Trade deficit increases in January-September 2017

Trade deficit of Cyprus’ foreign trade increased to €3.165,5 mn in January-September 2017 compared to €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 €5.434,4 mn as compared to €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 €2.268,9 mn compared to €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 €534,7 mn as compared to €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 €261,8 mn as compared to €270,7 mn in September 2016. Exports of domestically produced goods, including stores and provisions in September 2017 were €89,6 mn as compared to €91,8 mn in September 2016 whilst exports of foreign goods, including stores and provisions, in September 2017 were €172,2 mn as compared to €178,9 mn in September 2016. Total domestic exports of industrial products in September 2017 were €82,8 mn compared to €85,8 mn in September 2016. Total domestic exports of agricultural products in September 2017 were €5,1 mn compared to €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 €882,7 mn, of which €420,9 mn were imports from other Member States of E.U. and €461,8 mn imports from Third Countries.

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

source: CNA