articles | 31 October 2013

Cyprus exports up, trade deficit narrows to €1.8 billion

The trade deficit has dropped thanks to a decrease in imports and boost in exports.

The trade deficit dropped to €1.805,5 million in the January-July period compared to €2.574,9 million in the corresponding period of 2012, thanks to a significant drop in import and an increase of domestic exports by about €100 million euros, according to the Statistical Service Cystat.

Total imports/arrivals (covering total imports from third countries and arrivals from other EU member states) in January-July amounted to €2.760,1 million as compared to €3.431,1 million in January-July 2012. Total exports/dispatches in January-July 2013 were €954,6 million compared to €856,2 million in January-July 2012.

In July, total imports/arrivals reached €464,9 million, while total exports/dispatches including stores and provisions amounted to €154,5 million. Εxports and shipments of domestically produced goods, including stores and provisions, were €57,7 million whilst exports of foreign goods, including stores and provisions, were €96,8 million.

Source: Financial Mirror

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