Trade deficit widens to €3.7b in 2014

Cyprus saw its trade deficit widen to almost €3.7 billion in 2014 from €3.2 billion in 2013, on increased imports and declining exports, the statistical service said recently.

The value of total imports rose in January to December last year a provisional 5.5% to €5.1 billion compared to a year before mainly on a 6.9% increase in imports from euro area countries to €3.6 billion, Cystat said in a statement on its website today.

Imports fell last year 12% to €1.4 billion compared to 2013 mainly on a more than 15% slump in exports to other euro area members which fell to below €0.8 billion, the statement said.

Source: Cyprus Mail