articles | 12 December 2016

Cyprus foreign trade deficit until October 2016 widens 22% to €3.5bn

The trade deficit in January to October 2016 widened by €619.5m to €3.5bn compared with the respective period of last year, or an annual 22%, the statistical service said.

The wider deficit was mainly on an annual 13% increase in imports to €4.8bn accompanied by a 4.9% drop in exports to €1.4bn, Cystat said in a statement on its website on Monday.

In January to October, imports from other European Union countries rose an annual 17% to €3.6bn while exports dropped 16% to €657.6m, Cystat said. Imports from third countries rose 0.8% to €1.2bn compared with the respective period of 2015, while exports dropped 7.5% to €742.3m.

Source: Cyprus Mail

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