articles | 10 October 2016

Cyprus January to August trade deficit widens to €2.8bn

Cyprus’ trade deficit widened 29% from January to August to €2.8bn compared with the respective period of 2015, mainly on increased imports, the statistical service said.

The total value of imports rose 14% in the first eight months of the year to €3.9bn while exports fell 1 % to below €1.1bn compared with the respective period last year, Cystat said in a statement on its website on Monday. The export figures of 2015 include transport equipment worth €158.6m while the 2016 import figures contain transport equipment worth €615.6m.

Exports to other European Union countries fell an annual 23% to €512.3m while imports rose 22% to €3bn, Cystat said. Exports to third countries fell 1.3% to €563.6m and total imports fell 6.1% €909.5m.

Source: Cyprus Mail

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