Trade deficit declines in first eight months of 2018

Exports drove Cyprus’ trade deficit down by Euros 314 mn in the first eight months of the year, figures released by the Statistical Service on Wednesday showed.

Cystat reported that the trade deficit declined to Euros 2.649,8 mn in January-August 2018 from Euros 2.963,8 mn in the corresponding period of 2017.

Total imports in January-August 2018 amounted to Euros 5.923,7 mn compared with Euros 5.025,6 mn in January-August 2017. Total exports to third countries and to EU member states stood at Euros 3.273,9 mn from Euros 2.061,8 mn in January-August 2017.

Total exports of domestically produced goods, excluding stores and provisions, in January – August 2018 increased to Euros 1.103,1 mn from Euros 814,9 mn in January – August 2017.

Total domestic exports of industrial products in January – August 2018 also increased to Euros 1.025,0 mn from Euros 725,4 mn in January – August 2017.

Total domestic exports of agricultural products in January – August 2018 declined to Euros 71,2 mn from Euros 76,8 mn in January – August 2017.

Source: Cyprus News Agency