According to data released by Eurostat, the total value of exports of Cyprus was for the first three months of 2014 €300 million, unchanged compared to the same period in 2013. Imports, on the other hand, decreased by 2%, reaching €1.1 billion.

The EU28 trade surplus increased with the USA (+€23.9 billion in January-March 2014 compared with +€22.7 billion in January-March 2013), but decreased with Switzerland (+€13.9 billion compared with +€19.5 billion) and Turkey (+€4.7 billion compared with +€6.3 billion). The EU28 trade deficit fell with China (€33.0 billion compared with -€34.0 billion) and Russia (-€23.4 billion compared with -€26.0 billion) and remained stable with Norway (-€10.6 billion).

Concerning the total trade of Member States, the largest surplus was observed in Germany (+€48.6 billion in January-March 2014), followed by the Netherlands (+€15.9 billion), Ireland (+€7.9 billion) and Italy (+€6.9 billion). The United Kingdom (-€26.3 billion) registered the largest deficit, followed by France (-€18.8 billion), Spain (-€6.8 billion) and Greece (-€5.4 billion).

Source: Famagusta Gazette