Cyprus records a negative trade balance of Euros -1.4 billion in the first 4 months of 2019

The total value of the exports of Cyprus reached the Euros 1.2 billion, a drop of -28% compared to the same period of last year (Euros 0.7billion in the EU, or 96% increase and Euros 0.4 billion with the rest of the world, or -64% drop), according to Eurostat, the statistical service of the EU.

The total value of imports was Euros 2.6 billion, or -12% drop compared to the same period of last year (Euros 1.7 billion from the EU -1% drop and Euros 0.9 billion from the rest of the world or -28% drop). As a result Cyprus records a negative trade balance of Euros -1.4 billion exactly as last year (Euros -1.0 billion with the EU instead of Euros -1.3 and Euros -0.5 with the rest of the world instead of 0.0)

The total value of exports of Greece reached Euros 10.9 billion, a 4% increase compared to last year, Euros 6.0 billion to the EU or 7% increase and Euros 5.0 billion of the rest of the world or 2% increase. At the same time, imports reached Euros 18.6 billion, a 6% increase (Euros 9.6 from the EU or 7% increase and Euros 8.9 billion from the rest of the world or 5% increase). As a result Greece recorded a Euros -7.6 billion trade deficit, compared to Euros -7.1 billion last year (Euros -3.6 billion with the EU, instead of Euros -3.4 and Euros -4.0 billion with the rest of the world instead of Euros -3.7).

Meanwhile, the first estimate for euro area (EA19) exports of goods to the rest of the world in April 2019 was Euros 192.9 billion, an increase of 5.2% compared with April 2018 (Euros 183.4 bn). Imports from the rest of the world stood at Euros 177.2 bn, a rise of 6.6% compared with April 2018 (Euros 166.3 bn). As a result, the euro area recorded a Euros 15.7 bn surplus in trade in goods with the rest of the world in April 2019, compared with + Euros 17.1 bn in April 2018. Intra-euro area trade rose to Euros 163.7 bn in April 2019, up by 3% compared with April 2018.

In January to April 2019, euro area exports of goods to the rest of the world rose to Euros 768.9 bn (an increase of 4.3% compared with January-April 2018), and imports rose to Euros 709.2 bn (an increase of 5.2% compared with January-April 2018). As a result, the euro area recorded a surplus of Euros 59.6 bn, compared with +Euros 63.6 bn in January-April 2018. Intra-euro area trade rose to Euros 665.8 bn in January-April 2019, up by 2.8% compared with January-April 2018.

The first estimate for extra-EU28 exports of goods in April 2019 was Euros 171.1 billion, up by 10.2% compared with April 2018 (Euros 155.3 bn). Imports from the rest of the world stood at Euros 169.7 bn, up by 8.6% compared with April 2018 (Euros 156.3 bn). As a result, the EU28 recorded a Euros 1.4 bn surplus in trade in goods with the rest of the world in April 2019, compared with a deficit of Euros 0.9 bn in April 2018. Intra-EU28 trade rose to Euros 291.2 bn in April 2019, +1.5% compared with April 2018.

In January to April 2019, extra-EU28 exports of goods rose to Euros 654.9 bn (an increase of 4.9% compared with January-April 2018), and imports rose to Euros 676.7 bn (an increase of 6.6% compared with January-April 2018). As a result, the EU28 recorded a deficit of Euros 21.7 bn, compared with -Euros 10.3 bn in January-April 2018. Intra-EU28 trade rose to Euros 1 208.8 bn in January-April 2019, +3.6% compared with January-April 2018.

Source: Cyprus News Agency