The trade deficit in January-June 2024 was pound 3,571.8 mn compared to pound 4,478 mn in the corresponding period of 2023, recording a decrease by 20.23%, according to data published on Friday by the Statistical Service.
Total imports of goods during this period amounted to pound 5,557.7 mn as compared to pound 6,494.9 mn in January-June 2023, recording a decrease of 14.4%. Total exports of goods in January-June 2024 were pound 1,985.9 mn compared to pound 2,016.9 mn in January-June 2023, registering a decrease of 1.5%.
According to provisional data for June, total imports of goods were pound 896.9 mn as compared to pound 1,059.5 mn in June 2023, recording a decrease of 15.3%. Imports from other EU Member States were pound 538.9 mn and from third countries pound 358 mn, compared to pound 615.5 mn and pound 444 mn respectively in June 2023.
Imports in June 2024 include the transfer of economic ownership of vessels, with total value of pound 70.4 mn as compared to pound 78,8 mn in June 2023.
Total exports
of goods in June 2024 were pound 449 mn as compared to pound 321 mn in June 2023, recording an increase of 39.9%. Exports to other EU Member States were pound 126 mn and to third countries pound 323 mn, compared to pound 120.6 mn and pound 200.4 mn respectively in June 2023.
Exports in June 2024 include the transfer of economic ownership of vessels, with total value of pound 159.7 mn as compared to pound 83.4 mn in June 2023.
The Statistical Service has also published the final data for May 2024. Total imports of goods amounted to pound 1,037.4 mn, as compared to pound 1,000 mn in May 2023, recording an increase of 3.7%.
Exports of domestically produced products, including stores and provisions, in May 2024 were pound 192.1 mn as compared to pound 240.7 mn in May 2023, recording a decrease of 20.2%. Domestic exports of industrial products in May 2024 were pound 175.8 mn compared to pound 227.9 mn in May 2023, whilst domestic exports of agricultural products in May 2024 were pound 14.9 mn compared to pound
11.6 mn in May 2023.
Exports of foreign products, including stores and provisions, in May 2024 were pound 148.7 mn as compared to pound 181.1 mn in May 2023, recording a decrease of 17.9%.
Source : Cyprus News Agency