Cyprus trade deficit increases in H1 2016

The trade deficit stood at €2.20 billion in the period January-June 2016, recording an increase of 43% compared with €1.54 billion in the corresponding period of 2015, according to the latest data released by the Statistical Service of Cyprus.

Total imports in January-June 2016 amounted to €2.99 billion as compared to €2.55 billion in January-June 2015, showing an increase of €454 million.

Imports from the EU countries amounted €2.33 billion, of which imports from Germany stood at €760 million, from Greece amounted to €564 million, from Italy to €184 million and from UK to €174 million.

Imports from the rest of the world reached €580 million, of which imports from China amounted to €121 million, followed by Israel with €98 million and India with €31 million, while imports from the US reached €28 million.

Source: Famagusta Gazette