Cabo Verde: Merchandise exports to low- and middle-income economies within region (% of total merchandise exports)

Key figures

What the numbers say

In 2023, Cabo Verde's merchandise exports to low- and middle-income economies within region (% of total merchandise exports) fell 6.78 percentage points on 2022 (from 16.01% to 9.23%).

Across the 30 yearly changes before that (1993 to 2022), the average change was +0.2 percentage points and a typical year strayed about 7.48 percentage points from that (the standard deviation). This year's change was 0.9 standard deviations below that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.

On record, the biggest yearly rise was 24.67 percentage points in 1984 and the biggest yearly fall was 37.8 percentage points in 1989. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.

From 2014 to 2023 the straight-line trend is upward, about 1.39 percentage points a year. A straight line explains 60% of the movement over 10 observed years.

Worked out from the yearly values above. How the checks work: standard deviation, z-scores and straight-line trends.

How it compares

In 2023, Cabo Verde had the 121st highest value of the 201 economies reporting that year. Higher is not always better: for some indicators the lowest value is the one to aim for. See the full ranking.

Closest to Cabo Verde in the 2023 ranking

• Ecuador — 118th of 201: 9.5%
• Peru — 119th of 201: 9.27%
• Türkiye — 120th of 201: 9.26%
• Latvia — 122nd of 201: 9.01%
• Slovenia — 123rd of 201: 8.9%
• St. Kitts and Nevis — 124th of 201: 8.81%

What this measures

Merchandise exports to low- and middle-income economies within region are the sum of merchandise exports from the reporting economy to other low- and middle-income economies in the same World Bank region as a percentage of total merchandise exports by the economy. Data are computed only if at least half of the economies in the partner country group had non-missing data. No figures are shown for high-income economies, because they are a separate category in the World Bank classification of economies.

Limitations: Data on exports and imports are from the International Monetary Fund's (IMF) Direction of Trade database and should be broadly consistent with data from other sources, such as the United Nations Statistics Division's Commodity Trade (Comtrade) database. All high-income economies and major low- and middle-income economies report trade data to the IMF on a timely basis, covering about 85 percent of trade for recent years. Trade data for less timely reporters and for countries that do not report are estimated using reports of trading partner countries. Therefore, data on trade between developing and high-income economies should be generally complete.

Regional and income-group figures are computed by the World Bank as a weighted average.

All 52 values

Merchandise exports to low- and middle-income economies within region (% of total merchandise exports) in nearby economies

• Angola — 5.45% (2023)
• Benin — 16.4% (2023)
• Botswana — 15.53% (2023)
• Burkina Faso — 14.86% (2023)
• Burundi — 42.58% (2023)
• Cameroon — 12.43% (2023)
• Central African Republic — 6.42% (2023)

More private sector & trade data for Cabo Verde

• Merchandise imports (current US$) — US$2.04 billion (2025)
• Merchandise exports (current US$) — US$96 million (2025)
• Merchandise imports from high-income economies (% of total merchandise imports) — 83.8% (2023)
• Merchandise imports from low- and middle-income economies in Sub-Saharan Africa (% of total merchandise imports) — 0.69% (2023)
• Merchandise imports by the reporting economy, residual (% of total merchandise imports) — 0% (2023)
• Merchandise imports by the reporting economy (current US$) — US$1.74 billion (2023)
• Merchandise imports from low- and middle-income economies within region (% of total merchandise imports) — 0.69% (2023)

Reading data like this

• Where to find free public data, and how to check it before you trust it — 2 min read
• Data analysis examples: 6 worked from one dataset — 3 min read
• Real change or random noise? A plain guide to reading your numbers — 2 min read

Questions people ask

What is Cabo Verde's merchandise exports to low- and middle-income economies within region (% of total merchandise exports)?

9.23% in 2023, according to the World Bank (World Development Indicators).

How has it changed since 1970?

It is up 2.09 percentage points from 7.14% in 1970. The highest value was 41.18% in 1977 and the lowest 0.00138% in 1998.

How does Cabo Verde rank?

121st highest of 201 economies with data for 2023.

Is the latest change in merchandise exports to low- and middle-income economies within region (% of total merchandise exports) unusual for Cabo Verde?

Source

World Bank, World Development Indicators, indicator TX.VAL.MRCH.WR.ZS, licensed CC BY 4.0. Original source: Staff estimates, World Bank (WB); Direction of Trade database, International Monetary Fund (IMF) Figures are fetched from the World Bank API and refreshed monthly; see the series on data.worldbank.org. The full definition and method are in the World Bank's metadata glossary. Comparisons use the same World Bank release.

Want to ask your own questions of data like this? Try AnalyzeIt: upload a file or ask about public data in plain words, and every figure comes with its working.