Drop in Cyprus' exports in H1 2016

Cyprus' exports in January–June 2016 reached €800m, a decrease of 21%, compared to the same period last year, figures released by Eurostat show.

Cyprus’ exports to the EU were down by 26%, whereas exports outside the EU dropped by 14%.

According to Eurostat, Cyprus’ imports amounted to €3 billion, recording an increase of 18%. Imports from the EU were up by 28%, while imports from outside the EU decreased by 9%.

As a result, Cyprus recorded a negative trade balance of €2.2 billion, against €1.5 billion last year.

The first estimate for euro area (EA19) exports of goods to the rest of the world in June 2016 was €178.8 billion, a decrease of 2% compared with June 2015 (€182.8 billion).

Source: Famagusta Gazette