Cyprus exports grew faster than imports during January 2019, narrowing the island’s trade deficit by €138.8 million.
Official data shows the trade deficit was €277.6 million in January 2019 from €416.4 million in the same month last year.
Total imports in January stood at €811.2 million compared with €621.9 million in January 2018, while total exports rose to €533.6 million compared with €205.5 million in 2018.
Total imports included the transfer of economic ownership of mobile transport equipment (vessels), with total value of €298 million from €70 million.
Total exports in January included the transfer of economic ownership of mobile transport equipment (vessels), with total value of €409 million from €204 million in January 2018 last year.
Exports of domestically produced goods, including stores and provisions that stood at €75.4 million compared with €116 million in January 2018 whereas exports of foreign goods, including stores and provisions, in the first month of 2019 were €458.2 million from €89.5 million.
Total domestic exports of industrial products in January were €66.5 million compared with €106 million in January 2018 and total domestic exports of agricultural products were €6.4 million down from €8 million.
Source: Financial Mirror