Despite a greater percentage increase in exports compared to imports, the trade deficit increased in 2021 by €349 million compared to 2020, reaching €5.24 billion, with the European Union being the main source of supply of goods to Cyprus with €5.51 billion of total imports.
According to the Cyprus Statistical Service, the trade deficit amounted to €5,244.5 million for the period January – December 2021, compared to €4,895.5 million in the corresponding period of 2020.
In particular, total imports of goods (from EU Member States and third countries) for the period January – December 2021 were €8,531.2 million, compared to €7,642.1 million for the period January – December 2020, an increase of 11.6%.
Total exports of goods (to EU Member States and third countries) for the period January – December 2021 were €3,286.7 million compared to €2,74
Source: Cyprus News Agency