Cyprus trade deficit down by 33% in January 2019

Cyprus’ trade deficit in January 2019 declined to Euros 277.6 million, marking a reduction of 33% compared to 416.4 million in January 2018.

The reduction is mainly due to rising exports, associated with exports of stores and provisions for ships and aiplanes.

According to Cystat’s Intra-Extra EU Trade Statistics (by commodity and country) for January 2019 total imports in January 2019 amounted to Euros 811.2 mn as compared to Euros 621.9 mn in January 2018.

Total exports (covering total exports to third countries and to EU Member States) in January 2019 amounted to Euros 533.6 mn compared to Euros 205.5 mn in January 2018.

Furthermore, total exports of domestically produced goods, excluding stores and provisions, in January 2019 reached Euros 74.5 mn compared to Euros 115.2 mn in the respective period of 2018.

Total domestic exports of industrial products in January 2019 were Euros 66.5 mn compared to Euros 106 mn in January 2018.

According to Cystat, total domestic exports of agricultural products in January 2019 were Euros 6.4 mn compared to Euros 8.0 mn in January 2018

Source: Cyprus News Agency