Cyprus’ trade deficit jumped to €6.17 billion for the period from January to October 2022, surpassing deficit for full year 2022 amounting to €5.24 billion, amid price hikes mainly driven by the war in Ukraine.
According to provisional data issued by the Statistical Service of Cyprus (Cystat), total imports of goods were €901.5 mn as compared to €723.4 mn in October 2021, recording an increase of 24.6%.
Imports from other EU Member States in October 2022 were €558.3 mn and from third countries €343.2 mn, compared to €498.4 mn and €225.1 mn respectively in October 2021.
Imports in October 2022 include the transfer of economic ownership of mobile transport equipment (vessels), with total value of €53.4 mn as compared to €63.6 mn in October 2021.
Total exports of goods in October 2022 were €399.9 mn as compared to €462.5 mn in October 2021, recording a decrease of 13.5%.
Exports to other EU Member States in October 2022 were €79.4 mn and to third countries €320.5 mn, compared to €72.7 mn and €389.8 mn respectively in October 2021.
Exports in October 2022 include the transfer of economic ownership of mobile transport equipment (vessels), with total value of €136.3 mn as compared to €281.5 mn in October 2021.
According to Cystat, total imports of goods (from EU Member States and from third countries) in January – October 2022 amounted to €9.386.7 mn as compared to €6.991,0 mn in January – October 2021, recording an increase of 34,3%.
Total exports of goods (to EU Member States and to third countries) in January – October 2022 were €3.215.6 mn compared to €2.652,4 mn in January – October 2021, registering an increase of 21.2%.
The trade deficit was €6.171.1 mn in January – October 2022 compared to €4.338.6 mn in the corresponding period of 2021, recording an increase of 42%.
Source: Cyprus News Agency