articles | 16 July 2013

Cyprus trade deficit down, Eurostat data show

Cyprus’ annual trade deficit was down by €500 million during the first four months of 2013, according to Eurostat data published on Tuesday.

The total value of Cyprus’ exports during the first four months of the year came to €500 million, recording an increase of 14% in relation to the corresponding period of 2012. Imports on the other hand were of a value of €1.5 billion, down by 20% compared to €1.9 billion during the first four months of 2012. Cyprus’ trade deficit during the months of January to April came to €1 billion compared to €1.5 billion during the same months last year.

EU 27 imports from China came to €65.3 billion down by 4%, imports from Russia came to €51.6 billion up by 3%, while imports from the US stood at €49.0 billion down by 4%. At the same period EU exports to China were recorded at €38.7 billion down by 3%, EU exports to Russia reached €29.0 billion marking an increase of 4%, while EU exports to the US came to €72.1 billion, recording an increase of 2%.

The EU27 trade surplus increased with the USA (+€30.5 billion in January-April 2013 compared with +€24.1 billion in January-April 2012), Switzerland (+€27.0 billion compared with +€14.5 billion) and Turkey (+€9.1 billion compared with +€7.9 billion).

The EU27 trade deficit fell with China (-€41.8 billion compared with -€44.8 billion), Russia (€32.9 billion compared with -€35.5 billion), Norway (-€13.7 billion compared with -€20.7 billion) and Japan (-€1.3 billion compared with -€4.5 billion).

Source: Financial Mirror

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