Cyprus trade deficit declines to Euros 3.05 billion

Cyprus trade deficit declined to Euros 3.05 billion for the period of January � September 2018, as export growth surpassed imports, data released by the Statistical Service show.

The island’s trade deficit declined by 5.6% to Euros 3,049.5 million in January-September 2018 compared to Euros 3,231.9 ml in the respective period of 2017.

Total imports in January-September 2018 rose by 18.5% to Euros 6,586.8 ml as compared to Euros 5,556.6 ml in January-September 2017.

Total exports (covering total exports to third countries and to EU Member States) in January-September 2018 spiked by 45.3% to Euros 3,537.3 ml compared to Euros 2,324.8 ml in January-September 2017.

According to Cystat, total exports of domestically produced goods, excluding stores and provisions, in January – September 2018 were Euros 1,255.8 ml compared to Euros 904.0 ml in January – September 2017.

Total domestic exports of industrial products in January – September 2018 were Euros 1,172.9 ml compared to Euros 808.0 ml in January – September 2017.

Total domestic exports of agricultural products in January – September 2018 were Euros 75.0 mn compared to Euros 81.9 ml in January – September 2017, Cystat added.

Source: Cyprus News Agency