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Trade deficit decreases by €314 million in January – August 2018

November 9, 2018 at 6:30pm

Trade deficit in the period January – August 2018 decreased by €314 million compared to the corresponding period of 2017.
According to a publication by the Statistical Service of Cyprus trade deficit was €2,649.8 mn in January-August 2018 compared to €2,963.8 mn in the corresponding period of 2017.

Total imports (covering total imports from third countries and from EU Member States) in January-August 2018 amounted to €5,923.7 mn as compared to €5,025.6 mn in January-August 2017. Total exports (covering total exports to third countries and to EU Member States) in January-August 2018 were €3,273.9 mn compared to €2,061.8 mn in January-August 2017.

During August 2018 total imports (covering total imports from third countries and from EU Member States) valued at €628.4 mn as compared to €622.7 mn in August 2017.

Total exports (covering total exports to third countries and to EU Member States), including stores and provisions, in August 2018 amounted to €264.2 mn as compared to €254.3 mn in August 2017. Exports of domestically produced goods, including stores and provisions in August 2018 were €174.2 mn as compared to €88.3 mn in August 2017 whilst exports of foreign goods, including stores and provisions, in August 2018 were €89.9 mn as compared to €166.1 mn in August 2017. Total domestic exports of industrial products in August 2018 were €167.6 mn compared to €81.8 mn in August 2017. Total domestic exports of agricultural products in August 2018 were €5.0 mn compared to €4.3 mn in August 2017.

Trade deficit increase in September

Moreover, on the basis of preliminary estimates, trade deficit increased by € 130 million in September 2018 reaching €397.7 ml compared to €268 ml in the corresponding month in 2017.

On the basis of preliminary estimates for the foreign trade of Cyprus in September 2018, total imports were €661.7 mn as compared to €531.0 mn in September 2017. Imports from other EU Member States in September 2018 were €371.5 mn as compared to €372.9 mn in September 2017. Imports from Third Countries in September 2018 were €290.2 mn as compared to €158.1 mn in September 2017.

Total exports in September 2018 were €264 mn as compared to €263 mn in September 2017. Exports to other EU Member States in September 2018 were €76.9 mn as compared to €71.0 mn in September 2017. Exports to Third Countries in September 2018 were €187.1 mn as compared to €192 mn in September 2017.

Total imports in September 2018 include the transfer of economic ownership of mobile transport equipment (vessels), with total value of €74.6 mn. as compared to €40.1 mn in September 2017. Total exports in September 2018 include the transfer of economic ownership of mobile transport equipment (vessels), with total value of €30.5 mn. as compared to €58.5 mn in September 2017.

(Cyprus News Agency)