Cyprus strikes negative trade balance of -2.5 billion euro during January-July 2016

The first estimate for euro area (EA19) exports of goods to the rest of the world in July 2016 was Euros 167.2 billion, a decrease of 10% compared with July 2015 (Euros 185.4 bn). Imports from the rest of the world stood at Euros 142.0 bn, a fall of 8% compared with July 2015 (Euros 154.4 bn). As a result, the euro area recorded a Euros 25.3 bn surplus in trade in goods with the rest of the world in July 2016, compared with +Euros 31.1 bn in July 2015. Intra-euro area trade fell to Euros 137.3 bn in July 2016, down by 7% compared with July 2015.

For Cyprus total exports worth was 0.9 billion in the first six months of the year, but still are down by -16% compared to same period of 2015. Meanwhile total imports cost 3.4 billion, an increase of 16%, counting for a trade balance of -2.5 billion euro in the period January to July (-2.2 with the EU and -0.3 with the rest of the world).

Source: Cyprus News Agency.