Trade deficit declines in the first two months of the year

Cyprus trade deficit narrowed by Euros 180 mn in the first two months of the year and stood at Euros 658,0 mn compared with Euros 838,0 mn in the corresponding period of 2018, the Statistical Service said on Thursday.

According to Cystat, total imports in January-February 2019 increased to Euros 1.370,4 mn compared with Euros 1.233,9 mn in January-February 2018, while total exports rose to Euros 712,4 mn from Euros 395,9 mn in the same period of 2018.

In February 2019 total imports fell to Euros 559,2 mn compared with Euros 612,1 mn in February 2018.

Total exports, including stores and provisions, in the second month of 2019 decreased to Euros 178,8 mn compared with Euros 190,4 mn in February 2018. Exports of domestically produced goods, including stores and provisions in February 2019 also decreased to Euros 87,5 mn from Euros 89,9 mn in the same month of the previous year whilst exports of foreign goods, including stores and provisions, in February 2019 fell to Euros 91,3 mn compared with Euros 100,5 mn in February 2018. Total domestic exports of industrial products in the second month of 2019 were down to Euros 75,3 mn from Euros 77,6 mn in February 2018. Total domestic exports of agricultural products in February 2019 fell to Euros 10,1 mn compared with Euros 10,4 mn in February 2018.

Source: Cyprus News Agency