articles | 16 February 2015

Cyprus trade deficit widens 14.5% in 2014

The Cyprus trade deficit widened by 14.5% in January to November 2014, according to figures released recently by the Statistical Service Cystat.

In absolute terms the deficit on trade in goods rose to €3,406.1 million (€3.4 billion) in January-November 2014 compared with €2,913.9m in the corresponding period of 2013.

Total imports/arrivals rose to €4,729.9 million (€4.7bn) compared with €4,414.7m in January-November 2013, marking a rise of 7.2%.

Total exports/dispatches fell to €1,323.7m compared with €1,500.8m in January-November 2013, recording a fall of 11.8%.

Meanwhile, the first estimate for the eurozone’s trade in goods balance with the rest of the world in December 2014 showed a €24.3 billion surplus, compared with a €13.6 billion surplus in December 2013.

The November 2014 balance was +€21.2 billion, compared with €16.5 billion in November 2013. Seasonally adjusted exports fell by 1.1% In December 2014 compared with November 2014, and imports by 2.4%.

Source: InCyprus

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