Cyprus trade deficit for the period of January – July 2022 reached €4.46 billion, marking an annual increase of 41% compared with the respective period of last year, according to provisional data published by the Statistical Service of Cyprus (Cystat).
Total imports of goods (from EU Member States and from third countries) rose by 38.4% year on year reaching €6,700.1 mn compared with €4,84.2 mn in January – July 2021. Total exports of goods (to EU Member States and to third countries) in January – July 2022 amounted to €2,238.9 mn compared to €1,67.1 mn in the respective period of last year, registering an increase of 33.5%.
The trade deficit amounted to €4,461.2 mn in January – July 2022 compared to €3,165.1 mn in the corresponding period of 2021.
In July total imports of goods amounted to €1,027.4 mn as compared with €78.,3 mn in July 2021, recording an increase of 31.3%. Imports from other EU Member States in July 2022 were €595.4 mn and from third countries €432.1 mn, compared to €55.9 mn and €224.3 mn respectively in July 2021.
Imports in July 2022 included the transfer of economic ownership of mobile transport equipment (vessels and aircrafts), with total value of €100.7 mn as compared to €75.3 mn in July 2021.
Total exports of goods in July 2022 were €416.2 mn as compared to €352.1 mn in July 2021, recording an increase of 18.2%. Exports in July 2022 include the transfer of economic ownership of mobile transport equipment (vessels), with total value of €130.4 mn as compared to €121.1 mn in July 2021.
Total imports were €1,027.4 mn compared to €78.3 mn in July 2021, accelerating by an annual 31.3%, Cysat added. Imports in July 2022 included the transfer of economic ownership of mobile transport equipment (vessels and aircrafts), with total value of €100.7 mn compared to €75.3 mn in July 2021.
Furthermore, according to the final data on June 2022, total imports of goods (from EU Member States and from third countries) amounted to €1,199.6 mn in June 2022 compared to €765.7 mn in June 2021, recording an increase of 56.7%.
Exports of domestically produced products, including stores and provisions, in June 2022 were €138.0 mn compared with €145.5 mn in June 2021, recording a decrease of 5.2%. Domestic exports of industrial products in June 2022 were €128.5 mn compared to €138.2 mn in June 2021, whilst domestic exports of agricultural products in June 2022 amounted to €8.4 mn compared to €6.1 mn in June 2021.
Exports of foreign products, including stores and provisions, in June 2022 were €155.3 mn as compared to €151.1 mn in June 2021, recording an increase of 2.8%, Cystat added.
Source: Cyprus News Agency