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    09 January 2018

    Trade deficit widens to €4.6bn in January to November 2017

    Trade deficit widens to €4.6bn in January to November 2017

    Cyprus’ trade deficit widened 18% in January to November 2017 to €4.6bn or by €715.9m compared to the respective period of 2016, the statistical service said.

    The deterioration of the foreign trade balance in January to November was on a 14% annual increase of imports which rose to €7.3bn, Cystat said in a statement on its website on Tuesday. The increased imports more than offset a 6.6% increase in exports to €2.7bn.

    Imports from other European Union countries rose 0.3% to €4.3bn in the first 11 months of 2017 compared to a year before while exports dropped 19% to €995.1m, Cystat said. Imports from third countries rose 40% to over €3bn, while exports rose 31% to €1.7bn.

    Source: Cyprus Mail

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