Imports increased sharply in September, while exports dropped, according to new Cyprus Statistical Service (Cystat) data.
According to the figures, released on Monday, imports surged 40.9% to €624.1 million compared to €443.1 million in September 2013. In August there was an increase of 10.3%.
For the period January – September, imports rose 7.6% to €3856 million from €3584 million. As regards to the value of exports, they decreased by 22.8% in September to €113 million from €146.5 million in September 2013. In August, there was a decrease of 10%.
In the first nine months of the year, exports recorded a decline of 8% to €1108.6 million from €1209.3 million in the corresponding period of 2013.
The trade deficit for the period January - September amounted to €2774 million from €2375 million in the corresponding period of 2013.