Cyprus trade deficit rises by 6.22% in January – April 2019

Cyprus’ trade deficit for the period of January to April 2019 rose by 6.22% amounting to Euros 1.45 billion compared with Euros 1.36 billion in the respective period of 2018, Cyprus Statistical Service (Cystat) has said.

According to Cystat, total imports (covering total imports from third countries and from EU Member States) in January-April 2019 amounted to Euros 2,622.2 million compared to Euros 2,978.8 mn in January-April 2018.

Total exports (covering total exports to third countries and to EU Member States) in January-April 2019 reached Euros 1,172.5 mn compared to Euros 1,614, mn in January-April 2018.

Net deficit at Euros 1,54 billion Cystat noted that total imports in January-April 2019 include the transfer of economic ownership of mobile transport equipment (vessels), with a total value of Euros 432.8 mn as compared to Euros 737.2 mn in January-April 2018, while total exports in January-April 2019 include the transfer of economic ownership of mobile transport equipment (vessels) amounting to Euros 528,1 mn as compared to Euros 742,5 mn in January-April 2018.

Adjusting for the transfer of economic ownership, which mostly relates with shipping industry that is foreign-owned, the net trade deficit for the period of January � April 2019 amounted to Euros 1.54 billion, marking an increase of 13% compared with Euros 1.37 billion in the respective period of 2018.

In April total imports (covering total imports from third countries and from EU Member States) valued at Euros 645,9 mn as compared to Euros 1.014,9 mn in April 2018, Cystat noted.

Total exports (covering total exports to third countries and to EU Member States), including stores and provisions, in April 2019 amounted to Euros 241,0 mn as compared to Euros 335,2 mn in April 2018.

Exports of domestically produced goods, including stores and provisions in April 2019 were Euros 128,1 mn as compared to Euros 128,1 mn in April 2018 whilst exports of foreign goods, including stores and provisions, in April 2019 were Euros 112,9 mn as compared to Euros 207,1 mn in April 2018. Total domestic exports of industrial products in April 2019 were Euros 111,5 mn compared to Euros 114,2 mn in April 2018.

Total domestic exports of agricultural products in April 2019 were Euros 14,1 mn compared to Euros 11,9 mn in April 2018, Cystat noted.

Source: Cyprus News Agency