Key Market Indicators
Cabo Verde's truck import market is poised for significant growth over the next five years. According to recent projections, the country's truck imports are expected to reach approximately $14.6 million by 2028, up from an estimated $13.7 million in 2023. This represents an average annual growth rate of 1.1%. Despite this positive outlook, it's important to note that since 2002, Cabo Verdean demand for trucks has actually seen a slight decline, averaging a 0.2% decrease each year. The evolving trends in truck imports suggest a shift in market dynamics, reflecting both economic factors and changing consumer needs. As Cabo Verde continues to develop, the demand for trucks is anticipated to follow this upward trajectory, potentially spurring further economic activity and infrastructure development in the region.