Insider Economy 39,4% annual drop on exported goods in first 2 months of 2020-Statistical...

39,4% annual drop on exported goods in first 2 months of 2020-Statistical Service

FILE PHOTO-Limassol port

The Statistical Service of Cyprus published on Monday its monthly electronic report “Intra & Extra EU Trade Statistics (Summarised Data)” for February 2020.

The main developments in the foreign trade of Cyprus are:

(a) Total imports of goods (from EU member states and from third countries) in January – February 2020 amounted to €1471,4 mn as compared to €1387,3 mn in January – February 2019, recording an increase of 6,1%. Total exports of goods (to EU member states and to third countries) in January – February 2020 were €438,2 mn compared to €722,7 mn in January – February 2019, registering a decrease of 39,4%. The trade deficit was €1033,2 mn in January – February 2020 compared to €664,6 mn in the corresponding period of 2019.

Total imports in January – February 2020 include the transfer of economic ownership of mobile transport equipment (vessels), with total value of €334,1 mn as compared to €344,0 mn in January – February 2019. Total exports in January – February 2020 include the transfer of economic ownership of mobile transport equipment (vessels), with total value of €101,4 mn as compared to €450,8 mn in January – February 2019.

(b) During February 2020 total imports (covering total imports from EU member states and from third countries) valued at €767,4 mn as compared to €563,8 mn in February 2019, recording an increase of 36,1%.

(c) Exports of domestically produced products, including stores and provisions, in February 2020 were €90,0 mn as compared to €87,5 mn in February 2019, whilst exports of foreign products, including stores and provisions, in February 2020 were €128,1 mn as compared to €100,3 mn in February 2019. Domestic exports of industrial products in February 2020 were €80,4 mn compared to €75,4 mn in February 2019. Domestic exports of agricultural products in February 2020 were €8,1 mn compared to €10,0 mn in February 2019.

The monthly electronic publication “Intra-Extra EU Trade Statistics (Summarised Data)” for February 2020 is available for download free of charge from the website of the Statistical Service, under the section “Publications”.

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