The trade deficit increased to pound 3,112 mn in January-April 2023, compared to pound 2,178.4 mn in the corresponding period of 2022, according to data published by the Statistical Service of Cyprus (CyStat), on Friday.
Total imports of goods during this period amounted to pound 4,363 mn compared to pound 3,305 mn in January-April 2022, recording an increase of 32%. Total exports of goods in January-April 2023 were pound 1,251 mn compared to pound 1,126.7 mn in January-April 2022, registering an increase of 11%.
According to provisional data, in April 2023 total imports of goods were pound 872.1 mn as compared to pound 838.6 mn in April 2022, recording an increase of 4%. Imports from other EU Member States were pound 538.1 mn and from third countries pound 334 mn, compared to pound 538 mn and pound 300.6 mn respectively in April 2022. Imports in April 2023 include the transfer of economic ownership of mobile transport equipment (vessels), with total value of pound 78.5 mn as compared to pound 36.4 mn in April 2022.
Total exports of goods in April 2023 were pound 302.1 mn as compared to pound 279 mn in April 2022, recording an increase of 8.3%. Exports to other EU Member States were pound 77.5 mn and to third countries pound 224.6 mn, compared to pound 85.3 mn and pound 193.7 mn respectively in April 2022. Exports in April 2023 include the transfer of economic ownership of mobile transport equipment (vessels), with total value of pound 102.7 mn as compared to pound 35.5 mn in April 2022.
CyStat also published the final data for foreign trade regarding March 2023. Total imports of goods amounted to pound 1,001.1 mn in March 2023 as compared to pound 979 mn in March 2022, recording an increase of 2.3%. Exports of domestically produced products, including stores and provisions, in March 2023 were pound 163.4 mn as compared to pound 157 mn in March 2022, recording an increase of 4.1%.
Domestic exports of industrial products in March 2023 were pound 152.3 mn compared to pound 146.4 mn in March 2022, whilst domestic exports of agricultural products in March 2023 were pound 10.1 mn compared to pound 9.9 mn in March 2022. Exports of foreign products, including stores and provisions, in March 2023 were pound 210.1 mn compared to pound 167.4 mn in March 2022, recording an increase of 25.5%
Source: Cyprus News Agency