Trade deficit reduces in 2018 according to preliminary data

Trade deficit for 2018 shows a reduction compared to 2017, according to preliminary data released on Monday by the Statistical Service of Cyprus.

According to the data trade deficit for the period January – December 2018 is Euros 4.8 billion, compared to Euros 5.2 billion in the corresponding period of 2017.

Based on the preliminary estimates for Cypruss foreign trade, total imports amounted to Euros 9.1 billion in 2018 compared to Euros 8.2 billion in 2017, while total exports amounted to Euros 4.2 billion in 2018 compared with Euros 2.9 billion in 2017.

In December 2018, total imports were Euros 820.1 mn as compared to Euros 725.3 mn in December 2017. Imports from other EU Member States in December 2018 were Euros 380.0 mn as compared to Euros 453.2 mn in December 2017. Imports from Third Countries in December 2018 were Euros 440.1 mn as compared to Euros 272.0 mn in December 2017.

Total exports in December 2018 were Euros 163.7 mn as compared to Euros 232.9 mn in December 2017. Exports to other EU Member States in December 2018 were Euros 58.9 mn as compared to Euros 81.2 mn in December 2017. Exports to Third Countries in December 2018 were Euros 104.7 mn as compared to Euros 151.7 mn in December 2017.

Total imports in December 2018 include the transfer of economic ownership of mobile transport equipment (vessels), with total value of Euros 316.6 mn. as compared to Euros 161.1 mn in December 2017. Total exports in December 2018 include the transfer of economic ownership of mobile transport equipment (vessels), with total value of Euros 16.2 mn. as compared to Euros 74.7 mn in December 2017.

Source: Cyprus News Agency