Trade deficit widens to €4.6bn in January to November 2017

Cyprus’ trade deficit widened 18% in January to November 2017 to €4.6bn or by €715.9m compared to the respective period of 2016, the statistical service said.

The deterioration of the foreign trade balance in January to November was on a 14% annual increase of imports which rose to €7.3bn, Cystat said in a statement on its website on Tuesday. The increased imports more than offset a 6.6% increase in exports to €2.7bn.

Imports from other European Union countries rose 0.3% to €4.3bn in the first 11 months of 2017 compared to a year before while exports dropped 19% to €995.1m, Cystat said. Imports from third countries rose 40% to over €3bn, while exports rose 31% to €1.7bn.

Source: Cyprus Mail