Cyprus trade deficit shrinks in January

Exports grew more than imports did in January, narrowing the trade deficit of Cyprus by Euros 138,8 mn.

The Statistical Service reported on Thursday that the trade deficit was Euros 277,6 mn in January 2019 compared with Euros 416,4 mn in the corresponding month of 2018.

The data agency said that total imports in January 2019 stood at Euros 811,2 mn compared with Euros 621,9 mn in January 2018, while total exports in January 2019 rose to Euros 533,6 mn compared with Euros 205,5 mn in January 2018.

Total imports in January 2019 include the transfer of economic ownership of mobile transport equipment (vessels), with total value of Euros 298,0 mn compared with Euros 70,0 mn in January 2018. Total exports in January 2019 include the transfer of economic ownership of mobile transport equipment (vessels), with total value of Euros 409,0 mn compared with Euros 20,4 mn in January 2018, said Cystat.

It added that exports of domestically produced goods, including stores and provisions in January 2019 stood at Euros 75,4 mn compared with Euros 116,0 mn in January 2018 whereas exports of foreign goods, including stores and provisions, in the first month of 2019 were Euros 458,2 mn compared with Euros 89,5 mn in the same month of 2018.

Total domestic exports of industrial products in January 2019 were Euros 66,5 mn compared with Euros 106,0 mn in January 2018 and total domestic exports of agricultural products in January 2019 were Euros 6,4 mn compared with Euros 8,0 mn in January 2018.

Source: Cyprus News Agency