articles | 11 August 2020

Imports of goods and exports of domestically produced products decline in May

Total imports of goods from EU Member States and third countries to Cyprus amounted to €466.2 million in May 2020 as compared to €726.8 million in May 2019, recording a decrease of 35.9%.

According to the final data on Cyprus’ foreign trade for May 2020, announced by the Statistical Service, exports of domestically produced products, including stores and provisions, in May 2020 were €104.2 million as compared to €136.1 million in May 2019, recording a decrease of 23.4%.

Domestic exports of industrial products in May 2020 were €92.5 million compared to €118 million in May 2019, whilst domestic exports of agricultural products in May 2020 were €10.5 million compared to €15.7 million in May 2019.

Exports of foreign products, including stores and provisions, in May 2020 were €173.1 million as compared to €158.2 million in May 2019, recording an increase of 9.4%.

The data are included in the monthly electronic publication “Intra & Extra EU Trade Statistics (Summarised Data)” for May 2020.

Moreover, on the basis of provisional data, total imports of goods were €662.8 million as compared to €775.6 million in June 2019, recording a decrease of 14.5%.

Imports from other EU Member States in June 2020 were €384.9 million and from third countries €277.9 million, compared to €488.1 million and €287.5 million respectively in June 2019.

Imports in June 2020 include the transfer of economic ownership of mobile transport equipment, vessels, with a total value of €94.6 million as compared to €157.3 million in June 2019.

Total exports of goods in June 2020 were €273.3 million as compared to €231.9 million in June 2019, recording an increase of 17.9%.

Exports to other EU Member States in June 2020 were €123.3 million and to third countries €150 million, compared to €74.1 million and €157.8 million respectively in June 2019.

Exports in June 2020 include the transfer of economic ownership of mobile transport equipment, vessels, with a total value of €83.8 million as compared to €34.5 million in June 2019.

Total imports of goods from EU Member States and from third countries in January – June 2020 amounted to €3,653.5 million as compared to €4,120.6 million in January – June 2019, recording a decrease of 11.3%.

Total exports of goods to EU Member States and to third countries in January – June 2020 were €1,540.5 million compared to €1,711 million in January – June 2019, registering a decrease of 10%.

The trade deficit was €2,113 million in January – June 2020 compared to €2,409.6 million in the corresponding period of 2019.

Source: In-Cyprus

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