Trade deficit drops to Euros 2.2 billion in first seven months of 2018

The trade deficit fell by 14.4% to Euros 2.2 billion in the first seven months of this year down from nearly Euros 2.6 billion at the same period last year, data released by the Cyprus Statistical Service, on Monday, show.

According to the data total imports in January – July 2018 amounted to Euros 5,230.6 mn as compared to Euros 4,402.9 mn in January – July 2017.

On the other hand, total exports, covering total exports to third countries and EU member states, in January – July 2018 were Euros 3,009.7 mn compared to Euros 1,807.5 mn in January – July 2017.

The trade deficit was Euros 2.220,9 mn in January-July 2018 compared to Euros 2.595,4 mn at the same period of 2017.

According to the data total exports of domestically produced goods, excluding stores and provisions, in January – July 2018 were Euros 929.8 mn compared to Euros 727.6 mn in January – July 2017.

Total domestic exports of industrial products in January – July 2018 were Euros 857.4 mn compared to Euros 643.6 mn in January – July 2017.

Total domestic exports of agricultural products in January – July 2018 were Euros 66.2 mn compared to Euros 72.5 mn in January – July 2017.

Source: Cyprus News Agency