Trade deficit increases in January-September 2017

Trade deficit of Cyprus’ foreign trade increased to Euros 3.165,5 mn in January-September 2017 compared to Euros 3.003,4 mn in the corresponding period of 2016, according to data released by the Statistical Service of Cyprus. The increase is mainly due to the increase in imports, although exports also increased compared to the same period of 2016.

Total imports (covering total imports from third countries and from EU Member States) in January-September 2017 amounted to Euros 5.434,4 mn as compared to Euros 5.085,3 mn in January-September 2016. Total exports (covering total exports to third countries and to EU Member States) in January- September 2017 were Euros 2.268,9 mn compared to Euros 2.081,9 mn in January-September 2016.

During September 2017 total imports (covering total imports from third countries and from EU Member States) valued at Euros 534,7 mn as compared to Euros 516,7 mn in September 2016.

Total exports (covering total exports to third countries and to EU Member States), including stores and provisions, in September 2017 amounted to Euros 261,8 mn as compared to Euros 270,7 mn in September 2016. Exports of domestically produced goods, including stores and provisions in September 2017 were Euros 89,6 mn as compared to Euros 91,8 mn in September 2016 whilst exports of foreign goods, including stores and provisions, in September 2017 were Euros 172,2 mn as compared to Euros 178,9 mn in September 2016. Total domestic exports of industrial products in September 2017 were Euros 82,8 mn compared to Euros 85,8 mn in September 2016. Total domestic exports of agricultural products in September 2017 were Euros 5,1 mn compared to Euros 4,2 mn in September 2016.

Preliminary estimated for October

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On the basis of preliminary estimates for Foreign Trade of Cyprus in October 2017, total imports were Euros 882,7 mn, of which Euros 420,9 mn were imports from other Member States of E.U. and Euros 461,8 mn imports from Third Countries.

Total exports were Euros 182,4 mn of which Euros 79,4 mn were exports to other Member States of E.U. and Euros 103,0 mn exports to Third Countries.

Source: Cyprus News Agency