. Following aviation equipment, the country’s other primary imports included fuels (17.1%) and motor vehicles (1.8%).
Exports Show Modest Growth
While imports dominated the headlines, Cape Verdean exports showed a healthy year-on-year increase of 11.8%. Despite the growth, the export sector remains small in scale, totaling 2.6 billion escudos (€24 million). Europe remains the primary destination for Cape Verdean goods, with fish and canned products continuing to lead the nation’s foreign sales.
Image: Pexels – Mico Medel
