Trade deficit declines by Euros 350 mln in 2018 compared to last year

Trade deficit declined by almost Euros 350 mln in 2018, compared to 2017, according to data released today by the Statistical Service of the Republic of Cyprus. The reduction is attributed to the rise of exports by almost Euros 1.26 bln

In particular, the trade deficit was Euros 4,897 mln in January-December 2018 compared to Euros 5,247.8 mln in the corresponding period of 2017.

Total imports in January-December 2018 amounted to Euros 9,160.6 mln as compared to Euros 8,216.2 mln in January-December 2017.

Total exports (covering total exports to third countries and to EU Member States) in January-December 2018 were Euros 4.263,6 mn compared to Euros 2.968,4 mn in January-December 2017.

According to the Statistical Service, total exports of domestically produced goods, excluding stores and provisions, in January – December 2018 were Euros 1,561.7 mln compared to Euros 1,226.6 mln in January – December 2017.

Total domestic exports of industrial products in January – December 2018 were Euros 1,449.6 mln compared to Euros 1,107.5 mln in January – December 2017.

Total domestic exports of agricultural products in January – December 2018 were Euros 92.2 mln compared to Euros 99.1 mln in January – December 2017.

Source: Cyprus News Agency