Methodological and statistical changes lead to upward revision of trade deficit

The trade deficit increased by Euros 157.2 million in the two months of January and February, according to revised figures, released on Monday by the Statistical Service, due to methodological and statistical changes.

The deficit in the first two months of the year was revised upwards, to Euros 779.9 million, from Euros 622.7 million previously.

The increase of the deficit is a result of further increase, on the basis of the new methodology, in imports by Euros 184.6 million and a lower increase in exports, by Euros 27.4 million.

Based on the revised figures, the imports reached Euros 1.12 billion, from Euros 938.8 million previously, while the exports increased to Euros 343.5 million, from Euros 316.1 million.

Source: Cyprus News Agency