Cyprus registers 1.3 billion euro trade deficit in April 2018

The first estimate for Cyprus exports of goods to the rest of the world in April 2018 was Euros 1.6 billion, an increase of 99% compared with April 2017 (Euros 0.4 billion to the EU or 6% increase and Euros 1.2 billion ouside the EU or 167% increase).

Imports from the rest of the world stood at Euros 2.9 billion a 19% increase (Euros 1.6 biilion from the EU, 11% increase and Euros 1.3 outside the EU or 32% increase).

As a result Cyprus registered a trade deficit of Euros -1.3billion, (compared to Euros -1.6 billion in April 2017), Euros -1.3 billion with the EU (compared to Euros -1.1 billion in April 2017) and Euros 0.0 with the rest of the world (compared to Euros -0.5 billion in April 2017).

Meanwhile the first estimate for euro area (EA19) exports of goods to the rest of the world in April 2018 was Euros 182.9 billion, an increase of 8.0% compared with April 2017 (Euros 169.3 bn). Imports from the rest of the world stood at Euros 166.2 bn, a rise of 8.1% compared with April 2017 (Euros 153.7 bn).

As a result, the euro area recorded a Euros 16.7 bn surplus in trade in goods with the rest of the world in April 2018, compared with +Euros 15.7 bn in April 2017. Intra-euro area trade rose to Euros 157.4 bn in April 2018, up by 9.8% compared with April 2017.

In January to April 2018, euro area exports of goods to the rest of the world rose to Euros 738.2 bn (an increase of 3.8% compared with January-April 2017), while imports rose to Euros 673.8 bn (an increase of 3.2% compared with JanuaryApril 2017). As a result the euro area recorded a surplus of Euros 64.4 bn, compared with +Euros 58.7 bn in January-April 2017. Intra-euro area trade rose to Euros 644.4 bn in January-April 2018, up by 5.7% compared with January-April 2017.

The first estimate for extra-EU28 exports of goods in April 2018 was Euros 154.8 billion, up by 6.8% compared with April 2017 (Euros 144.9 bn). Imports from the rest of the world stood at Euros 155.9 bn, up by 6.6% compared with April 2017 (Euros 146.3 bn). As a result, the EU28 recorded a Euros 1.0 bn deficit in trade in goods with the rest of the world in April 2018, compared with -Euros 1.4 bn in April 2017. Intra-EU28 trade rose to Euros 283.8 bn in April 2018, +9.2% compared with April 2017.

In January to April 2018, extra-EU28 exports of goods rose to Euros 625.7 bn (an increase of 2.7% compared with January-April 2017), while imports rose to Euros 634.0 bn (an increase of 2.3% compared with January-April 2017). As a result, the EU28 recorded a deficit of Euros 8.3 bn, compared with -Euros 10.4 bn in January-April 2017. Intra-EU28 trade rose to Euros 1 160.2 bn in January-April 2018, +5.2% compared with January-April 2017.

Source: Cyprus News Agency