Cyprus registers -0.7 billion euro trade deficit between January and March 2018

Cyprus registers exports worth in total of Euros 1.2 billion for the period January March 2018, a 112% compared to the same period of 2017, according to Eurostat, the statistical service of the EU. More specifically Cyprus exported Euros 0.2 billion within the EU (7% increase) and Euros 1.0 billion outside the EU (increase of 177%). At the same time Cyprus registered a Euros 1.9 billion worth of imports, or 4% increase compared to the same period of 2017 (Euros 1.1 billion form the EU, or 5% increase and Euros 0.8 billion outside the EU, or 3% increase). As a result Cyprus end up with a -Euros 0.7billion trade deficit, instead of -Euros 1.2 billion for the same period last year.

Meanwhile, the first estimate for euro area (EA19) exports of goods to the rest of the world in March 2018 was Euros 199.9 billion, a decrease of 2.9% compared with March 2017 where they peaked at Euros 205.9 bn. Imports from the rest of the world stood at Euros 173.0 bn, a fall of 2.5% compared with March 2017 (Euros 177.4 bn). As a result, the euro area recorded a Euros 26.9 bn surplus in trade in goods with the rest of the world in March 2018, compared with +Euros 28.5 bn in March 2017. Intra-euro area trade fell to Euros 170.5 bn in March 2018, down by 0.6% compared with March 2017.

In January to March 2018, euro area exports of goods to the rest of the world rose to Euros 555.7 bn (an increase of 2.5% compared with January-March 2017), while imports rose to Euros 506.3 bn (an increase of 1.4% compared with January-March 2017). As a result the euro area recorded a surplus of Euros 49.4 bn, compared with +Euros 42.9 bn in January-March 2017. Intra-euro area trade rose to Euros 485.6 bn in January-March 2018, up by 4.1% compared with January-March 2017.

Source: Cyprus News Agency