Trade deficit declines significantly in first three months

The trade deficit declined by Euros 591,7 mn in the first three months of the year, due to an increase in exports, figures released by the Statistical Service showed on Thursday.

According to the monthly electronic publication Intra-Extra EU Trade Statistics (by commodity and country), the trade deficit stood at Euros 677,1 mn in January – March 2018 compared to Euros 1.268,8 mn in the corresponding period of 2017.

Total imports between January – March 2018 amounted to Euros 1.946,0 mn compared to Euros 1.869,8 mn the same period last year, while total exports in the first three months of the year stood at Euros 1.268,9 mn compared to Euros 601,0 mn in the same period of 2017.

Total exports of domestically produced goods, excluding stores and provisions, in January – March 2018 were Euros 308,8 mn compared to Euros 310,4 mn in January – March 2017. Total domestic exports of industrial products in January – March 2018 were Euros 275,3 mn compared to Euros 276,9 mn in January – March 2017. Total domestic exports of agricultural products in January – March 2018 were Euros 31,1 mn compared to Euros 28,1 mn in January – March 2017.

Source: Cyprus News Agency