Insider Economy Cyprus records a negative trade balance of €-1.4 billion in the first...

Cyprus records a negative trade balance of €-1.4 billion in the first 4 months of 2019

The total value of the exports of Cyprus reached the  €1.2 billion, a drop of -28% compared to the same period of last year (€0.7billion in the EU, or 96% increase and €0.4 billion with the rest of the world, or -64% drop), according to Eurostat, the statistical service of the EU.

The total value of imports was €2.6 billion, or -12% drop compared to the same period of last year (€1.7 billion from the EU -1% drop and €0.9 billion from the rest of the world or -28% drop). As a result Cyprus records a negative trade balance of €-1.4 billion exactly as last year (€-1.0 billion with the EU instead of  €-1.3 and €-0.5 with the rest of the world instead of 0.0)

The total value of exports of Greece reached €10.9 billion, a 4% increase compared to last year, €6.0 billion to the EU or 7% increase and €5.0 billion of the rest of the world or 2% increase. At the same time, imports  reached €18.6 billion, a 6% increase (€9.6 from the EU or 7% increase and €8.9 billion from the rest of the world or 5% increase). As a result Greece recorded a €-7.6 billion trade deficit, compared to € -7.1 billion last year (€-3.6  billion with the EU, instead of €-3.4 and € -4.0 billion with the rest of the world instead of €-3.7).

Meanwhile, the first estimate for euro area (EA19) exports of goods to the rest of the world in April 2019 was €192.9 billion, an increase of 5.2% compared with April 2018 (€183.4 bn). Imports from the rest of the world stood at €177.2 bn, a rise of 6.6% compared with April 2018 (€166.3 bn). As a result, the euro area recorded a €15.7 bn surplus in trade in goods with the rest of the world in April 2019, compared with + €17.1 bn in April 2018. Intra-euro area trade rose to €163.7 bn in April 2019, up by 3% compared with April 2018.

In January to April 2019, euro area exports of goods to the rest of the world rose to €768.9 bn (an increase of 4.3% compared with January-April 2018), and imports rose to €709.2 bn (an increase of 5.2% compared with January-April 2018). As a result, the euro area recorded a surplus of €59.6 bn, compared with +€63.6 bn in January-April 2018. Intra-euro area trade rose to €665.8 bn in January-April 2019, up by 2.8% compared with January-April 2018.

The first estimate for extra-EU28 exports of goods in April 2019 was €171.1 billion, up by 10.2% compared with April 2018 (€155.3 bn). Imports from the rest of the world stood at €169.7 bn, up by 8.6% compared with April 2018 (€156.3 bn). As a result, the EU28 recorded a €1.4 bn surplus in trade in goods with the rest of the world in April 2019, compared with a deficit of €0.9 bn in April 2018. Intra-EU28 trade rose to €291.2 bn in April 2019, +1.5% compared with April 2018.

In January to April 2019, extra-EU28 exports of goods rose to €654.9 bn (an increase of 4.9% compared with January-April 2018), and imports rose to €676.7 bn (an increase of 6.6% compared with January-April 2018). As a result, the EU28 recorded a deficit of €21.7 bn, compared with -€10.3 bn in January-April 2018. Intra-EU28 trade rose to €1 208.8 bn in January-April 2019, +3.6% compared with January-April 2018.

(Cyprus News Agency)

Top Stories

One more tests positive to Coronavirus

One more person has tested positive for coronavirus after 942 tests, the Health Ministry said on Monday, raising the total in Cyprus to 1,022. The...

Britain set to ban Huawei from 5G, though timescale unclear

Prime Minister Boris Johnson is set to ban Huawei from Britain's 5G network in a landmark decision that will anger Beijing but win plaudits from President...

‘Views of the World’ animation festival returns to Salamiou

Countryside Animafest Cyprus, the island's official animation event that aims to showcase animation films from around the world has announced its 19th edition that...

MoH extends testing programme for employees in phase 2 and 3 of lockdown exit

The Health Ministry said on Monday it has extended to August 12 the programme to test a total of 10,000 employees who returned to...

Britain offers fast-track visas for foreign health workers

Britain's new immigration system will provide faster and cheaper visas for skilled health and social care workers, the government announced on Monday, setting out...

Taste

Halloumi cheese fingers

Ingredients Serves: 2 1/2 tablespoon olive oil 175g (6 oz) halloumi cheese, cut into sticks 1 dessertspoon lemon juice 1/4 teaspoon dried oregano freshly ground black pepper to taste Method Prep:5min ›...

Koupes (cracked wheat pies) with mushrooms

Ingredients: For the dough: 1½ cup bulgur wheat 2 cups water 1 tsp. salt For the filling: 250gr. mushrooms, finely chopped ½ cup of olive oil 2 big onions, coarsely chopped 1...

Fried zucchini balls with halloumi

Ingredients: 6 medium zucchinis (approximately 1kg) 1 small onion, grated 1 large halloumi (about 250gr.), grated ½ cup simple flour 2 tsps. fine lemon zest 2 big eggs 1 tbsp. fresh...

Rocket salad

Ingredients: 4 cups rocket leaves, rinsed and dried 1 cup cherry tomatoes 1 cup pomegranate seeds 1 red bell pepper ½ cup croutons 2-3 light cheese slices (grated) salt ½ of a...