Similarly to previous months, the percentage change was the most significant aspect of the report featuring the external trade price index.
On the import side, prices decreased by 3.5% year-on-year.
The Terms of Trade Index (TTI) stood at 111.1 points, marking a 16.4% increase from February 2024.
Canned and frozen fish constitutes more than two-thirds of Cape Verde’s merchandise exports, primarily targeting the European Union (EU), with Spain being the chief buyer.
Nevertheless, overall, they account for only one-tenth of what Cape Verde exports in services, with tourism, travel, and related activities serving as the primary driver of the archipelago’s economy — whose consumer goods are almost entirely reliant on imports.
The data from the External Trade Price Indices bulletin are sourced by the National Institute of Statistics (INE) from administrative records.
The indices are measured in unit values from a base value of 100 points set in 2015.
In March, the export price index stood at 151.7 points, while the import price index was at 136.6 points.
