Eurostat: Cyprus exports in August 2016 1.1 billion, down by -12% since last year

According to Eurostats first estimate for August 2016, Cyprus exports of goods to the rest of the world was 1.1 billion euro, a decrease -12% compared with August 2015. Out of that 0.5 billion where intra EU (decrease of -20%) and 0.5 extra EU exports (decrease -3%). Meanwhile, Imports amounted to 3.9 billion euro, 16% increase, compared with August 2015, of which 3.0 billion form the EU (increase 22%) and 0.9 billion from outside the EU (decrease -2%).

The overall trade balance for Cyprus was negative by -2.8 billion euro, (it was -2.2 billion in August 2015), -2.5 billion with the EU (-1.8 in August 2015) and -0.4 billion with the rest of the world (-0.3 in August 2015).

Meanwhile, the first estimate for euro area (EA19) exports of goods to the rest of the world in August 2016 was Euros 160.3 billion, an increase of 8% compared with August 2015 (Euros 148.1 bn).

Imports from the rest of the world stood at Euros 141.9 bn, a rise of 4% compared with August 2015 (Euros 136.9 bn). As a result, the euro area recorded a Euros 18.4 bn surplus in trade in goods with the rest of the world in August 2016, compared with +Euros 11.2 bn in August 2015. Intra-euro area trade rose to Euros 121.6 bn in August 2016, up by 6% compared with August 2015.

In January to August 2016, euro area exports of goods to the rest of the world stood at Euros 1 335.3 bn (a decrease of 1% compared with January-August 2015) and imports at Euros 1 156.6 bn (a decrease of 3% compared with January-August 2015). As a result the euro area recorded a surplus of Euros 178.7 bn, compared with +Euros 151.9 bn in January-August 2015. Intra-euro area trade remained stable at Euros 1 117.4 bn in January-August 2016 compared with January-August 2015.

Source: Cyprus News Agency.